How can I get a loan to purchase real estate without any or little credit and no money down?

bob: How can I get a loan to purchase real estate without any or little credit and no money down?
I do not a have a job, but I will be buying properties cheaply, so I will sell them quickly and for a profit. From that profit, I will pay for the loan. Do you know of any way to obtain a loan with those circumstances?

Answers and Views:

Answer by N K
Get a loan from the 3Fs. friends, family and fools 🙂

If it was that easy to get a loan, more ppl would have loans

Answer by rtfm
The days when you could get money to do something like this are long gone, if indeed they ever existed. Haven’t you been reading about the current mortgage crisis? These days, you need a decent credit record and preferably a good size down payment as well before you can qualify for a mortgage.

Without a job — just forget it. There’s not a chance in the world.

Answer by Beverly S
There is no loans out there if you don’t work. What you are wanting to do is to flip property. New mortgage guidelines are requiring that you own the home for 6-12 months before you can sell it for a substantially higher price. There are also no 100% loans anymore, except for VA.
2 years ago you could have done this- but it would have been a sub-prime loan unless you could prove 2 years job history & income. Those days are gone now- & that’s probably a good thing.

Answer by src50
You’re not getting a loan without income.