Starting out with Subject To Mortgage strategy

[Robere Istatia]

Hello BP,

I am a current investor in the Tampa, FL market. I have been investing in raw land and have created a small portfolio of lands. The land investing arena has been doing very well for me but now I want to switch my strategy to get into the rental property arena. Unfortunately, my student loans have crippled my credit score and now I am approaching 30 and have credit below 550. I only have my student loans and a paid off car with no late payments on my credit. I was paying my car off and investing in my and business and not paying my student loans intentionally because they had very low rates. My strategy worked overall because my car is paid off and my business has been up and running, and my loans are still relatively low (14k.) The one caveat i have is that my credit score has suffered because of unpaid SL payments and the car didnt help because I paid it off in less than a year on a 6 year loan. 

I am in need of somewhere to live as my mom is planning on moving out of state. I wanted to switch my method to taking out a mortgage and house hacking it to build wealth through that, but I dont have the time to build my credit (I have since started paying my monthly balance on the student loans and have opened a credit card and am making payments for the full amount)(I have seen noticeable jumps in my score since starting these payments). Long story short, I havent found anyone that will provide me with a mortgage. I have always had subject to mortgage investing on my mind but now I need to start heading in that direction. I am here to ask the BP community to ask about what you would do from here, what contracts I need, any lenders that would give a low credit score a mortgage if they dont have anything big thats negative on there credit. Any response much appreciated. #OperationGetAHouse