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geckofreako
09-04-2007, 12:58 PM
...house without having money?

krennao
09-05-2007, 08:18 AM
How do you plan on buying a house if you don't have money? There are closing costs. etc all types of fees, if you have no credit, you can't get it. Most houses need a down payment. Start saving now. Get your credit up to par.

bonstermonster20
09-06-2007, 04:48 AM
Yes it is possible, and in some cases you can qualify for a first time home buyer's loan and get excellent rates. If you are looking to invest in properties, try first buying a duplex where you can live in one half and rent out the other. You will be building equity while someone else is paying your bill. Before long you will have it paid off and can rent out both sides and can acquire other properties. Good luck!

doom98999
09-06-2007, 06:13 PM
nop, even with good credit , they are making income checking, so you can't just say that you make a lot of money, and if you have good credit but no money you will end up with a foreclorure in your credit score and no home

glitter4u2004
09-06-2007, 08:01 PM
Most people do not know how to answer this question if they are not an investor themselves. It is VERY possible to do what you are planning!!! I am really proud of you at 20 to have this goal in mind! I wish I started investing at your age, I would be a millionaire by now!! haha..Email me and I can guide you on everything I have done to become an investor. You dont need credit, you dont need a license starting out.......eventually you should get a business license, but if you are serious let me know and I will help you get started! Anything is possible if you set your mind to it and you are determined with your goal. It is such a sad world that everyone is so apt to just saying NO it cant be done! If everyone believed that, we wouldn't be where we are now with all our technology and knowledge. Remember knowledge is power, the more you learn-the better you will be at it!God Bless!Michele

go_lc_bears
09-06-2007, 09:30 PM
It is possible with good credit and a decent income/expense ratio.I highly advise the duplex idea previously mentioned. I bought my first duplex at 20, and it gave me a free place to live for 2 years.There are no-doc mortgages that only require your statement of how much income you make. I've had to use these since I purchase buildings so frequently, I've never had 2 years of tax returns showing my current income. Even without the two things I mentioned, it may be possible to buy the home using someone else's credit or money. (Parents? Student loans?)Good luck to you. Feel free to email me any questions.

Michael Ervin
09-06-2007, 10:52 PM
If you are looking for a fixer-upper or a fast turn-around.. then you would be interested in getting something like a 90 day bank note. After 90 days the note would have to be paid in full. Hopefully, you would have sold the house by then.