Updated over 5 years ago on . Most recent reply
Bad Credit - How to start investing
HI, I'm new here. I had a business a few years ago that failed and killed my credit and savings. I have been a Real Estate broker since, in residential at first, but now working commercial. Until recently, it was simply sales and typical broker representation - no investment type deals. Recently I decided to focus on income producing properties and begin participating as an investor. However, my credit is bad and so are my savings due to a failed business a few years ago. I have a couple of investors/clients looking to do the same (long-term rentals and value-add multi-family resale/hold after 5 years). My question is how do I (what kind of written agreement do I need) purchase a property using their money, add-value, refinance, and repay their investment/and interest, and keep the property under my name, considering my credit problems. I would appreciate any advise. Thank you.