Hamilton, NJ · Member since 2018 · 4 posts · 0 votes
Hello everyone I need some advice on how to purchase a 3br ranch in working middle class area of ocean county nj. The owner inherited the property from his mother owned free nd clear. He's not interested in lease opt but will rent it or said "make me an offer" to sell it for all cash but my credit is low 400s til I start working on it so what financing options do I have? Any help greatly appreciated
Rental Property Investor · Kansas City, MO · Member since 2016 · 112 posts · 75 votes
8y
@Twana McGrady In this situation, I would recommend working with a small bank for financing. I recommend using a conventional loan or portfolio loan as lower credit scores are more accepted than typical FHA and investment loans. If that does not work, you can look into getting a line of credit or personal loan.