BiggerPockets

Welcome to BP Matt!!

Having no money and bad credit is certainly going cause a problem if you want to flip a property. What do you mean by "flipping" houses? Are you referring to rehabbing a house to sell for profit like you see on TV? IF that's the case you're going to need some money to do that. However, you still can get started in real estate by locating properties for other investors in your area by birddogging or wholesaling. This will help you build your bank roll, learn how to evaluate deals, and build relationships with other investors. I would suggest you join your local REIA (Real estate investment association) and read as much as you can on here about birddogging and wholesaling. Also feel free to ask questions,everyone here is very helpful and will do their best to point you in the right direction.

this is super common so don't worry. yes, asking for money from friends/family or potential business partners is a fantastic idea, but doing so without credibility is going to be tough.

i would suggest doing what they wrote above - wholesaling/birddoging/or even saving money until you can build a small bank roll, find a cheap property to flip first (mine was a tiny condo), use a hard money lender to help fund it, use your money to rehab it and HOPEFULLY, sell for a profit. Then, move on to the next. Yes, much easier said then done but that's one route to take.

Wholesaling or bird dogging will be ideal to build up cash reserves so you can eventually rehab flip.

Partnering up with someone might be more difficult. Some will want you to have experience and some will probably want you to have something into the project. You can however invest your time into it and that might convince someone to partner up with you. You might also want to make a business plan outlining the project including goals,etc.

Also take into consideration a mentor in your area. They might take you on as an apprentice and you'll learn a lot from them and gain experience as well.

Everyone has had very good suggestions so far.

Remember that markets are ever evolving and what used to work in the past doesn't always work today or in the future.

You have to appreciate that if you have no money and no credit you are probably going to have to have seller finance which means you won't get the best deal on the price...for a rehabber this is the kiss of death. You make most of your $$ when you buy so you have to get the lowest price possible.

It does not take a lot of money to develop a solid buyer's list of 20+ buyers. Start here...then if you end up partnering you have something to bring to the partnership.

Let me know if this is helpful? Good luck, Brad