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Updated almost 4 years ago,

User Stats

15
Posts
7
Votes
Crystal Thomas
  • New to Real Estate
  • Georgia
7
Votes |
15
Posts

I am ready to purchase, but need advice

Crystal Thomas
  • New to Real Estate
  • Georgia
Posted

Hello to all out there! Hope everyone is having a good year so far!

So, I have been reading up on real estate investment... Rental Property Investing and Buy, Rehab, Rent, Refinance, Repeat are the two I have read so far.

My current situation is, I have a good credit score, I have the money for a down payment. When I applied to get pre-approved, I got denied because of insufficient credit history. I have one tradeline that's been open for 3 years, but have been told I need at least 3 open for at least one year.

Other than my credit history, I am ready to buy my first 2-4 multifamily property and start the BRRRR process. I have been looking around in Georgia and Alabama.

Are there lenders who lend to a borrower with a short credit history, or with 1 tradeline for 3 years? I have already opened up 2 more, but if that's all I am waiting for, I won't be able to purchase until the beginning of next year.

Any advice or suggestions are welcome.

Thank you all in advance:)

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