BEGINNER

I’M LOOKING TO START INVESTING IN REHAB PROPRERTIES, BUT I HAVE TERRIBLE CREDIT. CAN ANYONE GIVE ME ADVICE ON GOING ABOUT FINDING LENDERS THAT WILL WORK WITH ME AND WHERE DO I START. I’VE PURCHASED BOOKS ON FLIPPING PROPERTIES AND INVESTING IN REAL ESTATE, I EVEN PURCHASED THE CARLTON SHEETS PROGRAM WHICH I’VE BEEN READING AND LISTENING TO DAILY. AGAIN, WHERE DO I START AND IS IT POSSIBLE FOR ME BAD CREDIT AND ALL TO BUY PROPERTY WITH NO MONEY OUT OF MY POCKETS.

PLEASE ADVISE!!!

Nice to meet you.

With Bad credit, you have a few options to choose from.

  1. Credit Repair

  2. Seller Financing

  3. Hard Money or Private lenders

  4. Sub Prime Lenders

These are a few of Many options.

I am sure many others in REI can name some more? :wink:

Happy Investing :smiley:

Nice to meet you also, thanks for the info. I have a question though, can you explain to me how seller financing would work. And do you profit from this option.

Thanks

Sure, Seller financing would be where as an example:

Use the seller as the Bank. Ask them would they hold paper on their wonderfull propery, or a least give you a 3 to 5 year option on it.

You may only have to give them a few thousand to make it work, or sometimes less than that.

Happy Investing :smiley:

You can obtain a loan though a broker. Most brokers won’t bother with tough loans because they can take a lot of time and energy that they could focus on easier files. Remember their will always be a broker who does so don’t expect a good rate with bad a credit and no $ down. But, if plan on fixing and flipping take wallacehobbs advice and look for seller financing.

Cool, thanks for the advice.