Buying Properties -Poor Credit

I am brand new to this website. I am a licensed Real Estate Agent and want to begin investing in real estate . My problem is my credit score average is 620, have an average of $5-10K to invest on a monthly basis, but am in the process of paying back Uncle Sam for back taxes and it shows on my credit report. Right now I can not even get a car financed unless I put 50% down. What are my resources for obtaining financing???Thank You for your responses in advance.

a 620 fico score should be able to allow you to get your hands on plenty of financing. Are you on a court appointed payment plan for the back taxes?

Where are you located?

I’m located in Missouri. I am using an Accounting firm that has negotiated a pay back program. Thanks for the response.

I just helped someone buy a home, 100% financing with a 621 and a judgement on their credit and got them approved through traditional “A” paper financing. That was due to a strong pay history with no lates on the judgement. If this fits your scenario, you should be in good shape, although there are other factors to consider.

I would have suggested that you find a partner who has good credit. You seem to have more than enough money to start your portfolio. But I think your question has been answered.

Good Luck to you. Did you try an offer in compromise regarding your taxes?