Updated about 5 years ago on . Most recent reply
Best ways to get started in REI with no credit
Hey! I'm new to REI and i am just curious as to which would be the best way to start out with no credit history? I live in southeast TN close to Chattanooga TN. I am willing to learn and put in the effort!! I also have some capitol saved up as well!! Thank you all in advance any advice helps.
Most Popular Reply
Hi @Alejandro Moreno, your top goal should be to establish credit since that can take a long time to get a good score. In the meantime, I would look into an FHA owner-occupied loan, I think they only require a 580 credit score. Besides that, you should partner with someone who has great credit but needs funds or labor. If you have any family or friends you can partner with, that would be a good place to start. Besides that hit up BP or your local real estate groups.
If you can find a deal and bring it to someone, the chances of getting someone to invest with you goes way up.
- Brad Hammond