How Can I Convince Lenders To Lend Me Money Without Credit

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There are no loop holes. You need to concentrate on changing your life style. People that live check to check do so as a result of choosing to spend as much as they earn. Everyone has the ability to live more frugally than they do. Also make a plan to do what is necessary to increase your income and when you do bank every penny. You also need to start working on building, or rebuilding, your credit. Get a credit card with a low credit limit and start using it. Make sure you keep it paid off as you use it.Two things you will need to get ahead in life, regardless of what path you choose, are money and credit.

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Pay yourself FIRST, join a credit repair company, pay down your debt without hurting your credit, it will all come through.

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@Eric MartinezMaybe this will come off as harsh, but I once needed the same advice.. I've been on both ends of the credit spectrum but if your are living check to check, even if you secure financing, how will you afford any payments? If you truly have no net income at the end of every month then you wouldn't be able to afford even the smallest installment payments.I've been there, it's horrible and makes life more stressful than it should be. Focus on decreasing expenses, cut cable TV and cell phone plans. Only spend money on necessary expenses such as food and gas. If you have an auto loan sell your vehicle, buy a late 80's early 90's honda/toyota and buy a $10 haynes manual to avoid mechanic costs. Create a plan and hit your goal by any means necessary. If you aren't able to manage your personal finances I image it would be difficult to manage any investments as well.Good luck to you brother.

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If u want to use a bank follow all the advice in the post. What I would do is build your skills and learn how to find problems not properties. Learn creative acquisition strategies such as option, lease options, land contracts, sub2, wraps. These all can give u the capability to acquire or control a property with no money no credit.

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First thing is not to look at your situation and let it deter you from trying. Everything described in you post is what's stopping you. Think about what can propel you. @Joshua Dorkin and @Brandon Turner say it all the time. "How can I?" How can I get this done. Start with what you have. Desire? Drive? A why? Time? Be an asset to someone who maybe has the money but doesn't have any time. If you can provide value in any way that's worth something. Call every FSBO on Craigslist, get a meeting with the seller and negotiate a good deal someone else will want. Get a second job working for an investor, show you have value. BP has countless articles with actionable steps to starting your investing career. Just start taking those steps...

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All of the above.....But to answer your question the only other way to get a lender to work with you regardless of credit situation would be to do a JV deal (profits split 50/50)...BUT in order to do this kind of deal the lender will require that the purchase price and construction cost and ARV be in line..so in a nut shell...you better know what you are doing and most lender will most certainly verify as well. It starts by building a relationship with a local vender and showing them you know what you are doing. Note that not every lender does JV deals.....your gonna have to search for the ones that do.Good luck.

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Eric Martinez another option that you have is to find a great deal and then bring it to a rehabber and see if they will partner with you on it. If you can find great deals then you'll either find someone to buy them from you or you'll be able to find investors. You may need to partner with someone who has experience however to get a lender interested.

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Eric Martinez saving and improving your credit are a mandatories and wholesaling is an option. However, you may want to figure out your unique personal advantage and find partners that may be able to benefit. Are you excellent at finding deals? Analyzing deals? Managing projects? Figure out what value you offer to anyone interested in lending money or partnering and use that to create your first deal.

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@Eric MartinezHey Eric. To tack on to what the others have said, if you find a good deal, there may be someone in your local REIA who will partner with you for shared profits.If you can successfully collaborate on a deal or two, you might parlay the proceeds into your own deal. Very solid rehab/flip deals don't need a huge down-payment or high credit score. Figure about 15-20% of project cost you'll need out of pocket to cover everything.

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Hi Eric,We're in the same situation but we're learning and working towards our first wholesale deal. Our plan is to do several wholesale deals to build up some capital and then work on finding our first flip. If you can find some great deals to wholesale, it's a great way to get some cash to use for bigger deals and other strategies for a bigger profit. Also definitely find a local REI meet-up to network and build relationships with other like minded individuals. Be sure to offer value to those you meet!Good luck to you! :)