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Updated over 8 years ago on . Most recent reply

User Stats

9
Posts
3
Votes
Eligio Acero
  • Santee, CA
3
Votes |
9
Posts

No credit and no money

Eligio Acero
  • Santee, CA
Posted
So I'm tryin to figure out what would be the best type of loan I should try to use to do fix and flips on single family homes. I'm currently looking for deals in the San Diego area and it being expensive here I'm worried that not having any money and having bad credit is gonna get me no where and no find a loan can someone please help me! Now I know that fixing my credit is pretty much number one and I'm in the process of fixing that so that's already my number priority!

Most Popular Reply

User Stats

76
Posts
35
Votes
Natalia Collini
  • Orlando, FL
35
Votes |
76
Posts
Natalia Collini
  • Orlando, FL
Replied

I know hard money loans don't use your credit score to make their determinations. It's whether the deal you bring to the table is worth financing. So in that scenario it would be all about bringing the best deal you can find to them. 

Otherwise I would suggest networking with local investors to try and find some partners. I know that in my area I have found several people who would be willing to partner with me and fund any deals I can find, so long as the numbers work out. Is there a local REIA you could attend to start meeting other local investors?

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