Rental Property Investor · Clarksville, TN · Member since 2017 · 18 posts · 24 votes
7y
Why is your credit bad? Is it due to missing payments or handling money poorly? Do you have the resources to begin real estate? I think if you are having credit score problems you should set yourself up for success by getting finances in order first and read everything you can on real estate. Real Estate isn't going anywhere and in 6-12 months when you have your finances in order, you can safely jump out and take over the real estate world.
Rental Property Investor · Pasadena, CA · Member since 2016 · 85 posts · 19 votes
7y
Mine was 780+. The following ways can help boost your score- pay on time, increase your credit line as much as possible, payoff a big portion of the outstanding balance before running the credit check
Rental Property Investor · Clarksville, TN · Member since 2017 · 18 posts · 24 votes
7y
Why is your credit bad? Is it due to missing payments or handling money poorly? Do you have the resources to begin real estate? I think if you are having credit score problems you should set yourself up for success by getting finances in order first and read everything you can on real estate. Real Estate isn't going anywhere and in 6-12 months when you have your finances in order, you can safely jump out and take over the real estate world.
Rental Property Investor · Greensboro, NC · Member since 2018 · 24 posts · 11 votes
7y
@Mikel Billstrom
If you can get people to believe in you, you can make anything work. You’ll just need to partner up with someone who can have the mortgage in their name while you do all the work.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
7y
@Account Closed your definition of "bad" might be different than my definition of "bad". If you feel like sharing your score feel free and I can make more specific recommendations but if we were to assume that your credit score is unlendable by a licensed and regulated institution that means that you should seek private lenders. They do exist. HOWEVER, many a successful investor began their career wholesaling. And that usually doesn't require much of a score to get started.
Feel free to ask anything additional if needed. Thanks!
Specialist · San Antonio, TX · Member since 2015 · 909 posts · 297 votes
7y
credit is NOT needed to get started in real estate, go network show your worth and partner with people, raise private money, non prime sub prime or hard money asset based loans. then negotiate your debt, pay it off, and get 2 revolving credit cards that have great benefits such as hotels points or travel etc. use ONLY 25% of your credit limit each month and PAY IT OFF at the end of each month. you will repair your credit within a year.