Help! How do I get a loan? Young, no credit, and practically penniless.

[Nyoka Gilbert]

I am a young student (21 to be exact) looking to invest in real estate. I work part-time, and the income just isn't enough to support myself. After rent and all my other bills, I am left with literally pennies every paycheck. It is so stressful and the job search has been long and tedious. I worked two jobs for a while, but that left little time for school...or anything else for that matter. I needed something else. Investing in real estate seems like my chance to not only alleviate some of my financial stress, but to begin forming a potentially lucrative career!

I have been doing as much research as possible the past several months, as I am very excited to get going, and feel as though I have the beginnings of a very good plan. My goal is to invest in a multifamily property, to omit my own personal rent, and to provide small cash flow. Then I could focus on school and my real estate career instead of working so much just to keep my head above water! I am confused as to how I will obtain a loan though. My plan is to pursue a fixed rate FHA loan because they require so little down. The problem is, I have no credit as of now (working on that!) and my parents have absolutely TERRIBLE credit. My chances of easily obtaining that loan seem very low at this particular time. I read that lenders will sometimes provide exceptions to those with inadequate credit, but my income is so low I don't see that happening.

I remember reading somewhere though that it is possible to find an investor who's contribution is purely their credit/ability to obtain a loan. Is this true? If so, how do I even begin to find someone willing to do that? Otherwise, what would you suggest for someone in my situation?