Starting out in REI with Bad/No Credit

[Justin Rogers]

Hi, im from Ontario, Canada and new to this site but so far i love it!. So, i have taken the rich dad and another 3 day seminar, but now im deciding to do it myself. I found a coach/real estate agent so far with connections but not for financing. Technically there are 3 of us doing this but we all have bad/no credit or the wives wont let us use our equity so we are having a hard time finding financing. Also the real estate agent said to find how much money we can get 1st than look for properties but when we talk to lenders they want info on the property 1st (unless we're just not asking the right questions?).

So...... if anyone out there could help with advice, contacts to talk to, creative financing ideas please help steer me in the right direction. If you cant answer certain questions in this forum, PLEASE message me.

THANKssssssssssss

[Matt Geerts]

In my opinion, if your deal is good there is no worry about finding the money. Begin to generate contacts in private money lending. Find friends and family who would be willing to lend to you at a staggering high interest rate if you could show them a home-run deal.

My first "real" investment was a no-conditions contract with 5 weeks to close knowing FULL WELL that I had absolutely no means of getting a bank loan and having no down payment money. The deal was crazy. I found 100% private mortgage and I've been using line of credit to rehab it. 

If you can't find the money - you didn't have a deal.