Hamilton, Ontario · Member since 2017 · 3 posts · 0 votes
Hi, im from Ontario, Canada and new to this site but so far i love it!. So, i have taken the rich dad and another 3 day seminar, but now im deciding to do it myself. I found a coach/real estate agent so far with connections but not for financing. Technically there are 3 of us doing this but we all have bad/no credit or the wives wont let us use our equity so we are having a hard time finding financing. Also the real estate agent said to find how much money we can get 1st than look for properties but when we talk to lenders they want info on the property 1st (unless we're just not asking the right questions?).
So...... if anyone out there could help with advice, contacts to talk to, creative financing ideas please help steer me in the right direction. If you cant answer certain questions in this forum, PLEASE message me.
Attorney · Orlando, FL · Member since 2016 · 40 posts · 33 votes
9y
Hi Justin,
For listed properties have your agent look specifically for properties where the owners will consider financing it themselves to you. Seller financing is one way to work around having to get approved by a lender if your credit is not so good. Your agent should be able to see the kinds of financing that a seller will consider. You can also get seller financing on off-market deals, but you would just have to do more research/work with those (e.g., talk to the owner) since the owner's preferences aren't neatly written down in their listing (since there is no listing).