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Updated about 6 years ago,
Own 1 rental $800 mo cash flow, terrible FICO, finance options?
Hello newbie here looking to buy my 2nd rental prop. I own an out of state condo in Louisiana; estimating it's value at around $75K conservatively. It has been bringing in $800/mo rent for some years now. I've been hands off with that property (mom manages it currently) My credit score is horrible, under 600 and I have no savings at the moment : / Wondering what my finance options might be, as in what type of loan ??? My head is spinning with all the new terminology I'm trying to learn. I've not read the book about No or Low $ Investing yet, but I will if that's where I should start. I'm wanting to get started soon with the goal of investing in 1 property per month or as close as I can get to that #. Thanks and glad to be here!