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Unregistered 123 09-28-2007 08:39 PM

Starting out
 
I may be asked by a friend (who always comes to me for advice) who is considering starting his own business (recently terminated from his corporate job), how to best get started. Among his questions could likely be - can I sign up as an affiliate even though my credit isn't the best and I lack any real cash?
I tripped over your website so I thought I'd ask. He may have already purchased a real estate investment course or two - I'm not sure. So - I guess - if he were to start out - he'd need some web presence and leads - for example - through your company should he choose to go that way. So, aside from just be a hard-working stiff, can he sign up? Or are there any specific qualifications he has to worry about? Thanks.

Scott Patterson 10-02-2007 05:22 PM

As far as signing up goes, I only ask that you conduct yourself in a responsible business like manner and treat people right. You don't necessarily need cash or credit to do this business but it helps and as with any business it is vital for long term success. Also those that are starting out and have less resources are often able to help distressed sellers more as they have more time and patience to help and find a buyer or work on tighter margins.

That being said, I recommend to everyone to do this business part-time for as long as possible and develop consistency and a track record of producing results (profits) before jumping in full steam. I wrote an article concerning this titled "Quit Your Job and become a Real Estate Investor"

It's the first and only one I have written, I will write more some day.

fongbfong 10-29-2007 02:32 PM

Quote:

Originally Posted by Unregistered 123 (Post 138)
can I sign up as an affiliate even though my credit isn't the best and I lack any real cash?

There are some tricks you might consider to get around your bad credit and lack of capital, though it varies from state to state. This person should first incorporate, which gets you around stated income requirements. So then rather than going through the mortgage process, one can approach this at the angle of a business loan. This way you may also court entities other than banks as investors. This could be as simple as getting some friends together. Definitely get incorporated first, which runs about $300-500 (hire a lawyer to do it right).


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