Are there any other web sites realestate investors can go on to get fiancing with no credit score requirements

Answer 1

How many times are you going to ask this question? I think you are on 20 or 30.

I think Ive answered it the best I can. If you have the property free and clear. Dont look for websites. Pick up your damn local newspaper and look under the money to loan section. Its hard money. They will go look at the property, and say okay its worth 300,000. They will say we will give you 100,000 cash. Your rate is 20% and it cost you 15points. And they will pray you dont pay them back. They are hoping to buy the property on the cheap. They dont care about you, they are hoping you default.

You have asked this question everyday for about a month. If you would have done anything I have said you would have your money 3 weeks ago. They only thing I can think of is that you really dont have the property. Or there are liens all over it.

If you have the property, you can have a check by the end of the day. It will cost you 50 cents to go buy your local newspaper and look up money to loan.

Im done answering this question again.

Answer 2

There are many places that will lend you money based on the equity in the property and will not consider a credit score.

The thing about those that will is the loan will be based on the value of the property as it is now. That might not be what you are looking for. Some will lend based on the future value of the property that will help you a lot better.

The best thing to do is get yourself a reputation of your own doing flips or what ever else you want to do. People will lend on a known product and if you can prove that you are a known guanity and can produce and deliver you can have all the money you want.

Take pictures of all your projects you do to include address, cost of purchase, cost to repair, cost to hold during repair and up to sellling the project.

This will give your prospective investors something to look at. You might also take them by a completed project as well as a project you are currently doing.

First I would place an ad in my local paper on a constant basis say ever Wed and Mon. for about 3-4 months. Your ad should read some what that you are a finder of real estate and looking for investors to finance your finds and you are willing to do all the work as long as they provide the money.

Most of these indivduals will want a 50% equity in the property. You should be ok with that.

Make sure when you are getting money from people they understand where it is going, when they can expect a return on their money and the amount of return.

So make sure you have a list of repairs, cost to keep the project afloat until sold, taxes and insurance to protect you and your investor.

If for some reason things don't work out for you, always, always take the short end of the deal, don't try to renegoiate with your investor. If you promised him/her a certain % give it to them without fail. Your investors should not even know that there was a short.

When things are going good youi will cheerfully call your investor and tell them about the good news. Well the same applies to when you are having a bad time. Call you investor and inform them of any problems you are having and when you will be able to solve this problem.

If you are good to 1-2 investors and make sure they are paid on time and with what you told them, money will cease to be a problem for you forever. They will tell their friends of their new found wealth and put you in contact with them. This is the best possible way for you to make large amounts of money in the flipping field.

If for some reason you have a problem with figures, projections and you might want to hire someone to do this for you like an accountant or someone that know a little about real estate. Your father, mother or someone in your family might be able to start you out.

You will never have to fill out a loan application or produce credit reports. Just make sure your operations is tight and remember that taking $150,000 is peanuts when you can make over $350,000 per year and all you have to do is find projects to do. This will become increasingly harder to do as your investors list become longer.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

Come on people you got lousy credit there just is not that much out there for you without paying hidh double digit interest rates.

That is the punishment by already having proved you are a lousy credit risk for whatever reason!

If you do find someone on these answer thread that says everything is sunny and rosy in the awful credit markets RUN do not walk!

Answer 4

Lending One (www.lendingone.com)

I think they have instituted a 640 median score recently but they are investor friendly.