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Updated about 7 years ago on . Most recent reply

User Stats

183
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68
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Dante Foreman
  • Investor
  • Owensboro Ky
68
Votes |
183
Posts

Heading towards my first deal

Dante Foreman
  • Investor
  • Owensboro Ky
Posted

Receiving a huge tax refund this yr. It will be just enough to buy a cheap foreclosed home,I won't have any money left to do any rehabing on it.  With bad credit and no revenue or collateral from my business will I still be able to find funding for my project?......... I Dnt mind the rude replys just making sure it's useful information. Thanks in advance 

Most Popular Reply

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2,953
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Alexander Felice
Pro Member
  • Guy with Great Hair
  • Austin, TX
4,475
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2,953
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Alexander Felice
Pro Member
  • Guy with Great Hair
  • Austin, TX
Replied

Private money is your only option I would think

if you have bad credit, you need to work on that ASAP. Even private lenders prefer you have good credit.

I would also be careful with stretching your cash to buy an asset that just sits there. This is a TERRIBLE use of resources especially if you can't really afford to let it sit. Make sure you can run the deal all the way through before you buy it. IMO

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