Buying no money no credit

8 Replies

Hello I'm a 41 year old with only a Ged i have no money no credit .....were do I begin as far as buying homes no money down no credit?

Money, knowledge and time. It takes all three to do a deal but they do not all have to come from you. You do have to contribute something. It seems from your post that the component you may have is time. Use it to read everything you can (gain knowledge) and learn your market. Use it to network (gain access to mentors and money). However, be warned. If you are looking for a handout (in terms of money, knowledge, or time) everyone will know it and you will find a tough path. Nobody has time for that. Approach this with dedication and with a willingness to give back and you may be surprised how far you can go.

@jeff rabinowitz thanks that I do have is time ..I mean I work I've been in direct sales for over 15 years so people are my passion ...but like you said nothing beats knowledge!

First off - lose your history. Everything is what you make of it going forward, not what happened in the past. Industries are littered with those who came form nothing and made something of themselves. Only having a GED means sh*t.

Right now - do nothing of action. Read, absorb, dive into BP - self educate yourself so that you have a better understanding of everything real estate related.

Come up with a plan - then work the plan.

Hey Derrick!

I think maybe you have other options, let's connect. I may have someone you can speak with that can help you find the money!

[email protected]

This post has been removed.

@Derrick Bryant

Welcome to the site.

Your going to need to build up your credit. Reduce your debts and increase your earnings.

To buy real estate you need at least 1 or 2 the following.

  • Credit
  • Money
  • Experience

At the moment you don't have any but that is ok. You have to start somewhere. Partnering with people that have money is possible if you have experience or credit.

I would recommend getting licensed and working part time as a Realtor. This will check off all three of the items for you. You can gain experience in real estate, while earning more money to pay off your debts.

I am in the same situation. I have deals, I have knowledge from hours of bigger pockets podcast, books and real life. I even have sales experience and convinced a hars money lender to fund the deals but with money for appraisals, down payment and to pass the application process with the lender it is dead in the water. A partnership brings the last two components, experience and capital. I feel great that I was savvy enough to convince a lender but that's the extent of it for now. 

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