A credit score of 590 is only considered “fair” which doesn’t give many benefits and it’s seen as extremely difficult to start flipping properties with it. However, nowadays, more help and tools are out there for people to take advantage of to help their financial situation. You can even look for credit cards for no credit which can help lots of people. So, how did I do it?

Flipping homes started when I was 21 and it was not planned. My background before becoming an entrepreneur started in the banking industry. Every first of the month I would get to work and get a money order to pay my rent and my manager would ask me “when do you plan to own a home?” It was never in my plans because I didn’t think a person like me could, my manager broke down the difference of owning and renting and I knew then I had to own.

As soon as my apartment lease was up, I was out! I found a realtor, and he helped me through the entire process of buying a home. At that time I was making $12 a hour at $20k a year and I purchased my first home through the bank with a 590 credit score which qualified me for a 63,000.00 house loan limit. Long story short, I lived in that home for 2 years, rented it out for 3 years at $850 a month. The mortgage was only $516 so I was able to make a small profit monthly. Then I sold it making a profit of 17k.

This is when my life got interesting, being 25years old and having 17k was ALOT of money to me, I was never from a wealthy family, or very nice neighborhoods so that was enough money to get me started in anything I wanted. This is when I researched Real Estate and got into the business heavy. I was taking classes, going to seminars, meetups, one on ones with mentors – I wanted to make another 17K quick!

By the time I turned 26 I was a licensed realtor, purchased my second home, working on the side for a private landlord and just gaining knowledge about real estate.

Fast forward to today, I have purchased properties and land, purchased a condo with the funds from a previous home, and have helped over 70plus young adults under the age of 30 own their first home. I specialize in investing with creative funding, whether it be by credit, refinancing or using an equity line of credit. There are plenty of ways to invest in real estate the main goal is to start!

I created Females Who Flip because I needed the platform when I started out but couldn’t find the resources or tools. Here I plan to teach and inspire you to get into Real Estate, it’s not the easiest job, but it’s very well worth it.

There are a few ways to get into real estate with little to no money or a not so perfect credit score. Creative funding is key to understanding real estate. You also need to check out home insurance and see how that fits in with your properties and the contents of it. Wherever you are based in the states you will find an insurance company that you can discuss this with, such as simply insurance california, this is a place to start at if you live there and are thinking of getting into the real estate business and want all your bases covered.

Book a discovery call to chat, answer questions and have a one on one about real estate on my website! I hope this read inspires you. Always here to help!

xoxo @femaleswhoflip

Charmaine, Creator of Females Who Flip

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