No credit and no money

[Eligio Acero]

So I'm tryin to figure out what would be the best type of loan I should try to use to do fix and flips on single family homes. I'm currently looking for deals in the San Diego area and it being expensive here I'm worried that not having any money and having bad credit is gonna get me no where and no find a loan can someone please help me! Now I know that fixing my credit is pretty much number one and I'm in the process of fixing that so that's already my number priority!

[Natalia Collini]

I know hard money loans don't use your credit score to make their determinations. It's whether the deal you bring to the table is worth financing. So in that scenario it would be all about bringing the best deal you can find to them. 

Otherwise I would suggest networking with local investors to try and find some partners. I know that in my area I have found several people who would be willing to partner with me and fund any deals I can find, so long as the numbers work out. Is there a local REIA you could attend to start meeting other local investors?

[Mike H.]

I would concur with Natalia's advice there. Find a partner. Its tough enough investing in real estate with money and with good credit. But if you have neither, its going to be extremely difficult.

Find a partner with money and good credit and then go into business together. You need to bring the deals to the table and/or be able to manage the rehabs though. Otherwise, there won't be much you'll be bringing to the table to get someone to partner with you.

But the one thing you'll find is that a lot of people like the idea of investing in real estate. But many don't want to spend the time, energy or effort. Although they would love to partner someone that will.  Then they're a part of something fun but they aren't working a second job.

Partnering is definitely the way to go.

[Account Closed]

Yeah if you have limited, money maybe you can pull off a HML, but if you have no money find a partner do the sweat equity, and do a few deals like that till you build a little wealth to do it on your own.

[Eligio Acero]

I will be going to my first REIA next week so I will definitely keep that in mind and hopefully get a lot of info out of it as well, Natalia Collini Mike H. thanks for the advice it's very much appreciated!

Hey Paul Spradling I was wondering if you could message me privately and possibly get together for lunch and talk more REI I would love to to pick your brain a little.