Can I Start With No Money or Credit? Is Flipping Legal?
by David Whisnant
This is a critical article to read if you have a strong desire to be a real estate investor, but do not have any savings or income to operate on a conventional playing field. Remember that to get a loan from a lender, all you need is cash OR credit. Thus, if you have some money in the bank, or a 401(k) with some money, lenders will loan you money even with poor to marginal credit. If you have excellent credit, you can get a loan with no money in the bank. Thus, you only need credit OR cash to get loans. Remember that after your first deal, you will have filled that requirement, as you will have cash. (Don’t blow that first $30,000 in a BMW!) The hard part is learning how to do that first deal, and...
[ Read Full Article Here ]