I'm new here, and very anxious. I've been reading Dean's books and very excited about investing in RE. Hopefully i'll be running into money in March, and I will get to work. I'm just confused w/ the no money down strategy in the book. In order to go into contract w/ a seller (to quickly sell it again) don't you have to be pre-qualified for a loan at the bank? My credit isn't great, and needs some work, which I'm currently working on. If I have to be pre qualified for a loan, then I'm screwed. Also, I would pretty much have to find a buyer before I could even try this strategy. And then what happens if that person doesn't qualify for a loan(As we all know. It's hard to get a loan these days). I still have a lot of reading to do, but I had to ask that question....it's been bothering me all morning. Thanks.
I'm new here, and very anxious. I've been reading Dean's books and very excited about investing in RE. Hopefully i'll be running into money in March, and I will get to work. I'm just confused w/ the no money down strategy in the book. In order to go into contract w/ a seller (to quickly sell it again) don't you have to be pre-qualified for a loan at the bank? My credit isn't great, and needs some work, which I'm currently working on. If I have to be pre qualified for a loan, then I'm screwed. Also, I would pretty much have to find a buyer before I could even try this strategy. And then what happens if that person doesn't qualify for a loan(As we all know. It's hard to get a loan these days). I still have a lot of reading to do, but I had to ask that question....it's been bothering me all morning. Thanks.
Thanks,
Mike
You can either look for opportunities or make them.
http://www.deangraziosi.com/real-estate-forums/investing-journals/75933/...
http://www.maxwellpropertysolutions.com/