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Updated about 14 years ago on . Most recent reply

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Monique Bright
  • Professional
  • Greensboro, NC
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How to buy my first property with no money and fair credit

Monique Bright
  • Professional
  • Greensboro, NC
Posted

Hello everyone,
I am a newbie! I have been wanting to invest for a long time but I don't know if I am scared or just don't know where to start. I live in Tampa Florida and there are so many cheap houses and this is the best time to buy here. I just don't know what to do I don't have much money and my credit is not great so how do I buy my first property?

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Get a job, save some money then begin. Buying in a rent to own deal is usually a rip off.

At the very least you need closing costs to actually buy.

You could take an option and sell the option. That is usually the no money down deal, but you may need an option price to the owner.

You might patrner with a money guy and manage for him, but with your inexperience, that will be difficult too.

Without knowing more about what you have in mind or maybe a deal you're thinking of, out of the blue that's about it.

Stay with the dream and study.

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