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?


hey sully quik question ref

hey sully quik question ref to yr letter to nina. when you find a tax or forclosure and put down a deposit of 100 bucks as you say, do i need to be pre approved from a bank and purchase prop as if i was buying it? and put in the assignment clause or do i have to go thru the whole process that is what scares me, and it can getr expensive what steps do you take with the investor and what if they dont come up with the cash then what? im new and a single mom having a hard time and hurting bad. its very personal id like to expalin privately please help e mail me @ thanks in advance linda

---- EDIT---
Linda: Do not post your personal contact info in the forums, it is against the rules. You can contact people by private message ("Send PM" link) and send your contact to them that way. Thanks -DGadmin


Thanks Elena for the time. I really appreciate it. I am in an area that there is alot of "For Sale by Owner". I am going to talk to some of them as well as work on Foreclosures. Is there anyone out there that knows of a site that is either very low cost or even free for foreclosures. I have read through this string of posts and there is really good information. Thanks to all for the words of wisdom. I am scared to death to take that first leap of faith. I realize that if I am not careful there is a lot to be lost. Thanks again.


Hi I am from NY and I read

Hi I am from NY and I read the book about 2 months ago but I put it back on the shelf.I have recently reviewed the book and I am pushing myself to jump in and get started. I also do not have the best credit at this time, so I am reading up on assigning the note and collecting the finders fee. If there is anyone out there with some good step by step advice please let me know. Thanks Kathy


Hi RIna. im fairly new to all of this and just wanted to know how the program has helped you in specific, b/c i could really use some real help/advice in getting started. Thanks!


linda, their will be some instiences were you will not need a PRE-APPROVAL letter from a bank, such as, PRE-FORECLOSURES, FOR SALE BY OWNERS, but, on the other hand you will need a PRE-APPROVAL letter, or PROOF OF FUNDS, for REO's, SHORT SALES, HUD, VA, and YES, you would proceed with the sale as if you were going to purchase the property yourself, theirs no need to be scared, just make sure you attach an ASSIGNMENT CLAUSE, and I would add a couple more clauses like, making the sale CONTINGENT UPON FINANCING, INSPECTION CLAUSE, and this could be a big one: MAKING THE SALE CONTINGENT UPON PARTNERS APPROVAL, even if you don't have a partner, this will give you a legal out(of the contract), CLASS DISMISSED, SULLY. Sticking out tongue



New @ This

I recently purchased the entire "Think A Little Different" package. I am a 34 year old male. I was in the USMC for four years. After I got out of the USMC I got a good job that I can promote semi quickly. Well to make a long story short. I promoted up and to ensure that my wife (now ex) didn't have to work so she could raise our beautiful children, I had to work a tremendous amount of hours, which I did. Well she hit me with a divorce 2 years ago because I worked too much. Mind you I am on salary so I do not get overtime. The judge said that she could keep the kids and I would have to pay her alimony. Now I am living pay check to pay check trying to ensure that my children get everything that I never got. Her and I get a long very well for the sake of the kids.

Well I was up early one morning stressed about money and I seen the infomercial. I figured that this may be my opportunity. So I went for it. I bought the entire "Think A Little Different". I have read all the manuals, listened to all the CD's watched the DVD. He is the problem. I am a highly motivated person, BUT I am the type of person that is a hands on learner. I excell very fast once I am shown how to do something. I understand that every state is different with laws and all. What I am looking for is someone else that is in the South Bay area of Southern California. That has some experience that can take some time to help a struggling guy out.

I have printed out numerous pre-foreclosure and forclosures. I went and looked at the outside of these properties. Took pictures. I even talked to my father about the possibility of being a hard money lender on my first deal. I am by no means asking for a hand out. I know that is not what this is about. I am just asking for someone to show me the ropes on a deal. Being that money is very tight if I had any thought that this program wouldn't work, I never would have made that first step. I know in my mind that I can do it. Just looking for some guidance.

Semper Fi,

Maintaining Your Enthusiam

For those who do not think writing goals works, I encourage you to write you short term goals (6 months-One year,) you long term goals (Three to five years,) and keep them in front of you. If you read them twice a day, your subconscious will attempt to make them happen. There have been many books written about he process. Think and Grow Rich, As a Man Thinketh, Wayne Dyer's books. Visualize you and your family in a paid off house with two paid off cars in the driveway, etc. It works.

I was caught up in the recession of '92-'93 in So. Calif. We lost all our equity ($150K) and had to sell a house for what we owed. We had a couple of credit cards and our furniture. Since then we have built our situation back to owing our home, and having a investment property. You can do it too. Just do it, visualize your future and live it. Things will appear when they need too. Best of Luck.


