How can someone invest in real estate with poor credit, and no job?

How can someone invest in real estate with poor credit, and no job?

I am anxious to invest in real estate. I have a small monthly check coming in from a structured settlement, and a small chunk of cash. My credit is poor, altho it shouldn't be and all the steps I took to correct it in the past year have had no effect on my score. I also have no job. I am a homemaker, seeking employment. I need a job, so I can work for 2 years, and hopefully be able to get a loan in time. What would you do? Or, is there something I don't know about?


You said;

that you knew some investors,right? so ask one of the investors you know?SULLY.




Hi I'm new & just today started going thru all the info. from Dean and very excited and thought I'd browse this site to get a feel for whats going on and find it very interesting and full of great information but I couldn't help but notice that someone had asked if "finders fees" were Legal?
It seems that it would be ok if there's a contract drawn for a reassign but just wanted to make sure finders fees are ok & legal?
Anyone know?


Hi I'm new & just today started going thru all the info. from Dean and very excited and thought I'd browse this site to get a feel for whats going on and find it very interesting and full of great information but I couldn't help but notice that someone had asked if "finders fees" were Legal?
It seems that it would be ok if there's a contract drawn for a reassign but just wanted to make sure finders fees are ok & legal?
Anyone know?


I believe Assignments and Finder's Fees are 2 separate situations. I think if you get a property under contract, you can assign it to someone (as long as you've included 'and/or assigns' after your name of the contract. And I think that Finder's Fees are paid to those that don't necessarily have a contract on a property. I believe Finder's Fees bring in a smaller amount of money. I would have this clarified with another investor.

If someone else could comment on this for Leisa..

Tax Sales

Where are tax sales listed? Would you look in the newspaper or what source of announcment would that be?

Thank you,


I believe you can look to your county assessor for that info..


I appreciate your help and yes, I guess I might have the 2 confused a little but seems I'd rather go with an assignment if that's the case.
Again, thank you.


Working on getting started

First off, to anyone that doesn't completly have their foot in the door, you need to set your mind to fact that you will, that you are making it happen. Use positive words like you're working on, not trying. Because if you fail, which is very possible then you'll just tell yourself that you tried. Tell yourself that you're doing it, that it is happening. Here's proof why in how it is working for me. I am self employeed doing general construction now, but this last fall I was pretty much working for someone else doing taping and painting. I got laid off in the first week of December and haven't gone back since, mainly because I'm doing this now. My mother in law purchased the book for me because I had no money, and she said that if I'd actually do it, she'd buy it. I put every bit of my time into reading the book and researching my local market. Just like you I actually have not so good credit, and no money. I was scraping by paying bills while I was working and now I couldn't even pay them because I have no unemployement money. I had two loans, half a dozen credit cards, and no money to buy food with. I even got three months behind on my credit cards and lost hundreds of hundreds of dollars to late fees and charges. But I told myself that I will not get a job, that I will do what I want, when I want and how I want. Every lender I would call said that either with no money down, or with bad credit that they wouldn't give me a loan. I know of some gentlemen in town that are pretty wealthy, so I started calling them. I gave up on one because I haven't been able to get a solid number from anyone to call him. But I called the other everyday for about a month and a half before I was actually able to talk to him. Now, I call his office and they put me right through and we actually will just sit there and talk like we've known each other for years. He is giving me a lot of opportunities and has agreed to be my private lender. I am still going to find other lenders so that I can complete more deals, but it just goes to show you how persistance pays off. This guy likes the people that are on his feet about things, that push him to get them done. So get out there and find someone, someone not only to invest in you, but someone who would be a mentor. Just remember that you have to first decide what you want done, and what you want to accomplish. You have it in you to do it, you just need to dig down and find it in yourself, everyone does. So I ask you what is it going to take for you to be successful in what ever you wish? First set you mind to it, then I know you'll do it. Here is the million dollar formula to success: Intention + Mechanism = Results .... know what you want to do, and the results you want to accomplish, and the mechanism will fall in place, I guarentee it. Good luck all!!!


THAT was a pep talk! THANKS, jdman84.

I have started to realize the power of the squeaky wheel myself. Not from me doing it, but from others bugging me. (I should have learned that lesson years ago from my KIDS.) I'm going to start being more persistent with things, even more than I have lately.

It helps to be reminded. Thanks again.


"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link:

Real Estate in General

May 6, 08
Hi All...Well, i just wanted to say today is my first day commenting and using this forum, and yes i ordered Dean's book, and although i haven't done any deals yet do to my work schedule i can honestly say that RealEstate is truly the Best way on Planet Earth to make quick money starting parttime. I know this is not a scam, because i have Friends who own houses in New York and they Rent, to tenants and they live rent Free, meaning the tenants pay their monthly mortgage so my friends don't worry about bills and they use their weekly pay-checks on other things. The only thing they pay is of course food, home ph., cell ph., which are personal items. But No one on God's green earth can say Real Estate is a fake or a scam. Real Estate is the best business that while others put in hundreds of dollars for their businesses, which takes money, We put NOTHING DOWN DEALS, on properties worth Thousands., and in most cases we are the owners of these properties until we pass them on to other investors for a quick profit. Think of this if you owned a house and you had an extra apartment, within the house wouldn't it be reasonable and logical to think that if you Rent it you will make a monthly income? So Real Estate is an Honest way to make quick money and an Honest living. I bought tons of Newspaper to look for ads, and I will be finish reading the Dean's book by this Friday. I wish everyone the best and I look forward on pursuing Real Estate. Be keep me informed...And Sully you seem insightful, please be available to Help us. Thank you, all. Your Friend Hector, New York

Tax Assessor

Thanks direction on that question!

thanks HECTOR




Finders Fees?


