hi, I’m a first time writer. I have access to a home in Houston Tx. It’s worth about 95K. I can probably get it for 65 or70K but I don’t have good credit and I have never flipped a property. I was looking for advice or for help. Any ideas
A good hard money lender will not require you to go into details on your credit, the money is just more expensive. Most Hard Money lenders will go 70% so that gives you a loan of about 66K. You would have to come up with money for the difference and pay the points at closing.
see if you can get the owner to carry the note, or do a lease option. you never know unless you ask.
see this thread it will help you in 100% even with low credit
http://www.reiclub.com/forums/index.php?board=26;action=display;threadid=4002