What If Your Credit Is Not So Good & Have No Credit Cards
Is it possible to purchase without these things.
I have always wanted to do this but if the money is not there then what.
If you say find investors where do you find them? Isn't there anyone out there that would like to take someone with nothing and show them (me) how to do this.
Lisa
Yes!...Absolutely... I do it and you can to... once you have the knowledge, tools and can face the fear of just doing it!
Can you show me where to get all that you have mentioned! I really want to do this but desperately need guidance!
Lisa
You're going to need a two-pronged approach. The first is to get your credit in order ... try www.creditinfocenter.com or creditnet or another community of nothing but fixing up your credit for details of self-credit repair. Work to get negatives off your report, simultaneously climbing the credit ladder from fuel cards to specialty retailer cards to lower-tier department store cards to Visa/MC/Amex/Disc.
The other prong is learning the R.E.I. Business. With no money, your best bet is to birddog deals for others, learning to spot what is and is not a good deal. Think Bud Fox finding takeover plays for Gordon Gekko. Only for the small stakes of houses, not the gigantic stakes of multinational corporations.
At some point, your abilities at deal finding and your improving credit intersect to allow you to do your first deal on your own.
I understand what your saying. I think the first idea may take alot of time.. So the latter sounds appealing . Just how doyou find people to birddog for?
Usually through networking. Look for REI clubs, call around, ask a few agents, ****Must Reach Senior Investor status before posting URL's*** know of a few investors that work in your area if you get in touch with me I can get contact info from you and forward it on to them.
There are a lot of things you can do in the beginning with no money and credit. It is a little harder, but trust me it will taste sweeter when done.
To be clear, none of this is easy...in fact, nothing is "easy" in this world. Unfortunately I have learned the harder I work, the luckier I get You will sweat, you will get frustrated, and you will want to give up sometimes...but you have to stick with it, because most everyone else goes through those same pains in your position. And it's only those that stick through who actuall make it.
I call it the fear chasm jump. Most people have the will and can't wait to get started, but when they do they end getting paralyzed and won't make the big jump over a huge chasm of fear and uncertainty.
It's tough, it really can be at times....but once you get that first deal or two under your belt, you get more faith and really start to get cooking.
Christian "The Solutions Kid" Beebe
[addsig]
Hi Lisa,
It sounds like you have a strong interest in learning the real estate business. The good news is that the business is learned in baby-steps, not by gigantic bites. No matter how much you learn, there is always more to learn. Decide what area of real esate that you want to specialize in, and become an expert. Buy books, tapes, etc on the specific area of your choice. Once you have a comfortable grasp on things, you will know exactly what to do to complete transactions. However just like anything else, it is up to you to do the homework, research and leg work to become specialized in real estate.
Money Follows Opportunity! When you start locating good transactions, there are private individuals, hard money lenders, and also people with large sums of open line of credit at the banks that will lend you money if they will in turn make money. If you dont have good credit, no credit cards etc, you will need to use private money, but believe me, this is the easiest way to buy real estate. You will find people who have deep pockets by talking with your accountant, attorney, nad people in your social groups!
Best of Success!
BAMZ