Joining me today is my mentor Dr. Marijo Wilson, and in this video we will be sharing some ways that you can get started investing in real estate that don’t require any credit!
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Hi, I’m Chimene Van Gundy, bestselling author and mobile home millionaire and in today’s video we’re going to talk about how to start investing in real estate with no credit. Joining me today for this video is my mentor, Dr Marijo Wilson. She’s actually been a mentor and trainer internationally and state side for about 15 years, and she’s a phenomenal woman. So one of the things we always talk about is wholesale. Yes, you’re a transactional engineer. You’re looking for sellers who are motivated, they want to get out of a property, and then we’re looking for our buyers list and we’re going to put those two together through our new last name and or signs, and we’re going to be able to make money through that. We don’t have anybody checking our credit, so we need no money, no credit to do a wholesale deal. What about the next idea? The next one is actually being a broker or brokering things like notes being not transactional engineer. So you actually find somebody who has some notes and wants to sell them and get out of those notes and somebody who wants to buy notes, right? And you put the, you put the deal together and then you’re making that money in between. That takes no credit either. And what’s the next one? Well, the other thing is, remember in one of the videos we talked about hard money, private money. So with hard money, of course you’re gonna pay points and you’re going to pay a higher interest rate. But if you can’t do the deal, you just run the numbers to make sure that the numbers work and you can get your max or you can get your return on investment that you’re looking for. And then don’t worry about the other person making some money. They’re going to charge you points in interest, but it’s okay because now you can do the deal. They’re not going to check your credit a lot of times. And so using private money or hard money, you can also do real estate with no credit. And the next one would be lease options. You actually can lease out a house yourself from somebody and do a lease option with them, get it at a really good til and then turn around and be able to, as, as long as it’s in the contracts that you can sublease it, sub, lease that house for a little bit more and make some income there as well. So lease options is another way that you can be very creative and you can get into real estate with no credit. What’s the next one, Marijo? You know what I just thought about this is a strategy that a lot of people are using now. They go and lease a house. It’s not even their property. And then they Airbnb it out by the night, so they make a lot more returns. I ran into a guy who was, who had an apartment in La, close to Disney, Disney World or Disneyland, and then he had another place by the strip in Vegas and he had two places and his Airbnb rentals, uh, every night paid for both apartments. So he had no cost of living when he was in one place. He just didn’t airbnb it out. So that’s another great way that you can do that is Airbnb. That’s amazing. Then there’s one called subject two. So what you do is you actually buy the real estate subject to the financing that the other person put into place. So you just leave it in place. Now of course there is a due on sale clause, so you have to know how to use trust and properly set that up.
But you can actually do subject two deals without any of your own money or any credit. That’s amazing. And the next one that I love, if mobile homes, you often can find mobile homes and you don’t have to use any credit of your own. This is particularly interesting because if you know how to work your market and you make those relationships with dealers and dealers are people who sell brand new mobile homes, you can make relationships with those dealers. And what people don’t know is for every new mobile home that’s sold, one mobile home, an old one has to be gotten rid of. So a lot of times they just want those mobile homes off of their property. So you actually can be given free mobile homes without them checking your money or credit. And that’s another strategy to use. And another one would be land land is another one where you don’t need any credit to get started because there’s no hard asset on the property.
You really don’t need any credit to get started in land as well. And Mary Jo, what’s the last one? Well, one of the things that you can keep in mind is just like we go to a bank or we get go to private money or hard money for money sources. If we have no credit, we can actually find somebody who might have great credit, but they don’t have money, but they’re willing to use their credit, their credit scores for us to be able to qualify for that loan. So we could actually find credit partners and use other people’s credit to be able to do our real estate deal. That’s amazing. That is leveraging at it’s fast and we hope that these tips from us help you learn how to start investing in real estate with no credit and we’ll see you again on the next video.
If you love this video, I would like to invite you to my free webinar where I’m going to teach you why mobile homes are little boxes that spit out cash, how you don’t need to be a licensed real estate agent or be a real estate expert at all, and how I get 25 to 30 mobile homes every month for free and how you can too. If you love this video, please don’t forget to like comment, share and subscribe.
After watching this video , click here to register for the upcoming webinar that I’m hosting about How To Buy & Sell Mobile Homes With Nothing Down… Whether You’re Just Starting Out Or Are A Seasoned Expert!
You’ll also discover:
- Why Mobile Homes are little boxes that are easy to overlook… yet massively profitable!
How To Become A Real Estate Expert With NO Previous Real Estate Experience
I’ll Share Exactly How I Acquire 25-30 Mobile Homes Every Month with Nothing Out of Pocket