Is it still possible for me to invest into real estate.

Is it still possible for me to invest into real estate.

Member since 2019 · 1 post · 0 votes

I want to get invested into real estate but have bad credit. I believe this is my biggest obstacle and don’t know what route to take. Any advice?

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Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
6y

Do you have any cash on hand?  Your credit will always be a problem until you address it.  If you have cash on hand I would use it to clean up your credit.  If no cash on hand, My suggestion is to find find a partner - flip a property or 2 and use the profits to clean up your credit.

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  • Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
    6y

    Do you have any cash on hand?  Your credit will always be a problem until you address it.  If you have cash on hand I would use it to clean up your credit.  If no cash on hand, My suggestion is to find find a partner - flip a property or 2 and use the profits to clean up your credit.

  • Rental Property Investor · Charlotte NC · Member since 2019 · 306 posts · 183 votes
    6y
    Originally posted by @Brandon Harding:

    I want to get invested into real estate but have bad credit. I believe this is my biggest obstacle and don’t know what route to take. Any advice?

     Brandon, I would in my opinion really focus on improving your credit! Your credit is everything when it comes to real estate. All lenders will check your credit. Even most private lenders will check it.

  • Rental Property Investor · NC · Member since 2018 · 776 posts · 776 votes
    6y

    Do you have credit card debt? Have you missed payments? What score do you have? What's the length of the oldest account? Are you maxing the card out every month? 

    Look into what builds a good credit score and start working on that. There are ways to get into RE without credit but it will be much more difficult. 

  • Lender · San Diego, CA · Member since 2019 · 874 posts · 355 votes
    6y

    @Brandon Harding when you say bad credit what score are you taking about?

    There is a new program that blends borrower and co-borrower Ficos.

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