Do I Have To Have Money In The Bank To Succeed In This Type Of Business?
I have read Kessler's "A fotune at your feet". The possibility of becoming an independant broker is very interesting to me. I would like to hear from somebody who can give me a rags to riches story . I just need to know if it is possible to start with literally nothing. If anybody has such a story to tell, it would be a terrific inspiration ! Thanx 
Money in the bank is good, but I can't garantee that you will be using that money. Many people invest without using their own money.
[addsig]
He's such a modest guy
http://www.thecreativeinvestor.com/modules.php?name=Your_Account&op=userinfo&uname=Birddog1
You will need at least appraisal funda and earnest money. Always try 10 dollars for EM you never know what may happen. Fill out the contract yourself and that way you do not discuss EM with owner or Realtor untill they see it. Appraisal will be $250 or so on residential and $2500 on commercial deals. You can get hard money lenders to fund deals at 70% or below that will also fund the repair costs.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
Hello Praezer,
What you ask about going for rags to riches, is very possible. I had the honor of dinning with Evander Hollifield this past Thanksgiving. My sister and brother-n-law went from not rags, but riches. They had the champ over a few different occasions. Now they did not make their money in real estate and they did not do it over night. They worked hard and over the past thrity years have build up their business to the point of have been guess and the nation's capital twice.
As to having money in the bank to become a successful real estate investor, I would have to say, having the money would not hurt. I would give you a little cushion in the event someone else was to do some that for you and it got delayed. And yes, things do not always fall into place like clock work. I would perfer to have that cushion myself, that way I don't have so much pressure on me or have my hands forced into a bad deal.
You can do anything that you have the desire to do. Don't the lack of money keep you from your dreams. I have been investing for 20 months now, I am about to finish up on my 17th rental unit within the next two weeks. I have purchased 875k worth of investment property in that time. Anyone can live the American dream if they put their mind and heart into it.
Here' s my rags to... well fairly well dressed article.
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&sid=339
Good Luck,
Shawn(OH)
Yes it can be done.