Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

24
Posts
4
Votes
Rebecca Bryant
  • Cincinnati, OH
4
Votes |
24
Posts

Good or Bad idea to buy "bad" property just to have collateral?

Rebecca Bryant
  • Cincinnati, OH
Posted

I saw a property that is being sold for nearly nothing in the Cincinnati area. It is listed on Zillow at 6k but owner says in description that it is 3k. I looked on the auditors site and saw that the owner doesn't live in the state. The property would clearly need work and I just found it online so I haven't seen many pictures, just the outside. I mentioned this finding to my dad, he would invest on property with me but this is something I could do on my own since it is so low. Of course we know it's going to need tons of work if the goal is to flip. 

But with not having the best credit and not much of any purchasing history aside from a new car that I recently got, is it wise or foolish to purchase a property to be able to potentially get a loan for a better opportunity later on??

Thanks 

Loading replies...