If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125

to lost and found

No dont give up. Ive had the book for quite sometime, and being a teacher you would think I wouldve understood also. I had to read it over and over again and I still have millions of questions to ask. I am glad now that I recently joined these forums. I am learning a whole lot from you and others. I understand some and still have a way to go. My book is highlighted in every color marker. I have co-workers that have seen me study to ask me all kinds of questions and now Im throwing it out to everyone. When you ask questions, you will learn. You will defintely catch on by keep re-reading and reading what others on this web are asking and answering. So Dont give up. It will be worth it. And you are not the only one. Take a Deep Breath. Breathe in let it out slowly go over each thing one by one ask questions then once you understand that then go to the next. We have time.

Getting started

Hi, I just recieved Dean"s book on my birthday today 6/18/ and I'm reading the book really fast and taking notes as I read. The Dean's List is packed full of information. Take time to read it carefully and do the things step-by-step like he said and watch what happens. I have until July 18th to do my first deal according to Dean. Wish me the best. I am a true novice but I read alot and some of this stuff I have read, but did not know where to start. I am on my way to becoming a millionaire. Watch for Loria G Thanks LLG

Happy birthday

First of all Happy Birthday and second I do wish you luck and all the best see you at the top. Lilie

backwards cycle ?

I have just purchased Deans book and have read about 4 chapters about 5 times each, trying to understand real estate cycles. It seemed that the examples were backwards from how my mind thought about it.I understand pretty much the concept that national and local factors play a huge part in what cycle real estate is in, but what I was wondering is if it's possible that the cycle looks different from a buyers perspective compared to a sellers perspective.
forgive me if this seems a stupid question, as I have always been told that my mind looks at things a bit different than most:^)

Thank You,

How much for a down ?


I realize that a down payment on a real estate investment will vary depending on the price of the house, but I was wondering what would be considered a decent amount to start investing with for a novice such as my self.

Thank You,

Impossible to say. How much

Impossible to say. How much do houses cost where you are? What level of house are you looking for and what do you plan to do with it?

Hey Dani (Ms.Luscious)

Sorry this is so far past your post. I've been VERY busy with REI.
I have to say the biggest thing I have received from the program is confidence! Along with ALL the information and great stuff to learn in Dean's book and the coaching curriculum, the thing I find invaluable is the motivation and encouragement from not only Dean and the coaches, but all of the members on this site. Things I would NEVER have tried before in REI I have had the confidence to pursue in the last month or so. It took me awhile of being a part of this site to really have it sink in that I CAN try new things, and it WILL work! I almost backed away from a deal over this past weekend because of fear of the unknown (I won't go into detail) but remembering what I have learned here pushed me past that wall, and now I am very confident of my decision.

Anyway, DO NOT be afraid to try. Fear of failure should never keep you from success!!!!

Good luck, Dani. We are all here to back each other.


"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:

Backwards Cycle? to yestosuccess

Interesting observation, Jeff, and you are quite correct. A seller doesn't want to admit he is in a downward cycle, because it means his equity is decreasing. However, a buyer had better realize it and set his offering price accordingly - that is, lower than comps a few weeks ago, maybe a lot lower. This same sort of difference may occur in the other cycles as well. Just like in the stock market, some people have a distorted view of what their assets are really worth. But the stock market has instant feedback and lots of comps (each share of xyz stock is like all other shares), but with real estate it takes time to expose a property to the market so you can be confident of its value. With very comparable recent sales, it's easier, but more unique properties are harder. If you are selling, you can always come down, but if you set the price too low you never know the price it might have brought. So, identifying the cycle helps you adjust your thinking, and this is a major advantage that Dean's book provides. Hope this helps some.


A word of encouragement and thanks !

To all who are monitoring this site. I started with Dean's course only 1 month ago. I've already aquired 2 properties. One with a small down payment of 1,000.00. And the other property was thrown in for free. Now you might say that you don't have 1,000.00, well neither did I. After being honest with the seller about not having any money, he agreed to accept installments on the down payment, owner finance the balance and give me immediate occupancy. I already have a tenant whose security deposit covers half of my down payment. I did this with absolutely no money in my pocket. By the way I also have deplorable credit. So the 80,350.00 in equity that I have in the 2 properties I can't currently tap into. So now that I know I can purchase properties as easy as I did within one month of reading Dean's course, I plan to implement "assignment of contract" strategy in order to make some cash. I want to thank Sully for his input on contract assignment. It's gives me a clear path to get started with the process. Remember everyone, keep working your plan, if you plan to one day not have to work. Search the ads, make the calls and meet the sellers.

lestertrader -did it in 30 days for 80,350 in equity

All good things must come to an end...

This thread has been a good one, lot's of good info in it. However, its gotten so big is getting hard to navigate to specific pieces of information. I'm closing the chapter on this one so the questions and ideas can be streamlined in more specific topics.

For any questions or comments you have relating to ideas presented in this thread, please first search to see if a topic already exists for the topic you want to discuss.

If it does, please post your thought/question in that topic.

If not, please choose an appropriate forum section and create a new topic in it.

Syndicate content