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Forums » Creative Real Estate Financing » How can I get started

How can I get started Subscribe to How can I get started

5 posts by 4 users

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John M.

Real Estate Investor · Rancho Cucamonga, California


Forum_avatar_avatar-makessense

Icon_minipost May 03 '09, 10:15 AM

Hate to hijack this thread, but what can a person do with no job, 735 credit, pays bills on time and 12k in cash? Is it possible to get financing? conventional loans?

Edited: 06/26/2010 at 08:07AM


Jon Holdman

Real Estate Investor · Denver, Colorado


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ModeratorPro

Icon_minipost May 03 '09, 10:17 AM

John, split your post out of the other thread. With no job you won't get conventional financing. Sorry, but that's the climate today.

You could look for creative deals. Subject to, owner carry, lease options, and the like. All those are discussed here, so use the search function and you'll find some explanations.

Edited: 06/26/2010 at 08:07AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Josh Green

Banker · Tampa Area, Florida


Forum_avatar_avatar-j20a00g

Icon_minipost May 03 '09, 10:19 AM

why would someone/place loan you money without an income coming in?

if i walked up to you and said 'hi, i'm josh, and i dont have a job.....can i borrow $xxx,xxxx.xx' what would your response be?

as far as concentional, no way!
i'm sure there are still some idiot fly by night lenders out there so just look around.

sorry to sound rude, but to get a LOAN without an INCOME is one of the reasons the world is so effed up right now.

Edited: 06/26/2010 at 08:07AM


Jason Wheeler

Private Money Lender · Pleasant Hill, California


Forum_avatar_avatar-investor_champ

Icon_minipost May 03 '09, 11:03 AM

I agree with Jon that subject to would be a great way to get in on your first deal.

I've been fortunate enough to be involved in several Subject To deals.

Edited: 06/26/2010 at 08:07AM


John M.

Real Estate Investor · Rancho Cucamonga, California


Forum_avatar_avatar-makessense

Icon_minipost May 04 '09, 06:51 AM

Thanks for the help Jon and Josh. Although Josh, stop being so negative (though I agree haha). I was seeing what options there were for me with 12k trying to fund a 40k buy/hold deal. Conventional loans are out, A subject-to won't work on this deal since he wants the whole sum, so who can I turn to? Private lending? Ehh, I'll keep doing my best. Eventually, I'll get it. Anyways, thanks for the useful advice.

Edited: 06/26/2010 at 08:08AM by John M.


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