Gaining Finance for First Purchase

[Charlie L.]

I've been scouting some Properties and have done the Math and think that they are good to buy.

Here's the problem, I have just Graduated from University and do not have a job, which most mortgages require you to have.

What would be the best way of convincing to the bank or proving to them that I can be given a Mortgage.

Are there any other more creative forms of finance?

How would I come up with enough money to therefore pay for the house?

Any help greatly appreciated,

Charlie 

[Michael Beeman]

@Charlie L.

First, I'd recommend reading up and listening to a lot of Ben Leybovich's stuff. you can find him here on BP with a simple seach, or you can find him at justaskbenwhy.com

Secondly, check with friends and family. Your inner circle will often be investing in you. You certainly want to explain your deal. But, it certainly doesn't hurt to ask.

Thirdly, look on BP.. There are tons of articles on how people have actually accomplished creative finance methods. 

Finally. Really study the deal. If you use up all of the above options and no one will finance you. The deal may not be as good as you think. Don't get discouraged. Just look for a better deal. Oh, and binge listen to every BP podcast that includes the word "finance" followed by the words "bank"  "private" (meaning private money, private lender. Etc.  There is a ton of good info out there.  I hope this helps.