Rental Property Investor · Reading, England · Member since 2019 · 5 posts · 0 votes
I’m completely new in this business of Real Estate and I’m planning to start buying properties to rent and basically with cash payments. I’m not sure is it a good idea to do so but I see no other option like mortgage as I have a poor credit score due to past loans..
I welcome your recommendations and suggestions especially from a experienced background.
You should focus on fixing your credit because cash will only take you so far in this business. Also I would partner up with someone who has great credit. You need to think about your long term strategy.
Rental Property Investor · Reading, England · Member since 2019 · 5 posts · 0 votes
6y
@Steve Kontos I want to buy the first one with cash so meanwhile my credit should be back in place in the next couple of months. But thanks anyways for the good advice👍🏻
Rental Property Investor · North Augusta, SC · Member since 2018 · 105 posts · 40 votes
6y
@Jucando Pereira Hey buddy! If you have the cash to purchase a home outright, then you absolutely should proceed like planned. What Steve said does make sense, but if you have cash on hand then credit isn't a concern for you at the moment. It will only be a problem once the cash runs out. How do you plan on finding a property to pay cash for? Do you know how to go about figuring out what you want to offer someone?
Rental Property Investor · Reading, England · Member since 2019 · 5 posts · 0 votes
6y
@Nathaniel Hovsepian thanks mate for the link. Like as I said I’m new in this business, this is actually what I mean suggestions and recommendations like yours. Cheers!
Rental Property Investor · North Augusta, SC · Member since 2018 · 105 posts · 40 votes
6y
@Jucando Pereira Absolutely! I have learned a lot from a lot of good people on here, and I love to lend a hand when I can. I think you can learn a lot just buy scrolling around on my site, as well as other cash buyers' sites too. Why we are in the business, and the value that we are able to bring to sellers who need to sell their homes without an agent.