I used mostly credit cards and borrowed money for the purchase down payment and rehab cost, and now that we're finishing up I'm doing numbers on payback and the next property.I want to keep up momentum and start the next project soon, but by my count, it will take me somewhere around 5-6 months to pay off all the debts I incurred in the process of purchasing and rehabbing the house (not including the mortgage). 

I just ding their credit and move on.

Income is the number one thing to consider followed by credit history.

From what I have seen while looking at sample tapes, FCI exchange/other websites, and other comments; is that performing notes cannot be bought with that much of a discount (but I haven't seen what local banks/credit unions provide in their pools/tapes).

Also, if you have acquired the line of credit but haven't actually withdrawn the funds most banks would still be OK considering that as a credible source of down payment without having the actual found in your account as cash.

I also have some hard money lenders available to me through personal relationships and a fairly large credit card line to finance some repairs.My step between now and #1 was buying a duplex.

hello everyone i am a 20 year old full time college student trying to succeed like many others.really interested on investing real state i know there are many ways and have been reading and researching about it. have gotten to the point where i want to put it to practice. the problem i have that is making me hesitate is how do i do this considering i have no money and no credit. what could be the easiest way or safest way for me to start?

There are many ways to pay PMI:- LPMI - lender paid MI which is a fancy term for taking a bit higher rate to absorb the cost of monthly MI for the life of the mortgage, depending on your credit score it may take .125%- .50% more in rate to absorb your entire premium for the life of your loan- BPMI single premium- similar to the above it eliminates the monthly MI premium for the life of the loan but BP part of BPMI stands for "borrower paid," so as you might have guessed the borrower pays this premium in a cash sum at closing either from their own funds or seller concessions they've negotiated from a seller or a gift from their giftors -BPMI monthly or split premium - MI can also be paid as monthly MI which is the stereotypical way to pay MI and it can also be paid as a split premium or hybrid whereby the borrower pays a good chunk upfront to have a greatly reduced monthly MI payment.Most people take LPMI and absorb it through the rate via LPMI to eliminate MI for the life of the loan. 

Decent credit and a decent property is required, but if those things aren't hurdles (and they don't seem to be from what I've read), that would be a strategy to pursue.Stephanie

Many of these investors are using 1031 exchange tax benefits to transfer assets from higher priced markets to Boise.