How to start?
Hello,

I'm currently interested in invest in CRE. But I don't have enough money to put in or credit. Is there a way to start investing in CRE, for example: medical offices, with little to no money? I'm 24 years old and currently live in Texas. I have some savings though, its just that I dont want to waste it all.
[{"id": "eu9l0mn", "text": "Go find someone who has money and figure out how to work for them. A developer without money is not a developer.", "replies": [{"id": "eu9rod8", "text": "And even people with money usually want a developer to have SOME skin in the game. Improve your credit, build your development track record by working with an existing successful developer to learn how it\u2019s done.", "replies": [], "depth": 2}], "depth": 1}, {"id": "eu9p9z7", "text": "Real estate syndication is your best bet. But you have to do your due diligence on the managers. Not all of them are reputable", "replies": [], "depth": 1}, {"id": "eu9pg2s", "text": "Start on your credit. Do you know what your score is?  Have you pulled a report before?  If you don\u2019t have one get a credit card, you can get a card with collateral, many of these are fee free, depending on your deposit. Talk to your local bank manager/president. Talk to them about what it would take for you to get started, even on a small scale. See if he knows of anyone that might sit down with you over a fast food lunch and tell war stories. \n\nPersonally I think the easiest way is to get a small older house that\u2019s currently lived in but is zoned commercial and convert it to office, preferably next to another conversion. There usually isn\u2019t much to it except adding exit signs, fire extinguishers and a sign out front. Obviously you should always do your due diligence for codes when converting to commercial in your area but hopefully this gives you something to investigate. Good Luck.", "replies": [{"id": "eu9pqrr", "text": "Thank you for your advice! I do have credit score but I don't know if its long enough. Its about 3 years of credit history with, as of today, is 746. Should I reach 800 to start?", "replies": [], "depth": 2}], "depth": 1}, {"id": "eu9spux", "text": "I first suggest you learn your market. What asset class is most attractive? Suburban office is on the rise. Multifamily cap rates are tight but still a good investment. With the right retail, you can hit gold. Industrial is safe and profitable if you know you\u2019re shit.\n\nSimply put, you can\u2019t start to invest unless you know what you\u2019re looking for otherwise you\u2019re just gambling. Most ventures won\u2019t seek investors with less than $50k input of equity.", "replies": [], "depth": 1}, {"id": "eu9udf2", "text": "Intern", "replies": [], "depth": 1}, {"id": "eu9yliv", "text": "Why commercial? \n\nEverything about commercial real estate is more expensive and takes far longer\u2014\u2014-to buy, to sell, to develop to whatever. \n\nStart with residential", "replies": [{"id": "eua4zfg", "text": "Possible he means investment real estate generally and is including multifamily. At the brokerage I work at we tend to use it as a catch all term.", "replies": [{"id": "eua5900", "text": "Specifically he(or she) mentioned medical offices which def is considered commercial in every sense...details", "replies": [{"id": "eua5wh2", "text": "Ah. I didn't notice that.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "eua5u41", "text": "The big thing you're going to want to do is get a related job. CRE brokerage is the obvious one that comes to mind. Depending on where you're at you could also find work on the investment side. Just be careful that a lot of jobs will be working with deals so large they bear little resemblance to what you are attempting personally. TIAA isn't going to be helpful.\n\nFrom there your options are to try and do something solo or get in with other people. Buying a duplex and self managing would be the way to start on your own. I have no idea how much capital that would require where you live. You eventually work up to progressively larger properties. However, it's more likely that you're going to want to find some people of a similar mindset and pool funds in an LP. The third option is to find someone who is already putting a deal together and who you can just give the equity to.\n\nA better credit score is beneficial.\n\nI'm breaking into this on my own after being around it through family for many years and then more intensively through my job. It's not rocket science but it's always struck me as the sort of thing where people accumulate knowledge organically and then one day they're sort of experts. As a result people may minimize the complexity of the investment.", "replies": [], "depth": 1}, {"id": "euau1uu", "text": "800 would help, but not necessarily. You might get a better rate or more lenders wanting to loan to you with less down. We have a long history and depending on when you take the snapshot my score ranges from 700 to 800. Just depends on if I\u2019ve got too many projects and my cards are maxed, or I\u2019ve just sold a couple and I\u2019ve got less to no debt (other than mortgage payments) and flush with cash. \n\nOn down payments we recently purchased a property with 20% down and the owner held back a 20% 2nd, so we were able to get in with 0 down, other than the cost of the loan fees. That allowed us to do some rehab on the property and increase our rent.  You usually end up paying retail for your property and the lenders are not fond of this since, if you get in trouble, you can just walk away with no skin in the game. But it might be a way for you to get a bigger property. Even if the seller holds back a 10% second that can make a huge difference.", "replies": [], "depth": 1}]