obtain financing

[Jerrell Slay]

hi everyone, today I seen a fourplex for sale for 250,000 dollars. I'm wondering what is the best way to obtain financing when you have bad credit. I've heard a lot about using other peoples money but how does that work do you find the place of interest get it under contract and then take it to a hard money blender or private  lender or is there another creative way of doing this, the owner said the property is currently rented so I'm thinking it will pay for it self, its just a waiting game. Any thoughts?? Or am I completely off

[Aaron Junck]

With really bad credit you going to be in a harder position than those with mediocre credit. The reason for it is that investors see you as high risk. 

If you have cash to put down on the property and have bad credit you may be able to still secure a deal. If your looking for 100% financing on a project your going to have to show an investor (private lender) some sort of value(LTV) along with security to show a lower risk to offset your poor credit.

Your best bet may be to spend some time and repair your credit and in that mean time network and learn as much as you can.