my self How do I get the money to buy these properties and fix them up. I have bad credit so a banks not gonna do it. I know I can just save the money I make from selling houses as an agent but what if I wanted to get started now?
2006-10-23 09:01:57 · 5 answers · asked by unique 1 in Business & Finance ➔ Investing
You really need to focus on fixing your credit because no reputable lending agency will finance your American Dream if you have poor credit. Pay off your existing bills before you incur more. How's that for a plan?
2006-10-23 09:10:38 · answer #1 · answered by lolo 5 · 0⤊ 0⤋
Depends on how bad you think your credit is? If it's just collections you can get qualified for a loan right now. You might have a bad interest rate but that dose not mean you wont get the loan. If the bank request for you to payoff the accounts prior just look for another sub-prime bank. Buy 100% preferable a for-closer so that way you can refi in 6miss pull cashout and fix your credit and maybe qualify for a better intrest rate with a lower LTV.
2006-10-23 11:57:06 · answer #2 · answered by janel m 1 · 0⤊ 0⤋
I had the same problem. The first thing I did was fix my credit. Once I settled that up, I was able to receive a loan and started my real estate venture. Now, I am a real estate investor and have just bought my third foreclosure investment after finding it on foreclosure.com.
2006-10-23 10:04:31 · answer #3 · answered by Kampbell 2 · 0⤊ 0⤋
read tips on real estate, investing and much more on this site
2006-10-23 09:23:51 · answer #4 · answered by lushy 3 · 0⤊ 0⤋
Why not repair your credit first and then borrow it?
2006-10-23 09:05:08 · answer #5 · answered by osunumberonefan 5 · 1⤊ 0⤋