I am new to all of this and was wondering what the typical finders fee is?




If you can get a property under contract, then you can assign it to another investor (with your name + and/or assigns on the contract). In this situation, what you may want to do, is get ahold of investors and ask them what they usually pay. Many times it's 2-3%. Others will tell you they pay a flat fee of x dollars.

still stuck..

I have a place i have been trying to get info about and i though about looking for investors who might like to buy it, but i guess i'm looking in all the wrong places cause i can't find one!! Anyways now i've decided that i want to buy it myself and i have no money to put down on it. It needs some major work but i know it has great potential. I don't know if i should contact the owner, or get more info first, or even see if i can get a loan. I'm just lost. Also i had to get my operating system re-installed so now i don't have a sound device and i can't figure out how to download it. i can't hear any of the audio sessions. if anyone has any advise at all, please send a personal message to me because it takes me a long time to get back to where we are.



Hi everyone! I am new to this and very interested in profiting from this industy. Like a few others here I am an at home mom with no money and a strong urge to be independent of my husband and make money on my own. I just joined today and reading many of the posts here are very encouraging. This is the best decision I have made yet. Thanks to all of those who are gaining experience and sharing with valuble information with others. Good luck everyone!

how can i compete with everybody else

how can i compete with all these big brokers adn real estate agents when im just satarting adn dont have that much capitol or experince


Hi, this is my first time posting and I am VERY NEW to this real estate investing. I have just finished reading Dean's book, "Be A Real Estate Millionaire." In reference to obtaining an LLC, do I need to get one even if I haven't located any property? I guess my question is, how soon do I need to get an LLC and how does it affect me when it comes to tax time if I haven't bought or sold any property? Thanks a great deal, "The Green Horn".

I love real estate!

Thanks for all the enthusiasum. I love this because it can make money for everyone. There's endless possibilities.



More Details

Hey Sully. this is really good info. i wanted to try this. Can you please give me more details in order for me to get started, such as:
1-how much should my finders fee be?
2-what paperwork is necessary?
3-how do i meet w/the seller and the investor----for example: do i meet w/the seller and have them assign the property to the investor while the investor is there? or have them sign first then introduce the seller to the investor?
4-when you say "assign" what exactly are you referring to? Do signing the title and mortgage over to the investor? or a quitclaim deed? etc.....

Sorry for all the questions but i like to know as much as possible before i start. Thanks.

Also feel free to email me LusciousInc@****


I know how to go about getting an LLC but what type of LLCs are you referring to?
I dont know how true this is b/c i have 3 LLCs.

i think the triplex would be

i think the triplex would be better.....but thats my opinion

living in a fixer upper

My brother and I are in the process of buying our first house.The contractor who was fixing it ran out of money. It has all new siding, windows,and roof;however the inside is down to bare studs.My brother is a contractor and I am a Landscape designer so we are going to fix it up.Bought it for 148,000 and homes in the area are worth 240,000-500,000. My question is, what kind of mortgage should we get we want to put as little down as possible and can my brother live in it until we find a duplex for him to live in?I need some help with some creative financing.We both have good jobs and credit.I own my own home and a multi-family.Any suggestions?

RE deeb

It sounds like you have a great opportunity there, great job on finding it. But first you need to either call a real estate agent or research online for the comps in that area. If you have read any of Deans materials then you may have a little bit of knowledge on that topic. I say that because you said the homes in that area are selling for $240,000 - $500,000. You need to know what the comps are so that you can calcuate if it is even worth attempting; once you know the repair cost and so on. Then talk to your bank and see if you are able to get a construction loan, I believe the payments may be different
(don't quote me on that), but you may be able to get one that way. Before you get a loan, you need to calculate the repair costs and other costs as well, and then take the next steps into purchasing it. Don't jump into it without doing your homework and remember to not over-rehab, I see that mistake to much. You have a good project to work on and I hope that it works out for you. Good luck!!!


I use to form my companies.
Forming an LLC then buying properties in the name of the LLC gives you plenty of personal legal protection. In other words, in the event of a lawsuit concerning the property, the LLC will be sued, NOT you personally.


Forming an LLC online takes only a few minutes. The paperwork then has to be filed with the Secretary of State in your home state. This process usually takes 5-10 business days.

hey, i'm new to this real

hey, i'm new to this real estate as well. thanks everyone for all of your advice. I was wondering if as well as finding an investor, how would someone with poor credit and no job use the none of your own money system to start turing property over for profits? Maybe keep trying until I find a bank that will finance me? What else would work or help me out?

Good for you Wanda!

I am still reading the book and I got it over a month ago. I know fear is my enemy and I am fighting it with everything I can muster. Keep up your positive approach and let me know how things are going with your investments. I will do likewise!




One strategy is to find people that can't qualify thru banks for a mortgage. You can find them thru advertising, realtors, etc. Then find people that are having trouble selling (motivated sellers) such as people in foreclosure/pre-foreclosure. You can find them with Dean's Automatic Foreclosure Finder for example. Now, you basically broker them together with a lease option (which you can read about in detail in Dean's book). With this example, no money down (from you) you'll get a lease option between you and the seller and then a second lease option between you and the buyer. This is called a sandwich lease option. In each lease option, you'll designate how long the option to buy will be: 1, 2, 3 years, etc. I'm sure Dean's coaching program would walk you thru this process on an actual deal. I would give them a call. Someone help me out with the number. Hope this helps.


Anyone help?

How would you know what is a good deal to reasign (no moneydown)? Please give me a real life example

Thank you,


Syndicate content