All Forum Posts by: Javier Alvarez

Firstly, I would like to say I appreciate all of your responses. Mindy Jensen thank you for your advice and yes with absolutely no credit history(other than a delinquent phone contract that I wish I would have never gotten into) my only option at the beginning of this year was a secured card. I opted for the secured card available through my credit union. I secured it up to $1000.00 so I could easily pay for things like my gas groceries and phone while only utilizing 20-30% of my balance, which I have heard is the key to establishing credit. Also I will definitely try to locate an agent and have them send me listings directly so I can get familiar with my locale. 

Clayton Rhemus thank you for your insight and honesty. I personally feel that it would be very risky as well and would only look at this option for something under 6 figures, that way it would be manageable. Honestly though I am really intrigued about the idea of passive income and want to start investing as soon as possible but at the same time I am firm believer in building a strong base before I make major decisions. I will probably just go the route of the tortoise as opposed to the hare and continue saving up until I can locate a property that I just can't pass up. 

Tim Farrell thank you for extending a (virtual) hand and warmly welcoming a greenhorn such as me into the fold that is known as real estate investment. I see that there is post after post in all these forums with questions that I have yet to even think about asking. I look forward to absorbing as much of the information as I can and also discovering any wisdom I may be able to comprehend on this site and from this community. 

Once again, thank you all for your advice and the warm welcome to the community. 

Hello bigger pockets community. My name is Javier Alvarez. I am absolutely brand new to real estate investing. My main interests are buying and holding rental properties (especially multi family housing) as well as fixing and flipping properties. Honestly though I want to learn as many aspects of real estate investment as I can. I am basically at the very beginning of my journey as I have recently just started establishing credit. Prior to this year I had always been hesitant to  delve into the world of credit and my mindset was, If I don't have the money for it why charge it and if I do have the money for it then I don't need to charge it.  

But as I began growing interested in real estate as a form of passive income I was advised that credit is akin to a résumé for financial institutions. In contrast though as I read more information and watch more videos(which is how I found this website) I hear about getting properties 100% financed. 

Ha, so sorry but it looks like my introductory post turned into my first question. 

Is it truly possible for someone such as me establishing credit to get a property 100% financed and for said loan to not be a huge risk?