OfflineI've been asked, by a few people that want to get into investing, the following question:
"I have Good Credit but little to No money, what can I do in this real estate market?"
I've offered a few different suggestions, but I wanted to hear some feed back from some of DG students...so please, what would you tell these people or how would you answer their question.
Thanks
Nick
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The good credit is key and as the good credit gets used it will be built up like a muscle. The more it is used and flexed the larger it should become. The best way to start in investing with little or no money is to look for partners for deals, owner financing, bank 100% financing, bank financing with a wrap around mortgage for the 20% down payment, or start building up a cash reserve by finding great deals and assigning them.
A great suggestion would be to find a great deal and purchase it with a partner and then do a refinance on the property. In most cases they may be able to get the home for no money down and have extra cash for their next deal. I hope this helps. Believe and Achieve!
- Joe
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Thanks Joe, good tips