10 years. Forget it, you can’t do it. You will never do it. You do not have the ability.
OK now, prove me wrong and do something today to start on the road to home ownership.
Find someone who desperately wants out of their home. Buy it on a rent to own until you can get financing, a year or so). Make sure someone who is knowledgable in loans and financing looks at the deal to make sure you don’t get into a ripoff deal.
You really can do it if you make a descision to actually do something, today.
Let me start by saying I love this site! Anyway, I have been investing in courses in real estate for almost 10 years and needless to say I haven’t made a move yet. I know its fear. My credit is not good, (thats where the interest of creative investing come from) I have no savings, pretty much struggling, but I manage to pay high rent every month without fail. I’m soo tired of this. I want to own my own home. Is this at all possible! I would like for my first investment to be for myself and my kids. My dream a single family home where my rent is my mortgage, not someone elses profit. Please tell me where should I start? What should I do? Is this really possible?
Re: Help I want to Own My own home!! - Posted by Jorge Carrejo
Posted by Jorge Carrejo on July 03, 2005 at 24:49:23:
We can all help you get a home. And since you have been researching this for 10 yrs, you have been told that you should work on your credit. I will reiterate what you already know…WORK ON YOUR CREDIT. go to www.creditnet.com or other similiar sites and get educated on credit.
Then do something to make more money. Get online and do some affiliate programs like giving out satelites for dishnetwork.
Get with a financial advisor and get advice on how to manage your money.
Let me know if I can help with any of those things.
Jorge Carrejo
Sure it is possible! I do 100% financing deals all of the time. If you happen to fit a workable profile, you don’t even have to be all that creative in your purchase. I would have to know a bit more information to give you a good indication, try to email me the following info:
What state are you in, as I am licensed in only 29.
Do you know what your credit score is (the middle FICO score), let me know if you do.
Are you working? Are you a W-2 Employee, or self employed. WHat do you do, and how much are you earning.
What is the rent you are paying now, and can you evidence your payment history with cancelled checks?
How much are homes going for in your area, that you feel you might be interested in?
OK, start with that and email me, and I’ll let you know what I can do.
10 years? Don’t you think you are rushing things?
I look at it like this, if someone says they are cold but refuse to put on a sweater, then they are not really cold.
Just pull the trigger already because in 10 more years, you will be 10 years older except the homes will cost much more.
There is no shame NOR dishonor is saying that you really do not wish to do it. It could be the truth.
What state do you live in ? how is the market out there?? You might want to try FHA or something. THe 3% downpayment can be a gift. And have seller contribute to the closing costs. Do you know your credit score.
i bought my first home with rural devlopment try there if you have any such thing i even got back 100 bucks back at closing and none of my money in the deal. by the way my fico score when i did it was 550. with my income i was able to get a 70k house and only have to pay 348 a month at 6 % intrest rate. not creative but it works