I'm trying to get into property investment......help?

ia m trying to get into property investment,i have about 40 k to invest with ,cant get a mortgage cos of my credit rating and status.my plan is to buy,refurb and resell and hence build a property portfolio.any help into any other means as its my dream

Don't do it. Invest in the stock market. Property investments have gone down and the housing market is a buyer's market right now. There's waaaay too much inventory and not enough buyers. The price of housing is coming down too, so even if you buy something, you may not even be able to sell it at what you bought it for. It's a bad investment all around.

If you have $40K to invest, your credit should be better.

Real estate investing is a business, and every penny matters. So start getting your credit fixed up in the meanwhile.

And, if you buy, refurb and resell, you will not be building a portfolio. You'd have to skip the resell part of that process.

And get out and meet with lots of realtors, ones who are doing this already and have experience in identifying properties like this.

Rich Dad/ Poor Dad. Take with a grain of salt but it might give you a different way of looking at it.

You own your own home? Start small, fix it up and sell it. If you do that every 2 years you won't have to pay taxes. And for god sakes pay everything on time and get your credit up.

if you can find a descent foreclosed house and really build up some good sweat equity then it doesn't matter what kind of market it is you will have more equity then the average Joe and when it comes to selling you have more flexibility on your bottom line .... so you just need to find the right kind of property that's what property investing is about ....

Look into improving your credit. There are ways of getting your score up by paying down some debts and there is something called 鈥渞apid rescore鈥?to help as well. Before you do anything, speak with a mortgage broker to see how much you might have to put down.

There is something out there called hard money where the lender will give you 70% of the value without seeing your credit but charge high rates. I do these loans when someone finds a steal of a property. Meaning, you get a home under contract for $100k that is worth $180k. You can get the full 100k plus closing costs and maybe some money to repair as long as it stays below 70% loan to value. Your rates will be high (12-15%) but it should be short term. I know people that make a living off using hard money, buying, repairing, and flipping homes.

BEWARE: it is a slow market if you are going to sell but you sure could steal some homes for cheap nowadays.

Tis the season to invest in foreclosures buddy.

With 40k you can probably get one without financing -- shoot you can even get one at acution because you have the money down.

Here's a good site to start your search.

http://www.foreclosure.com