How to get rental houses with bad credit?
Did you know that you do not need good credit or W-2 or a good job or any of that jazz to
become a self-employed real estate entrepreneur with over 40 properties making a ton of money?
Yeah.
It's true.
Because that's what I did.
And I'm going to show you exactly how you can do it too.
Let's go.
I'm going to share with you a detailed step-by-step process on how to get rental houses with bad
credit even the worst credit imaginable.
I'm going to share with you a simple and easy 3-step process to finding desperate sellers
who are looking for your help and want to sell a house to anyone with any type of credit.
And last but not least, I'm going to share with you my biggest secret on how to get funded
with any credit score.
There are so many benefits to being a real estate entrepreneur.
But one of the biggest and best benefits is rental properties.
I'm Noelle Randall.
I'm a real estate entrepreneur a millionaire, a mentor, and a mom of 5.
And at one point, I had over 40 rental properties.
And it allowed me to quit my 6-figure job.
It was one of the best decisions that I ever made was to become a real estate entrepreneur
and start getting rental properties so that I had passive income.
I got started in real estate in a very terrible way but I really turned things around.
And my rental properties has provided me so many benefits.
I'm able to have properties that bring me cash flow.
Monthly income every single month for my tenants.
I have both long-term and short-term rental properties.
Meaning, I rent out some of my properties empty and vacant and people furnish them.
And some of my properties I rent out fully furnished.
And even some of them, I furnish and put the towels, the plates, and everything.
And we put them on Airbnb and make them into short-term rentals.
So, again, different ways to use rental properties to create income.
Another awesome thing that rental properties did for me is it increased my personal wealth.
So, once I had amassed lots of rental properties even actually just a few, my personal wealth
was over a million dollars and I was officially a millionaire with just a few properties.
This opened up the door where I could borrow money against my properties.
And get even more properties I was able to sell off my properties and walk away with
large lump sums of cash.
In some cases, I walked away with hundreds of thousands of dollars on properties I just
owned for a couple of years.
So, doesn't necessarily take a long time to amass a lot of money with rental properties.
Real estate is still the number 1 way to wealth and it has been the way that I have financially
freed myself and others have done the same.
Rental property has provided so many benefits for me, my students, and other people that
I think that real estate is an absolutely amazing thing.
I know that people cannot live in their cell phone or their laptop.
And technology is not going to replace real estate.
So, these are the reasons why I invest in real estate and why you should too.
But like I said, I started with some of the worst credit ever.
Let me tell you how I did it so you can do it too.
In real estate, one of the things that you should focus on if you want to start getting
rental properties even with bad credit is focusing on people that have property problems.
It is so important to find people that are in some type of financial distress or some
type of distress in the home where they no longer want it.
This will open up the doors for you to get those properties at a discount for pennies
on the dollar in some cases without ever using any bank or anything like that.
So, let's talk about what a property problem is.
When I started investing in real estate, I was a complete disaster.
I ended up losing everything and had to move back to my parents' basement.
But when I was in my parents' basement, my mentor and coach, he taught me about finding
people with property problems.
Like I said, I had lost everything.
And I had been in foreclosure.
So, he told me find people that are behind on their mortgage payments.
People that are in financial distress.
And those are the best people.
Because you will be able to talk to those people and then we can take those contracts
and do different things with investors.
I didn't necessarily think that I understood.
I just kind of went forward.
And it was the best decision that I ever made.
I had been through foreclosure.
The sheriff had come to my house and thrown all of my stuff out.
I had terrible credit.
I had public records.
I had to file bankruptcy.
My credit in life was ruined over foreclosures.
But when I was able to talk to people before the foreclosure happened while they were just
still behind on their mortgage payments, I was able to connect them to my group of real
estate investors and they would buy those houses and the person would never even have
to go through foreclosure.
I was really helping people and those people were avoiding that awful thing that I had
went through.
So, the key to it is finding people that are behind on their mortgage payments, in bankruptcy,
in divorce, in probate.
Meaning, they inherited a house that they may or may not want.
Or even people that are sick and may need to be moved to convalescent homes or assisted
living.
These are all different types of property problems that you can solve.
And this will be the key to getting rental properties even with bad credit.
Let me tell you the next step.
So, like I said, I started in a very, very terrible way in real estate.
I literally started in 2002-2003.
I was living in Atlanta and I was flipping houses with a full-time job.
Well, I was making money and it was kind of working out okay until 2008 hit.
Once the financial crash happened in 2008 and 2009, I ended up losing everything.
I lost my job, we ended up losing all of our properties, I even lost the home that I was
living in and had to move back to Connecticut and live in my parents' basement with my 2
almost 3 kids because I was pregnant when I moved back in there.
It was a disaster.
But like I said, the story ends well.
