No credit and no money. Do I have any options for investing?

[Account Closed]

What's up Bigger Pockets peeps? I have no credit history established, and no money (OK, maybe like $1,000) to make my first real estate investment. I was just wondering if anyone out there has any insight as to what kind of options exist that don't necessarily require someone to have good credit (or any) to get the funds that are needed to make a profitable investment. 

[Lumi Ispas]

@Account Closed , No credit and $1000 is enough for an FHA loan if you have worked for 2 years continuously, or if you used to be a student and got a job right after you finished school. In lieu of credit, the bank will look if you paid in time three lines of credit: your cell phone bill, utilities bills, rent, etc.

The down-payment can come in the form of a gift from some relatives ( and of course you can gift it back to them as soon as you save some money) and the closing cost can be covered by the seller!

You can buy a 3 or 4 unit building in such a way that your unit's cost will be covered from the rental income on the other units.

Good luck to you!