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Updated almost 3 years ago on . Most recent reply

User Stats

118
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35
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Mohammad Haidarasl
  • San Antonio, TX
35
Votes |
118
Posts

Can I still do this?

Mohammad Haidarasl
  • San Antonio, TX
Posted

I was a heavy user of the site about a year and a half ago. I never really secured any deals while I was trying to wholesale. However, I have wondered about something and I'd really like your input. My main interests in RE are in wholesaling and rental properties. I'm less interested in flipping, etc. With that said, I'm not a rich fellow and don't have a huge savings. I'm Muslim; my religion prohibits dealing with interest; either directly or indirectly. I cannot touch interest by a bank, person, etc. Is there still a way to do this or should I just forget about it? My goal in the future is to own several multifamily properties and rent them out to tenants. Considering that I cannot use a loan other than a 0% interest one; which I'm assuming doesn't even exist, is there any way to still accomplish my goal? 

Thanks.

Most Popular Reply

User Stats

991
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781
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Christine Kankowski
  • Real Estate Agent
  • Temecula, CA
781
Votes |
991
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Christine Kankowski
  • Real Estate Agent
  • Temecula, CA
Replied

What you can do is invest in the lower dollar amount areas, where the prices are too low to secure a loan anyway.

There are places in the midwest - indiana, ohio, michigan where you can start with the entry level homes. 

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