Getting approved for $100K

[Michael Widick]

Trying to get a loan for a single deal, consisting of 3 doors. For $100k or less. Unfortunately my credit scores not great due to the high revolving credit my wife and I have. She owns and operates a business and utilizes the cards frequently to purchase inventory etc... we already own 1 SFH rental, trying to gain some more but having trouble getting approved. Looking for any and all recommendations

[Jason Shackleton]

Hi @Michael Widick With poor credit it will be a challenge to get approved through a traditional lender. Also It may be tougher to prove income with your wifes business opposed to having a W2 income. The good news is that most private money lenders do not care so much about credit they mostly look at the performance of the asset or ARV in the case of a fix and flip. Also I see you are looking at a 100k deal. I know a lender that will lend out as little as 50k.