creative financing???
Greetings my good friends at Bigger Pockets! My wife and I are looking to acquire our very first rental property. (WooHoo!) However, we need some ideas on how to get financed.
The scenario... We have no money to put down, we both have pretty good credit (upper 600s) & each have jobs, yet we are close to maxed out on our cc. I also recently started an LLC out of my home state of NV and am filed as a foreign entity in IL, which I want to purchase all our properties under, however because it is new, it has no credit history, which means we will have to cosign.
We want to use the good debt to eliminate the bad debt and build our rental portfolio and eventually retire.
Any ideas?