can i buy investment properties no cash no credit?

Is anyone familiar with bob diamonds course where i can buy investment properties with no cash or credit? and what forms are necessary and where do i purchase them from. has anyone used this system yet?

I’m not familiar with his course or any other course, but good luck pulling this off. This was possible during the boom years, but those times are gone. My recent personal experience is that any bank even willing to finance an investment property is going to want 15-30% down.
Now you can still try to get seller financing or something like that to get a sweet deal, but why would I as a seller want to give someone control of my property if they had no credit (or bad credit) and nothing down?
If that course was complete, the forms you need to replicate what he’s “teaching” you would be included in the cost of the course (or very specific instructions on where to find the forms for where you’re buying property).
I’ve got several posts on here about how I bought with no money down, but it took great credit and experience with managing other properties. You don’t just get there starting out.

Impossible, your wasting your time and money on any book or person that tells you differently.

Why would you buy any course when you have this forum that can and will teach you everything you need to know for free? About the only thing I have had to learn on my own that this forum couldn’t do is state laws unique to my state. Everything else is here…for free!

The dictionary definition of Invest - to commit (money) in order to earn a financial return. If you don’t have money or credit to get money you don’t have anything to commit so you are not investing. You are doing something but you re not investing.

As with all investments if you don’t have money you are into subsistence living and in no position to invest. You need to get some distance between you and the wolf at the door before you start looking at investments.

You can probably buy a lot of severely upside down houses subject-to. There have to be a lot of people out there who owe $200k on a house now worth $80k who would love to have anyone take over their responsibility for paying the mortgage.

The only problem is that they are pretty badly upside down, so I don’t know what you would do with them. You can’t sell them for what you’ve paid, let alone a profit. Other landlords are now buying houses for much less than you paid, so they can undercut you on rent and you are unlikely to get enough rent to cover your new mortgage payment.

All this stuff sounds great in a book or DVD for people hoping to become millionaires, but could barely afford the $49.95 to purchase the book. If it were that simple, everyone would be doing it.
John is right. You’ll have to find out about your local laws, but everything else you need to know should be right here in the forums. If you don’t see the answer to your question in an old post, ask away.

I’ve been around this block since I was eight. I’m now 52. I’ve got a large library of books authored by gurus that promised me the world and only delivered a rock or two. Well, after collecting a couple hundred rocks, I found clues on how to buy without credit or cash. The secret is offering solutions to seller’s problems. It’s as old as Moses. Of course it takes more than just a solution. It also requires trust.

This brings me to seller financing.

I would suggest you find ONE problem you can solve involving real estate. The more problems you can solve, the faster you’re roller coaster will go.

Let me illustrate a classic no down, no credit deal. Before I do, “no down” doesn’t mean “no money.” It means NONE OF YOUR MONEY!

Let me give you a real example of this.

I found a seller of a freshly repossessed apartment building. The seller wanted 30% down and 7% interest or $2,500/mo. This meant the loan was amortized over just seven years! I agreed to his terms. However, I had no credit, and zero cash for this deal, but the price was a steal, so I agreed to the terrible terms and started scrambling to pull money out of a hat …someplace.

Meantime, the seller never asked me to prove my funds or look at my credit. Why?

Because I was solving the seller’s problem(s). He had a terrible vacancy problem; no performance history; no ability to borrow against the project; negative cash flow; needed to baby-sit (manage) the project for several months, which he could not do, because …(drum roll please…) he was 85 years old and required a walker to get around!

I eventually found a partner with the down payment I needed, and closed on the property. Otherwise, I had zero cash or credit on the line with this deal. The price was so low that I could have waved a sign on the corner and found a money-partner.

36 months later I made $250,000. Meantime, I realized about $2,000/mo cash flow after we got the building filled up. Was it hard work? Yes. Was it worth it? Yes. Had I ever owned apartments before this? No. Did I do it again? You betcha! It got easier and even more profitable, too.

The second time, I still didn’t need any credit, and I had a gob of cash to work with, BUT I didn’t give any to the seller. He just wanted OUT yesterday, and was completely incompetent at management and was going to either lose his shirt, or sell to me, without knowing if I could borrow a toothbrush or not. It was a beautiful thing. Yes, he did know that I owned other apartments. That was helpful…but not a deal breaker. I got to the deal first, like I got to the other deals first.

So, I encourage you to remain in an empowering state and look for problems to solve (the bigger, the more profitable) and you’ll get exactly what you want and need, and more.

I’m buying $500,000 houses, sometimes for the cost of a Pizza as a down payment, and seller financing them for thirty or forty thousand down, and nobody has checked my credit in seven years on deals like this. Why can’t you?


Great post! Others have said it before, and you said it well: SOLVE THE SELLER’S PROBLEM.

This means dealing direct with sellers, usually not through a Realtor because these deals don’t figure on commission getting paid.

Please keep posting. We need more inspiration from someone who is making deals that work.



Thank you for the compliment. I’m not sure I answered plp’s post, but at least I could show that ‘no down’ and ‘no credit’ was a profitable and “possible” objective. :biggrin