No credit, low income, think you might have found a good property but don't have a clue what you are doing???

I took about 15 minutes to surf this site this morning and was very, very impressed. There is a HUGE variety of finance options here. I have honestly never seen a lending site as useful as this one! 

Unfortunately, one thing jumped out at me: So many people with no money, little or no income, and no credit or experience think they can be a real estate investor because they see a $300k property that can be bought for $240k (just an example). If you have bad credit (which means you are not a responsible person), low income, and you are looking to buy an investment property with someone else's money, GO AWAY AND STOP WASTING EVERYONE'S TIME!!! Lenders look at this and laugh. The only Broker that will touch you with a ten foot pole is a Broker that has never closed a transaction. What are you expecting, someone to throw money at an inexperienced, irresponsible person, and let YOU own the property? Nobody needs you to find them a property, we can find our own, and well-paid bird dogs specialize in finding the deals that real estate professionals do not.

I'm sorry, this is a bit of a rant, but why waste yours or anyone else's time by making these posts on this or any other website? Instead, start paying your bills so you can fix your credit, get a better job so you have a verifiable income, put some money into the transaction, start small and build yourself some experience so you actually know what you are doing, and then you can buy some properties!!!

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I agree! If you can't even pay your own bills, what are you doing trying to buy real estate on someone else's money???

I liked this post so much that I made a similar one yesterday.

I don't agree with this cause not everyone that has bad credit that doesn't mean they are not responsible. A lot of people just don't have enough credit established and have to work a dead end job just to make ends meat. Not everyone has been giving money or inherited money from family. Everyone doesn't have money like you. Buying a Property for $240,000 might be rough if you think you can sell for $300,000. Sounds like to me your greedy. I've never done real estate but I'm learning I've got bad credit and no income but I do have a lender so yes it can be done and have a partner too.
Patrick just to let you know I have a couple of friends that bought properties with bad credit and no money of their own.

I don't think that Patrick is trying to crush anyone's dreams. Real estate is definitely an industry where unlikely dreams can become amazing reality. I think that what he is saying is that you need to be able to bring something to the table, even if you are new to the industry. Having a decent property is nice, but you have to bring more. If you lack money then you will need a smart game plan and exit strategy so the lender knows that they will be paid back. Having been a lender in my own past and knowing that Patrick is a proven lender right now, I can say that lenders do not take chances on people, they take chances on properties, because that is usually more reliable than most people. The question, Mr. White, is what do you bring to the table? It is not a question you need to answer here, it is just something for you to consider yourself. Why should a LENDER, and Patrick Harding is exactly that, give you their hard earned money?

Don't answer that question here because people will likely jump on it but it is something for you to consider. The best thing to do is to learn from a successful investor, if they are willing. That, or work for a real, direct lender as a loan officer or assistant so you can learn the business. BTW... a successful investor is not someone that has flipped a house. A successful investor has a steady and long term track record of profitability.

I cannot speak for Patrick, of course, so this is just my take on his response.

You are right that's why I do research network 28th investors in my area and in here and other websites. I have a lot of people that gives me good sound advise. I have found a couple of lenders that will take people with bad credit and no income of their own. Doing flips may not make you rich but it is away to start and learn but you can also fail if your not careful.
Thanks Admin for a great site. Hope to get more advise from people on here.
Learn from a seasoned investor with multiple cash flowing properties. If you can't then do as Admin suggests and work for a lender so you can learn what it takes to qualify for and buy properties. Many lenders, large and small, will hire a new person willing to learn. You should have little trouble finding a good place to learn. Also, Patrick Harding is a wealth of knowledge. I have brokered Oregon deals through him and he is the real deal.
Through my research I've found out that a lot of investors and lenders want help you. I've networked on several websites and even in my area and lots of these people will not teach you nothing or want hire you. But I do get a lot of advise from those that are on some of the websites I use. Some even help by giving me formulas that they use. So there is people that will help to a certain point.

I do not agree with Patrick. Because that is also the voice of inexperience. There are a lot lenders out there who will fund your deal with bad credit. As long as you can show the math of the income from that property covers everything. Plus, you have to legally be set up as a real estate LLC

 Once get into these loans you will want to refinance asap . The laws of refinance are: Residentail you can refinance after six months of payments. Commercail after 12 months of payments.

Need know more about any real estate thing? Then visit:


   William Anderson of  Real Estate Solutions 4 All  LLC



#1, Patrick Harding has been lending for several years. I know this because we live 10 minutes from each other and have collaborated on multiple real estate transactions

#2, You do not even have a profile picture, have trouble with spelling, and are advertising a "Facebook page" to promote your business. No profile picture on a social media website = unprofessional and not someone that pays attention to details.

#3, Can you get funding with bad credit? Yes, within reason, but will need to show a track record of successful transactions that have been completed and paid for or refinanced according to the terms of your previous loans. You will also need to show ability to pay and a solid exit strategy. Only then, if you have a very low LTV transaction, is funding an option for those with bad credit.

I used to think that people with bad credit were irresponsible and not worth anyone's time. After I matured and talked with people I learned that some people have bad credit because of what someone else did to them.

1. identity theft

2. uninsured motorist accident

3. unexpected hospital bills

4. divorce

5. Death

6. Failed investments

Anyone that will lump everyone with a mark on their credit into a group of worthlessness is just plain ignorant and needs to sit down and shut up.  It could happen to anyone.  There are a lot of successful people with bad credit.

just my two-cents to this half a cent remark.


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