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Updated over 3 years ago on . Most recent reply

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Eddie Burkacki
3
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New to investing needing advice

Eddie Burkacki
Posted

Hey everyone! I’m new to this real estate investment but as for everyone I have to start somewhere but every time I try to get a loan I get denied for credit or not having enough money. And when I tried to look for a agent they also told me I needed to be approved before looking for property. I’m in a really good area and has a lot of good opportunities near the Chattanooga area but having trouble getting started. Anyone got any more advice for me so I can hopefully get this train going soon!

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Chris Allen
  • Temple, TX
212
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Chris Allen
  • Temple, TX
Replied

@Eddie Burkacki I was looking at Chattanooga for a while to invest and actually had a property under contract at one point. Love the area, have a cousin who lives there as well!

Besides the "creative financing" and "hustle" that is no doubt great advice, I would recommend a few different things.

- Ask your lenders "Why", and "How" you can get approved. Work on those things like your credit score.

- If you have a family member or really good friend, try to work out a deal where they co-sign on the loan with you so you can use their credit.

- If you are unable to buy a personal home with your credit right now, you may look into other avenues such as investment property with HML.

  • Chris Allen
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