Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago on . Most recent reply

User Stats

4
Posts
0
Votes
Nickolas Lipinski
  • Handyman
  • Buffalo, NY
0
Votes |
4
Posts

Equity financing with bad credit

Nickolas Lipinski
  • Handyman
  • Buffalo, NY
Posted

Long story short.

Went thru a relationship issue and lost it all last year. So the credit score is horrible (was a 822 before. Yes I am sick about it).

Over the summer i bought a home in cash that's worth 140-160k. So some equity is there. I would like to use the home as collateral toward funding on a investment property. I make great money. So the income qualification is not a issue. 

What would be my best path going forward in the short term to obtain funding?

I'm thinking about starting a corporation and building a seperate credit line. Which is kind of what should be done anyway if your serious long term.... or would a different path be a better option here?

Throw me some ideas here community and possible lenders if you have them.

Loading replies...