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Updated about 9 years ago on . Most recent reply

User Stats

31
Posts
4
Votes
Mia Gomez
  • Real Estate Agent
  • Springfield, MA
4
Votes |
31
Posts

Dilemma , please help

Mia Gomez
  • Real Estate Agent
  • Springfield, MA
Posted

so, I just finished reading the ultimate beginners guide to rei and how to invest in real estate with no and Low money down. My credit score sucks and as I'm brand new to this industry without any feet in the door I sort of suck with comprehending a lot of the terms and processes... I wanted to know since my credit score is pretty bad and I'm on disability what can I use for a loan? My main interests and niches would be buy and hold and flipping houses. I definitely am interested in the small multifamily homes (2-4 units) and would want to live in the apartment. But if I have no job and bad credit I fear I would be denied. How can I go about a loan? 

Most Popular Reply

User Stats

1,374
Posts
913
Votes
Adrien C.
  • Property Manager
  • Griffith, IN
913
Votes |
1,374
Posts
Adrien C.
  • Property Manager
  • Griffith, IN
Replied

I would recommend getting some sort of job so you have something to pay bills and buy food. Your decision making process in REI will be clouded and faulty when you're in a financial bind. You'll make bad decisions and force deals when it isn't there. As you work to put yourself in a more stable position financially, educate yourself on REI so you'll be ready to roll when you can.

  • Adrien C.
  • Loading replies...