I learned what had happened to me and how I could help other people avoid foreclosure.
So, eventually, I started doing this thing called wholesaling where I would find these
people that were behind on their mortgage payments.
You know, I call them up say, "Hi, I'm Noelle with ABC properties and I'm connected to a
group of cash investors and we want to help you avoid foreclosure."
Or something like that.
I don't have this exact script in front of me.
But it is very similar to that.
And many people were so happy to hear from me.
Now, again, I'm not going to say everyone you call is going to be happy.
But many people would see my signs, get my letters, call me and they were very happy
to avoid foreclosure.
Well, eventually, I was wholesaling those deals.
I would get them under contract.
I would flip those contract to my network of investors for $5,000 minimum because that's
just what I knew.
And so, I started making an extra 60-70 thousand dollars a year on the side just by flipping
these contracts which is called wholesaling.
Now, if you don't know what wholesaling is and you want to learn about it, I have an
entire playlist absolutely free on YouTube teaching you this.
Just go to my real estate investing playlist on YouTube and I teach you this absolutely
free even give you some of the contracts that you will need, okay?
So, once I started doing wholesaling...
You know, flipping the contracts for $5,000, then I started fixing and flipping again the
right way because now I knew how to find properties at a discount and then I could fix them at
a discount and sell them at a big profit then eventually, I started getting rental properties.
This is a thing called deal compounding where you start with wholesaling, then you go to
fix and flips, then you do rental properties.
And essentially, you're just reinvesting as you grow.
And so, this is an amazing way for people to start in real estate the same way that
I did with bad credit and no money.
I just needed a little bit of money to put out my signs and my letters.
So, it didn't cost me very much to start making money.
And then like I said, I started making $5,000 per deal.
Got out of my parents' basement and I changed my life.
Now, today, I am a multi-millionaire.
I have lots of rental properties and I make lots of money in real estate and I've been
able to create other streams of income from real estate.
But like I said, I started with bad credit and no money.
And you can do the exact same thing.
So, if you want rental properties, let me tell you how you start.
So, if you are looking to jump right into rental properties and you have bad credit,
okay?
You don't want to do the whole ceiling or the fix and flip thing that Noelle did and
you just want to go directly to rental properties, you will follow a simple 3-step process that
I call MCS.
Noelle's MCS which stands for market, convert, solve.
Meaning, you will market.
You will put out signs and letters or whatever to find people that are behind on their mortgage
payments.
Again, I have an entire playlist teaching you this.
So, if you need a breakdown, it's on my YouTube absolutely free.
The second part though is C, convert.
Meaning you will talk to people, get them on the phone and get them under contract.
And then the third step is solve.
That is where you decide what it is that you're going to do with that property.
So, if you want to keep it as a rental property, you would just write the contract subject
to.
Meaning, you will leave that existing financing in place.
You will do what we call TOPS --taking over payments system, where we don't get an assumable
mortgage, we don't assume the mortgage but we do take over the payments.
It's an entire concept in real estate called subject to.
And again, I have an entire video teaching you how to do this with the by step.
But this is the simple way to start getting properties without having to involve banks,
without having to have your credit pulled, without having to show your income, without
having to do any of that jazz.
Basically, if you can show the seller who is behind on their mortgage payments that
you can take over their mortgage payments, in most cases, they will go ahead and do the
deal with you.
It's so simple and so easy and this is the way I was able to get rental properties even
with bad credit.
So, another option and the third step which is solve is of course you can do subject to
which I just mentioned earlier.
But the second one is you could do a lease option.
Meaning, you could just lease the property with the option to purchase it later.
For example, if the person is behind on their mortgage payments, maybe they're three or
four months behind, that could essentially be the security deposit that you pay directly
to the mortgage payment to catch the mortgage up and then your rental payments are the mortgage.
And then if you want to keep the property and make it into a rental property, you can
negotiate a buyout a purchase price and you can do what we call a lease option.
Now again, I don't mean to sound redundant I have an entire playlist teaching you this
on YouTube so make sure you check out that playlist.
But just giving you all of the options on how I was able to and how many of my students
have been able to get rental properties with bad credit.
So, I have written an entire book where I'm teaching you all of this and is super affordable.
My new book Real Estate Millionaire Secrets is absolutely free if you go to this website.
You just cover the shipping and the handling.
Go to noellesfreebook.com.
That's Noelle (N-O-E-L-L-E e with an S).
Noellesfreebook.com.
And check out my new book Real Estate Millionaire Secrets where I break down exactly how to
go to zero to real estate millionaire as a complete beginner.
It is the real beginner's guide to real estate investing.
And I show you how I did it with bad credit and no money and more importantly how you
can do it too.
I just want to make sure that you have all of the resources, all of the tools, and all
of the knowledge that you need to be successful.
This is Noelle.
To your success.