Updated over 5 years ago on . Most recent reply
Can someone start investing with a bad credit score?
Short answer, Yes. Feel free for anyone to chime in!
I'm a local agent in Frederick, MD and I saw this question asked on a local investor board here in the State. I wanted to make it more "National" just in case other people are wondering the same.
There are a few logical ways to get started with a bad credit score. One would be to start looking into Hard Money, Private Money, etc. ..but the interest rate is going to be MUCH higher than you would expect with any sort of regular mortgage type of loan.
Another way would be to simply put more money down to show your seriousness, even with a bad credit score. You may even have a great Debt:Income Ratio that most lenders weigh in just as much (if not more) than your credit score.
I know there are a few other ways, but wanted to get this thread started for anybody else ready to contribute!
Brandon