Buying with no money and no job

[Ben Jespersen]

This is my first post, so please forgive any mistakes or blunders I make during it.

I just quit my retail job yesterday and am starting work as an independent contractor for a flooring company. I also just found a townhouse that my wife and I want to buy, live in it for a year, update it, and sell it for a good profit. The property has a lot of upside, we can build a third bedroom in the basement, update the kitchen and bathrooms, and the market keeps going up with a lot of people migrating into the area. 

My question is, how can I buy the property with no money down and no job? I've spoken with a lender and asked about hard money lending, but I don't have a big enough chunk of money to put down. I wouldn't qualify for FHA or conventional because I just quit my job. And I don't have a 1-2 year job history as an independent contractor to prove how much I'll be making.

What would you guys do in this situation? 

[Theo Hicks]

You're only options are to (1) get seller financing, (2) find a hard money lender or private lender to front 100% of the costs and (3) find someone else who meets the lending requirements to sign on the loan