I am sure you have seen the infomercials a hundred times. Here are a few facts: Is it possible to buy real estate with no money down? Absolutely, it is done all the time!
Is it easy? No, it takes education and training that will not come overnight simply by reading a book. Is it possible to buy real estate without any money at all? No, not unless someone literally gives you the property.
The point is it takes money to buy real estate, but it does not have to be your money. At some point in your career you will need access to financing. You may need it to quickly fund a great opportunity. You may need it to make some unforeseen repairs. There are literally hundreds of scenarios that will require you to come up with financing. There are hundreds of ways to fund a real estate deal and obtain financing.
Good credit is not a requirement to buy real estate creatively, but it can not hurt. It will certainly open up a few more options and put more resources at your fingertips.
If your credit is less than perfect you should work to improve it. Get your credit report and make sure everything is correct. Believe it or not creditors can make mistakes.
If you find mistakes follow the procedures to dispute and have them corrected and removed from your file. Creditors have 30 days to respond to your dispute. For those negative items that are legitimate you will have to work with the creditor to fix it. Try to negotiate a short sale!
