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Updated almost 4 years ago on . Most recent reply

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Mario Jimenez
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3
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What are my options? Cash ready but Bad Credit!

Mario Jimenez
Posted

Let me start off by saying I'm a complete rookie when it comes to real estate investing. I'm looking to get into rentals but have bad credit, so conventional loans are out the question. I have around $30,000 waiting to be invested, but have a couple of questions I hope the experts can answer.

The property I'm interested in is $145,000 for a four plex. With the $30,000 I have and considering the bad credit, what can I do to get this property under my belt? Should I put the whole $30,000 down? If so, what are my options with the remaining balance? Or, how can I utilize this $30,000 to get into a deal that cost more? 

FYI, working on the credit with other funds. All advice is deeply appreciated.

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