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how can someone invest in real estate with poor credit

I have poor credit, on a fix income, can't afford to buy properties with little income i have. I have spoken with one of your agent told me they can help me get 5 deal if i have to paid $500.00 dollars, I can't either afford that. I already know two owners will sale their properties to me, but they want money. I can i get these properties with no money or poor credit. I have read your no money down book, but i am still trying. Dean what can i do in this case, what am i doing wrong and how can i paid your agent to help me i don't have $500.00 dollars (right now I am trying to saves money)


Invest, no money or credit

cactusbob's picture

Hi, Julia,

From what you write, there are two approaches you might consider. They both hinge on being able to buy the properties at prices that are well under market value.

One is to find an investor who has money but isn't interested in spending the time working on a deal. You could work up an agreement wherein he would provide the money and you do the legwork. What sort of split you could work out would depend on the value, terms, etc.

The other could be to find an investor who would buy the property himself, either as an assignee (you would work out the terms and price with the seller, with the right to assign the contract to another) and assign it to him for a fee, or to give you a finder's fee and buy it himself directly from the seller.

Either method would require that you know what the market value is and be able to negotiate a price with the seller that is low enough to give you a decent profit and cover all the expenses.

Good luck.