You don't want to invest in apartment buildings, rather, you want to build a business that invest in them on your behalf. Don't be fooled, the big boys are not out there, looking at properties, analyzing deals, and raising capital, they have people, systems, and technology in place to do it for them. Robert Kioyosaki wrote, ''People who invest as individuals, always get slaughtered by those who invest as a team". Even if you cannot hire staff to do this for you, develop a business identity, and begin passing out your card at real estate networking events. Make it look like you have been doing this for years, but tell them you just started. You will be surprised at how many professionals will begin to help you free of charge,-this covers your people. Next, you want to continue learning about the industry. While I don't want to market the gurus, because they can do it themselves, just remember knowledge is a considerable advantage. Even if you cannot afford their curriculum's, sign up for their free newsletters, and begin studying the topic online. Also, check out www.Multifamilyexecutive.com, as it will keep you up to date on what the big boys in apartment investing are doing, and hopefully, you can adopt some of this yourself. Use the featured, technologies, and tactics they recommend, as it will add to both your professionalism and success in the business. That covers systems. And finally get started. You may not have collateral so banks won't want you, go to private investors instead, loopnet can help. These investors will qualify you based on the property, and whether or not you gel with them personally, unlike banks, who will simply look at your business history and down payment amount. Use the internet to search and network with investors, be honest with them, and ask if they offer 0% financing, explaining to them that you are just getting started, and willing to take whatever piece of the deal you can. Maintain healthy correspondence with them, and be sure to project yourself as a business, while being honest with them that you are just starting at the same time. The book, '' The Ultimate Marketing ToolKit" by Paula Peters really helped me here. Finally do not give up. Continue to build the business, even when you are not getting deals, this means you keep your name out there, and develop credibility, it means you continue to learn, and develop your skills, and do whatever it takes to get started because as they say, the first step is the most difficult.
Nov 22, 2010