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.
Creative Real Estate Financing
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 about 6 years ago,

User Stats

278
Posts
155
Votes
M Marie M.
  • Rental Property Investor
  • Washington, DC
155
Votes |
278
Posts

Bad credit tenant wants to buy

M Marie M.
  • Rental Property Investor
  • Washington, DC
Posted

I am going to sell my Florida rental this year. 

My tenant wants to buy it. Great, except their credit is horrid. Like maybe a 530 FICO score horrid.

Ever since switching from having my mother demand rent to automating it with Cozy.co 2-3 years ago, rent collection has not been a problem. Since then their credit is good with me. So, I said I would look into options for them to purchase. Okay, so this is me looking into options.

If I understood owner financing better I would do that. But I don't. The house is worth about $50K, as is, so I'm not sure if it would even qualify for a mortgage.

So what would you suggest?

Loading replies...