Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
New Member Introductions
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 almost 6 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Chris Smith
  • Rental Property Investor
  • Norfolk, VA
0
Votes |
3
Posts

I have bad credit but looking for second rental

Chris Smith
  • Rental Property Investor
  • Norfolk, VA
Posted

I have had a rental for about a year now. Brought for 67k estimated at 90k. Mortgage 570 (fha traditional 30year) rent is 900. I also tryed to sell my home wIth tenants for 78k and pay off debt and startIng over, but nobody wanted It due to tenants already lIvIng In It. ( great tenants btw). But most buyers wanted It for fIx and flIp I belIeve. How should I go about getting my next property. I would love to get a hard money lender but I’m scared I wouldn’t get a loan do to my seriously low credit score (let’s just say under 500 smh). Also I work for USPS I make about 50k a year. What are some of my options? How could I get money to start my journey to financial freedom? I feel like I’m stuck. Helllllp!! 🙏🏾

Most Popular Reply

User Stats

131
Posts
59
Votes
Daniel Molina
  • Lender
  • Charlotte, NC
59
Votes |
131
Posts
Daniel Molina
  • Lender
  • Charlotte, NC
Replied

@Chris Smith Not every lender has a credit requirement; however, they may not offer you as much leverage as they would someone with a higher FICO. 

Loading replies...