How do I buy cheap houses to rent or sell with no money down and no credit?
88089
Most lenders require a minimum of 2 trades that have seasoned for 2 yrs. If you do not have this then you will have a hard time qualifying for a mortgage. Especially an investment property.
833397
Depending on what other bills you might have, I would consider buying a house instead of renting.  Even with a 578 mid score on your credit, you could qualify for 100% financing.
879781
look in newspaper, craigslist.com and other places for apartments that aren't rented by large corporation or apt. business's.\n\naverage joe who is renting will not likely do a credit check and just your personality will seal the lease for you.\n\nalso don't mention any of your hard times from the past as words not spoken cannot harm you.
1069864
The best way to build credit is get a loan and pay it off. You could start by betting a store credit card. If your making payments to rent to own, then you have a line of credit with them and that should help.
479143
Yes, it depends on how long ago, but if you have other good factors (good rental payment history never paid more than 30 days late) & good payment history on your credit you should be able to get a home loan. Depending on your job stability, income, etc. also will play a role.  Depending on how the whole credit history looks you may still be able to get a zero down mortgage, or worst case may need to put a down payment.  Also, if your credit is better try to do it in just your name, if you dont make enough income perhaps you can do a no-qualifing loan.
409633
Go around to all the fisbo in your town and ask them if you could bring them a buyer that would net them the same, could you list their house. Call all the landlords that are advertising apartments for rent in the newspaper and ask them if they would be willing to cash in on all the hard work they have done on their property. Personal observation will be your number one source of leads.
723286
The book, "Investing in Real Estate" by Andrew McLean is a good book with lots of information.\n\nCheck out and visit your local real estate investors group and also take a look at thecreativeinvestor.com\n\n------\n\nAs long as you have good credit, you can borrow the funds needed to invest.  You can get better terms if the property's owner occupied.  If you want to do a quick flip, you can apply for a hard money loan.\n\nIf your credit is subpar, then you may want to partner with an investor who has money.
875032
It's not entirely impossible. How's your credit? Have you or your spouse been working at a job for 2 years or more? With paying rent, can you provide rental verification? Have you ever claimed bankruptcy, if so how long ago? There are a lot of houses for sale with the owner offering to pay towards closing costs. And if you have good enough credit, you may be able to come into the loan without a down payment and also have the luxury of the seller contributions. Depending on the house you're interested in. There are a lot of questions behind that question, you just have to get started on the pre-qual process and then find out from there.
338877
Lots of decent places in USA to do that. Most of them are in economically depressed rural America. Heck, I am in Nebraska and there are places where you can buy Huge houses on Acreages for under $50,000. There are not any jobs there unless you are a farmer...but the property is cheap!
984173
Sounds like a prepaid credit card may be the way for you to go... \n\nHere is a link to one that says "No credit or bad credit OK, NO credit check required, No employment required"\n\nhttp://www.fastcreditcardoffer.com/credit-card-search/credit-rating/bad-credit-no-credit/default.aspx\n\nGood luck.\n\n.
826921
If you have absolutely no credit. "ZERO" credit scores, I can get you 100% financing using utility, cell phone, cable or other non-reporting bills as alternate credit. 2 year job history is all that's needed and must be an owner occupied home. Hope this helps! www.TheLoanPro.com
168656
Rent a cheap apartment for a little while. During that time, save some money for a downpayment on a home. The more money you put down, the more money you'll save in the long run. The best bet is to get a 15 year, fixed rate. You'll save thousands of dollars in just interest alone.
263999
I also had poor credit, but bought my first home last year.  I went through a broker, instead of just getting a real estate agent.  He was able to find a bank that would give me a "statement loan".  That is where I had the money, just not the credit.  They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs.  There are ways, but my best way was to go through a Broker, who was able to help me tremendously!
54604
Your credit score isn't all that bad considering the national averages.\n\nHowever, you have some other options besides outright purchasing a home for sale:\n\n1. Lease Option or Rent-to-Own: Look for these advertised in the classifieds, that allow you to rent a house for a certain term (like 1 to 3 years), where some or all of your rent goes toward the purchase price. Then, when you're ready (you should repair your credit during this time), you can purchase the house. Part of your down payment will already have been paid.\n\n2. Talk to the Fair Housing Administration (FHA - http://www.fha.gov) about HUD loans for low-income and not-so-good-credit individuals.\n\n3. Look into purchasing a foreclosed home at an auction.\n\n4. Ask a close friend or family member with good credit to co-sign your mortgage.\n\n5. See if anyone is advertising "seller financing" or "owner financing", in which the seller will allow you to make mortgage payments directly to them.\n\n-----------------\nUpdate: DO NOT apply for an interest-only loan. You will be severely hit with a balloon payment down the line, or higher payments, or at the very least you'll have to refinance and pay additional closing costs. Interest rates are rising, and you won't want to do that. Stay away from these!
1021748
Easy short answers:\n\n1. find people who are having difficulty paying their mortgage or have been served a notice of default. Your local paper, people trying to rent their house and it's not renting, online servcies and such are your source. Just put yourself in their mindset and you will know where to look. \n\n2. You will need to determine the value of the house and how much equity (if any) is in the house. If equity, then you draw up a contract giving you the option to purchase the house. It's called an "assignable purchase option contract". Let's say you negotiated to give the owners 2k to move out and they have 30k in equity in the house. You now sell your contract to an investor for 5k. You just made 5k. Investors can be found by calling the "we buy houses" numbers you see advertised everywhere. \n\nThis whole transaction should have cost you $1 out of your pocket and no credit. Do a search on "assignable purchase option contracts" for more info on how that works and you can download a purchase option contract form for free (you just have to make it assignable) from http://www.firsttuesday.us/Downloads/form161.pdf . To make this contract assignable, you should add an assignable clause and put the following words after your name "and/or assigns".\n\nOne word of caution, check your state laws to see what legal forms you might need to purchase property from people who are in foreclosure and have equity. For example, we have a form in California we have to give or we can be sued. \n\nAlso, in number 2, if the property has no equity, you still can work out a deal, but that will require cash money (called a "short sale"). You can sell your leads of no equity to investors as well. They usually pay anywhere from $250 to $1000 per lead. \n\nGood luck. Investing is a great job because you get paid to help other people.
645136
Borrow from friends and family if you have no credit.  Some finance companies might lend you the money, but at a high interest rate.
1091891
Reality check. You can't.\n\nYou need access to funds, either your own or the bank or hard money lenders. Houses cost money.\n\nYour only other option is to swing some owner financing deal, where the owner is essentially your lender.