BRRRR Strategy for someone with poor credit and little to no cash

[Orlando Paz]

How well does a "BRRRR" (Buy/Rehab/Rent/Refinance/Repeat) investment work, if you are starting off with poor credit and very little (if no) cash? Could such a strategy be possible? On the repeat portion of this strategy, will getting refinanced with a conventional loan be a possible?

[Charles Worth]

@Orlando Paz

Like Jay pointed out the problem is you are the mercy of the banks and banks typically will want you to have good credit, a good income or both. 

If the deal is good enough though you may want to consider some type of partnership, private money, seller financing or any of the many other no money down strategies.  Here is a book on the subject by Brandon Turner that you can get through the site:

http://get.biggerpockets.com/nomoneydown/

There are also a lot of free blogs and posts here about various no or low money down strategies many of which do not require great credit either.

Lastly, if none of these work you can consider wholesaling the property. You may make a lot less but you will get some good experience and maybe make a connection to a buyer who you can utilize for your next deal as a partner, funder etc.