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Updated about 5 years ago on . Most recent reply

User Stats

49
Posts
57
Votes
Brad Sparks
  • Rental Property Investor
  • Lakeside, CA
57
Votes |
49
Posts

Good deal, bad credit, started rehab

Brad Sparks
  • Rental Property Investor
  • Lakeside, CA
Posted

Purchased a property for $27k. Estimated Rehab is $80k. ARV $120-135k. I've put in around $15k out of pocket. I have poor credit (600) and high DTI but where there's a will there's a way. The people around me (family, friends, coworkers) either don't have the means or they think real estate in general is too risky. Worse case I pay down my debt, raise my score, and then go for a HML in 6-9 months. Any thoughts on how to get funding faster?

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