Can you get away with poor credit?

[Brian Tran]

Hello, I wanted to ask if an investor can get away with poor credit? I was talking to a loan broker telling him my situation but he says that most people don’t like to wait and could work with scores as low as 500 but I couldn’t imagine how it would work with the interest rates. Not to imagine the insurance premium as well as anything else I might have missed.. Much appreciated

[Joshua D.]

@Brian Tran

Well, there are a lot of different ways to invest in realestate and good credit is not needed for all of them...  If I was you I might look to find some one who is willing to do owner finacing or contract for deed.  Something like that.   

I have never hear of credit effecting you insurance, but it will effect your intrest rate for sure.  

I would advise you to log onto a thing like “credit karma” and let them help you figure out how to improve your score. It’s free and very helpful. 

Best of luck to ya sir!