Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term.

And now here's your host, Marco Santorelli.

Welcome back to another episode of Ask Marco,

where I answer your investing related questions.

Today's question comes from Aaron and he asks,

hi Marco I'm a big fan of your podcast and I've been doing my due diligence and

research on real estate investing for a couple of months now. I really want to be a

real estate investor but my financial and credit

situation is not good. Can I still be a real estate investor with low income and poor credit?

Interesting question Aaron. Short answer, no, but don't be discouraged because I'm going to explain what you need and what you need to do.

So it just makes it tough. If you have low income, it might make it difficult to qualify for financing.

Maybe.

There are loans out there again, believe it or not, that are asset-based and

they don't even look at your income.

So you could literally have no income, no assets, maybe

no job and qualify.

Does that sound familiar?

Sounds like history repeating itself from the 2008 Great Recession. remember the housing market crash of 2006, but that's not

where we are today, that's actually not the case.

So let me break this down for you.

When it comes to real estate investing, you need what I call the three C's, the three C's and that is cash, credit and

competence. Let's break this down. The first thing you need is cash. So this can be a function of your income, but if you don't have enough income to save up the investable cash, the savings that you need for the down payments to purchase your real estate, then you obviously need to do something about that. So what do you do? Well, you need to focus on building your top line, meaning the revenue or income you get from your job, your profession, your business, whatever it may be.

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