Financing advice for newbie

[Levi Atterberry]

Hey there everyone,

I’m trying to get into real estate investing but I’m having a hard time with financing. I contacted a lender from a large bank and she told me that since I have never owned a property no lender would lend to me for investing. I don’t have money for a down payment but am more than happy to save until I do or work out a deal. So my question is should I save until I can finance a property a more conventional way ( which I’m worried they would tell me the same thing then) or do you know more creative ways I can get financing? Thank you for any advice you have to offer.

[Theresa Harris]

If you have no money for a down payment, do you have money to repair the home should something break?  I don't know if the problem is you haven't owned a home or you don't have a down payment.  

Why not look into buying a house with an income suite or a duplex where you live in half and rent the other half?  Both would allow you to buy with a lower down payment.