How to Start a Rental Property Business with No Money
Getting started in real estate can feel nearly impossible without a large chunk of cash saved up. However, it doesn’t have to be. With the right strategy, creativity, and willingness to learn, you can start a profitable business with little to no money out of your own pocket. Today, we’ll review how to start a rental property business with no money and provide strategies that have brought several investors success.
House Hacking for Equity and Cash Flow
One of the easiest ways to break into the real estate space with little money down is by house hacking. The concept of house hacking is simple–you buy a property, live in part of it, and rent out the rest. This may be a multi-unit property, or you could even rent out extra bedrooms in a single-family home.
Since you’d be living in the property, you may qualify for low-down-payment loans like a Federal Housing Administration (FHA) loan or a U.S. Department of Veterans Affairs (VA) loan. Then, the rent from your tenants can cover most, if not all, of your mortgage, allowing you to live for free while building equity. During this time, you’re also gaining property management experience–similar to what a property manager in Austin might handle– by managing tenants, keeping up with maintenance, and more.
Investor Par...