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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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22
Posts
5
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Tarek Emam
  • Rental Property Investor
  • Bayonne, NJ
5
Votes |
22
Posts

Ready to buy, but bad credit

Tarek Emam
  • Rental Property Investor
  • Bayonne, NJ
Posted

Hello All,

Heres my situation, I am 25 years old living in Bayonne, New Jersey and I want to get started in real estate ASAP!!!. I have funds available but I have an issue with my credit score. Its pretty low but iv been working on it for the past 5 months and on top of that I have been working with a credit expert to help me get my score back up. Like i mentioned, I have funds available ready to purchase an investment property (preferably a fixer) but I know I wont get approval from a bank when its time to refinance the property after I get it all fixed up. I am planning to only implement the BRRRR strategy on all my investment purchases.

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2,308
Posts
1,035
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
1,035
Votes |
2,308
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Replied

@Tarek Emam got it. Before closing on the deal that ultimately set us up on the track to financial independence I spent a about a year to a year and half researching, going to meet ups, finding like minded people. I was in a similar spot where we had to wait. Turn the negative into a positive and worked out well… FYI shoot me a text, we are announcing big NJ REI meet up coming this July!

  • Shawn Mcenteer
  • 9739753895
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