Financing options after Chapter 7 bankruptcy - How bad is it?

4 Replies

So we had a business fail in 2015, and just finally got to bankruptcy discharge October of 2017.  I am aware that personal mortgages require a minimum of 2 years post BK for certain types and longer for others, but what about for investment properties?  Are there similar required waiting periods?  What creative solutions could I employ here?  

I have very little saved so far
I have about $1200 extra per month (but would rather not wait 2 years to have a chunk to invest)
~605 credit score
3 months post bankruptcy

How realistic is it to approach an investor and say I need money for a down payment and for them to take out a mortgage to finance the deal?  I'm prepared to do what it takes to get a deal done, so hopefully someone here has some experience, input, or advice! 

When is the best timeframe to start seeking financing when approaching the two year mark for a personal chapter 7? 

@Graham Lutz
They will say one of two things - NO, which I think is the case if you also have no money for s down payment, or expect to pay 16% plus and need to put 20% down on the property

Questions you will be asked is why should we lend to you and what have you learned since filing chapter 7.

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