150k and bad credit
I have bad credit; some old medical bills, one bad credit card and some student loans as well. My credit is shot for now, and I have been slowly repairing it and paying things off, but no bankruptcies.
I am sure I dont qualify for financing let alone fha I assume, but have access to 150k.
I live in Cleveland and my niche is landlording. I share ownership of one duplex already in a nearby area. I want to acquire 2-4 unit properties and I am open to partnering up.
I thought about going through a home inspection course to understand what I am looking at when finding properties, and I wouldnt mind going through a rehab course or apprenticeship either (I have laid asphault before) in order to price out repairs and oversee contractors, eventually.
Around me are duplexes ranging from 35k-55k that will cashflow for 550 month for 2bd with rehab costs ranging from 1-5k for each unit depending on how turnkey I find the property in.
What would you do in my shoes? Buy cash, partner up, a mix of hardmoney and cash? Appreciate any recommendations!