hi Dan I don't have any money can I
still invest in real estate question Dan
I don't even have enough money to buy
one unit how could I get started in real
estate the answer is don't don't start
investing in real estate you're
approaching it the wrong way you're
hoping to buy what you did you'll get
rich quick so you buy one unit even
you're over leveraged you do nothing
down the type deal you're barely
breaking even you're getting 20 30 50
100 bucks coming in a month how does
that gonna change your life
how's it gonna change your financial
life it it's idiotic is dumb
I'm not saying don't do real estate I
love real estate but before you do real
estate you need to have a base what is
their base it is the ability to generate
income if you don't have the ability to
generate income my question for you is
what happens if you cannot find a tenant
how you gonna pay for that mortgage what
if the toilet breaks I'm gonna pay for
any kind of things that you fix in that
unit we're gonna do you can't you don't
know what to do that's the problem
you need to have income coming in first
income is king right you gotta have
income coming in have stability first so
you don't need to worry about it when
you have good money management habits
put some of that money aside and do your
first deal doesn't have to be a big deal
do your first real estate deal and look
and and learn from it right look for a
good property to invest in but if you
don't even do that find out one unit how
is that gonna change your life there's
the problem you want to you want to get
rich quick it with real estate no you
need something else that produces income
a skill a business that produce income
for you before you put money into real
estate right you only a lot of money to
get started but you need some money to
get started have some money you have
some money coming in put their money
aside then do your first deal do a
couple deals learn from it then you move
into bigger deals maybe a commercial
deals like this later on right then
you're doing condos you're doing
multifamily now you're doing industrial
you know you're doing historic units
you're doing retail whatever you might
invest in offices
that's when you get bigger you buddy
gotta start somewhere
investigate before you invest you got to
know your business if you are going to
get into real estate you better learn
the game you better know how to do it
even know your market
you better know and how to negotiate you
better know how to sell you better know
how to know how to talk to the bank do
you know any of those things you don't
you're not qualify to be an investor
you're far from it
bah bah far from it