o you have poor or no and these requirements basically
credit? Have you been require the seller to own the
turned down for a real property at least six months
estate loan? Are you interested before the sale. This is not a
in real estate investing but law, however, and many lenders do
don't have the credit score or not have these requirements.
the cash that lenders require? If There is nothing illegal about
you have one of these problems finding a buyer for real estate
then real estate investing is and then finding real estate for
still possible, but you may have sale that meets the needs of the
to be a little creative. There buyer. This is usually done with
are several ways that you can the purchasing funds being put
invest in real estate without into escrow. The real estate
having to use your credit score investor profits to the amount of
or cash. the price difference in the
selling price and the purchasing
One of these ways is to find a price without ever using any of
partner who will meet the lending their own funds, and there are no
requirements. This could be checks on the investor's credit.
someone who has the credit score
or the down payment that you Subprime financing is another
require. It may be as simple as method available to real estate
having a cosigner for a loan. investors whose credit scores are
Another way is to flip a house not high enough or who may not
using a double closing. This have the required down payment.
method is usually not preferred There are national lending
by lenders, and some will not companies who normally will
even consider a loan if there is provide a loan for up to seventy
a double closing. Some lenders percent of the value of the
also have seasoning requirements, property without verifying a down
payment or needing high credit the price difference between the
scores. The interest rates on buying price and the selling
these loans may be a little price.
higher because of the risks
involved for the lender. No matter which method you use to
invest in real estate with no
A lease option is another great credit checks or money down, it
way to invest in real estate no is possible to invest in real
matter what your finances or estate with these issues.. Don't
credit score are. This involves let these two things stop you
finding real estate for sale and from your investment potential.
then having the owner sign a You simply need to be a little
lease stating all the relevant more creative to find a solution
facts. The lease should specify to your investing obstacles.
that you have the right to
purchase the specific property Copyright © 2007 Joel Teo. All
for the intended length of time rights reserved. (You may publish
for the specified amount. You this article in its entirety with
then go out and find a buyer for the following author's
the property within the lease information with live links
time frame. None of the money is only.)
from your pocket and your credit
is never even checked. You make
About the Author:
Joel Teo writes on various financial topics including Las Vegas Real Estate . Learn about Las Vegas Real Estate Investment at http://www.RealEstateInvestment101.info
Read more articles by:
Joel Teo
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