
looking at a credit report
The key is other people money
What that means is using credit card
Bank loans
And seller financing
All of those ways are key to not using your own money
If you have credit you can get credit cards and pull cash or charge the card
If you have credit and job history you can go in the bank and get a loan or line of credit and use that
The seller of the property can loan you some of the down-payment for a certain amount of time like 2 or 3 years then you go in the bank and refinance the loan
To get a loan for $529,000 I needed about $100,000 I got a line of credit for my business for 15000
I used a 5000 credit card
And the seller let me owe him 80000 for 2 years until I could refinance the loan this is how I bought 11 houses wit no money out my pocket
This is the exact contract me and my landlord signed for me to buy that duplex ,he gave me 3 years to go into a bank and get it refinanced ,over the 3 years I built my credit and worked at the same job .
When I went to the bank I showed receipts that I had already gave him the 10% down-payment.
I got a fha loan which only requires 3.5% down so the rest of the money went towards closing cost .
Seller financing is a good way to delay until you get your stuff together
I made a mistake of putting the contract in my business name the bank wouldn't lend to my business because I didn't have tax returns for the business yet so my landlord helped me and resigned the contract in my name and we closed the deal
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