I am trying to jump into RE. I have a stack of foreclosures I am considering, all in Minneapolis close to where I live. I have no cash and bad credit, and need hard money. Rehab projects. Bank wants $19k for one, comps put it at $165k. Another one is $26k, comps at $225k. Any help/advice?
What is your middle credit score?
What is the bad credit from, current debts or old past debts?
Was your credit problems just a one time occurance or are you still having issues?
I don’t know my score. Mix of old and new debt. Old debt is child support, student loans and back taxes. New debt is credit cards. Please help.
Try bird dogging for a fee until you build up enough capital to purchase properties with 10% down. It’s alot easier to purchase with a DP.
Advertise the 2 props that you speak of as a start. If your good at what you do you’ll find replacements.
Other options are; partner-ship or get a hard money loan.