Young Investing, Is it possible to secure real - estate with no credit

[Genus Powell]

Hello everyone.

I'm a student in the Savannah, Ga area and I'm trying to make my start in home investing. I'm 21 with no credit and trying to find a way to purchase my first property without going through a bank. I wanted to know if anyone has any experience or advice about creative financing and private owner financing?

Also as a college student I believe that renting rooms to students can be profitable if students are screened correctly and the home is well managed. When I start acquiring property I plan on testing testing the waters of student housing. What do you all think?

This is my first forum post so forgive me if I'm coming off as a newbie.

[Belinda Lopez]

@Duncan Taylor

Why can't he do both? I've seen investors as young as 15 and 9 years old! Their parents helped them with the basics but the kids were the ones who did the work and had the motivation and desire to make it happen. We just had a 9 year old girl as a speaker at our Women in Real Estate meeting at our Houston REIA and she knocked it out the park! She's been to several events and is learning the basics b/c as she told us she, "wants to help take care of her family." She's been interviewing several local top expert investors for school reports.

To me, the faster you start teaching yourself, the better off you are. I've got my 22 year old nephew working with me (he's a college senior) and I'm going to help him buy his first small multi-family soon. How many times have I heard seasoned investors say they wish they had started sooner? All the time! Don't quit college - yet, but don't let anyone stop you from reaching your investing goals. No money, no credit IS hard, so yes, partner with a local expert, find a mentor, join the local REIA and start learning. Good luck!