Zero-Cost Ways to Get a Piece of the Real Estate Action

Are you eager to get a start in real estate, but short on cash? Don't give up. These strategies can get you started with minimal investment:

• Barter your professional services. You could be a contractor, landscaper, accountant, attorney--whatever. Offer your services in exchange for a percentage of the sale.
• Collect a finder's fee if you can find investment properties for a developer. One great strategy is to run a newspaper ad in another state that says, "Attention Developers! Distressed properties available in [your state]. Call XXX-XXXX now." Being a remote agent for developers is a good way to generate interest--and commissions. Where will you find those properties? You will have to knock on doors, talk to area merchants and literally "beat the bushes." But you can turn up more properties than you expect.
• Collect a finder's fee if you can find buyers for properties that have been sitting on the market. Approach the sellers and negotiate a fee. There are tons of unsold properties on the market, many of them with eager sellers. One tactic that works: After negotiating the fee you will get for finding a buyer for a property that's for sale, walk around the neighborhood where it is located. Knock on doors, and ask, "Do you have a relative who would like to move into your neighborhood?" It's a powerful way to generate leads.
• Become a real estate agent and get as many listings as you can. You might think this is a crazy idea in this flat market, because it is so hard to sell properties. But think again. If you put all your energy into getting as many listings as you can, you will eventually get a commission on them when the market turns around. Success tactics for finding listings: Talk to your neighbors, your friends and to area merchants. You'll be surprised how many frustrated sellers there are who are willing to list their houses with you if you describe current market challenges honestly and offer realistic predictions about when their properties might sell.
• Develop a property that is already owned by someone in your family. I discussed this strategy recently in another post on the Donald Trump Blog. If you ask relatives, you will probably be able to find under-utilized properties that can be developed for rental or sale. Your strategy: Offer to improve the property or market it in exchange for a percentage of the profits.
• Start a niche business that capitalizes on the needs of the current market. If you have a flair for decorating, start a staging business: you bring in home furnishings and offer guidance about how to decorate homes for rapid sale. Other niche businesses to consider: Landscaping makeovers; mold and environmental remediation; driveway resurfacing; home inspections; mortgage counseling. If you think about what you can do, you will discover opportunities.

Some of these tactics might not be as glamorous as buying a house and flipping it for a big profit. But make no mistake. If you use them to get your start, you will be moving on to more profitable investments before you know it.

To learn more powerful ways of getting your start in real estate investing and development, become part of Trump University's Real Estate Investment Training program.

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