Can't find 100% financing

YOU ARE GONNA HAVE TO FIND GOOD DEALS THAT YOU CAN START AND/OR ASSIGN AND MAKE MONEY THAT WAY AND THAT WILL SHOW THE BANK THAT YOU ARE INCREASING YOUR INCOME AND YOU ARE SELF EMPLOYED. YOU HAVE TIME AND FUNDS TO DO IT. THATS GREAT.
THE BANKS WILL LOOK AT YOU THEN

I wish i was in your shoes. I'm talking in terms of 200k home loan paid in full, no car payments with no debt whatsoever and 30k in the bank and with credit score of 710. I can't believe the bank won't even give you a loan. I know the umemployment thing makes a little tough, but with 200k equity on your home with no debt should be more than enough.

I suggest you get a equity loan and use that as a stepping stone of your new real estate career. You have 200k equity on your house. You can get an equity home loan for 100k and starting your new investing career. I would not use all in one property, but use laverage and get as many properties as you can. If not, then you might have to take jmarie advise and find properties to assign and hopefully that will give you another vehicle to find success in real estate. Good luck and happy investing!

LL

Welcome to the DG family/forum as I call it. So glad you could join us!! Well, you're in a great position as far as finances goes, some of us aren't even in that good of a position right now. The key is to know how to do rei deals without using your own money or credit. This is far less risky, actually a great way to build an empire and how many investors started out. So read Dean's book, if you already haven't that is. Get as much knowledge as possible, do your homework, so you know what a good deal is and how to assign it to another investor/buyer. Then you will have the key to the gold treasure!
God bless you,

have you tried HARD MONEY yet?, hyperly, that just might be your answer, if the deals good enough, that might work

Hi Sully it's nice to meet you! I'm new and have read through several posts and chosen you as my favorite. I took your advice to someone else regarding writing notes down. Actually, I've copied and pasted the things you have said to others on a "notes document" I've started. But my question to you is "What is hard money"? Look forward to chatting with you again.
Your friend from California

HARD MONEY LENDER: is a type of asset based lender thats lends money based on how good of a deal that you have, secured by the property that your rehabbing, most will lend anywhere from 65%-75% of ARV(after repair value), so in essence you could get 100% financing, but you would have to be getting the property for dirt cheap, oh and thier interest rates are sky high, usually 15%-18% for a typical 12-18 month loan, it's recommended to ONLY use HARD MONEY for FLIPS, and around 50%-60% of HML DO NOT have credit requirments, yay! CLASS DISMISSED.

To add to that, in this economy, the lending practices are stricter than ever. Hard money is an alternative to conventional financing for the short term investments. If you hold a loan with them, the interest will eat you alive over time. Should you buy a property with Hard Money and decide to hold the property long term, you can have the loan refinanced once the title is in your name.

I'm in a similar boat, needing 100% but lenders requiring 10% down. Any suggestions where to get the 10%. Seller can't hold it, family unable to loan. Suggestions or other creative means anyone has used for a 1st deal?

If the 10% isn't that much you could get a "PERSONAL LOAN" through your bank?, obviously the interest rate would be higher but, it's an option.