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Updated over 9 years ago on . Most recent reply
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No credit and need a loan
Hello, to sum up my story, I just recently moved to the US from the Philippines to find work just over 2 months ago and have no credit to speak of and as of yet not much savings. I now have a full time job and have an interest in realestate investment since I took up Entrepreneurship in college back home. I'm new to realestate but interested in investing in multifamily homes (duplex, triplex, etc). My idea is since I currently have a full time job and don't have much downtime, I would go through a Realestate Investment Group that could handle on site management and finding tenants in exchange for a rental percentage. It would cost more, but this is a long term investment until my cash flow can replace my current income the more properties I invest in down the line (assuming my first investment is successful and I can use that marketing strategy to apply for more loans towards more property investments). Since I already have a place I'm living at close to my work, I don't intend to apply for an FHA loan for my first property. Do you still think I would be able to get a loan approved? Any feedback and suggestions would be greatly appreciated, thankyou.