Bad credit, no money. Any ideas? Owner is willing to finance 20%!


I have bad credit, and no money down. However the owner is willing to finance 20% for this property.

Does anybody have any ideas? I think a hard money lender might have interest that’s WAY too high. Does anybody know of any good companies that might be able to get me ownership on this property?


Is this an investment or do plan on owner occupying and using as your personal residence?

Any ideas? Yeah. Fix your credit and save up some money.

I have bad credit, and no money down. However the owner is willing to finance 20% for this property.

Put yourself in the investor chair for a moment. Just ask yourself, based on what you just told us, would you risk lending to you and allow you to have nothing invested?

The days of “no skin in the game” financing are long gone. Especially with bad credit. Your best bet, as Tatertot mentioned, is to get your personal business taken care of first. Once you have that in place, more doors will open for your investing options.

This is an investment property. 50 units, and the owner is willing to finance 20%.

What they are trying to tell you is that the days of “easy” financing/money give-aways are gone. Lenders want/need you to have SOMETHING invested in the transaction. If the seller finances 20% and a lender finances 80%, what does ‘HouseHunterRobert’ have in the game? Answer: NOTHING.

This doesn’t fly anymore.

You have no money and BAD credit (your words). Frankly, you are a terrible risk for a lender - you have no money and, most likely, a history of not giving tehm their money back as agreed upon.

HML are not really for long-term investment, they are more to get projects done and the money repaid in a relatively short time. At 20-22%, it will really gouge into any potential positive cashflow that you might have had - and in a serious way.

Tatertot gave you excellent advice - “Fix your credit and save up some money”.


Here is another option. Forget owning the place, do this instead.

Take out a purchase option on the place then go market the property and get it sold considering the owner is willing to 20%. This along with other favorable terms on the 20% should get you a buyer.

Once you have it sold and have collected your profit, use that money to clean up your own back yard and then go find other deals. Wheather your going to employ a purchase option or just straight out buy them.

Hey and the beauty of this is that there is virtually no risk to you if done correctly. Just upside profit, and the ability to see that you can actually do deals regardless of your credit, income, and or whatever else might be ailing you.

Now go do the research and go make it happen. Its up to you!!!