I have had a rental for about a year now. Brought for 67k estimated at 90k. Mortgage 570 (fha traditional 30year) rent is 900. I also tryed to sell my home wIth tenants for 78k and pay off debt and startIng over, but nobody wanted It due to tenants already lIvIng In It. ( great tenants btw). But most buyers wanted It for fIx and flIp I belIeve. How should I go about getting my next property. I would love to get a hard money lender but I'm scared I wouldn't get a loan do to my seriously low credit score (let's just say under 500 smh). Also I work for USPS I make about 50k a year. What are some of my options? How could I get money to start my journey to financial freedom? I feel like I'm stuck. Helllllp!! 🙏🏾

@Chris Smith you can aquire a ton of rentals with the seller Finance strategy or MTG takeover strategy. I'd look these up and learn everything there's to learn. I would also connect with every wholesaler in the area. Meanwhile, id get a motivated sellers list and start cold calling. Hope this helps.

@Chris Smith Not every lender has a credit requirement; however, they may not offer you as much leverage as they would someone with a higher FICO.

@Chris Smith I'll echo what @Daniel Molina said. You may be able to find an asset based lender that will help you with a long term loan.

If I was in your shoes though, I'd probably be look to include the owner in financing.

First of all if you want to sell your rental it should be marketed to investors not home owners. Sounds like it is being marketed wrong by your agent. Tons of investors would jump on a $90k house being listed for $78k.

Second you need to get your personal finances under control before you invest. It puts you with additional risk and is unfair to the lenders who you are not paying back. Fix your credit then invest.