Investor · Miami, FL · Member since 2015 · 28 posts · 7 votes
Hi Everyone,
I am new to investing. I've been doing this for a year now. So far I've been buying distressed properties with equity, fixing them and flipping them. So far so good, but I've only bought cash only properties and I've been investing my own money (I know bad move but I could not get financing for these properties) and now that the market is changing, everything is becoming expensive.
The issue is I want to continue investing but I can not get financing from a bank because of my credit score and I am nervous about hard money lenders. Any ideas????
I'm curious to see what from seasoned pros have to say about adapting during this cycle change as well. Did experienced buy and hold guys sell any part of their portfolio in 2004-2006, or hold it and weather the storm?
That is a very good question. I have three properties that I wanted to hold but I am skeptical because of the market change. I do not want to miss my opportunity and lose equity.