All Forum Posts by: Jovani Bautista

@Bill S. Well I still have a mortgage that I owe on the property, but have never refinanced the property. I have been under the assumption that with poor credit refinancing would be less than likely for me to get approved.

In regards to credit, unfortunately family sometimes takes advantage of others and in this case that was the beginning to my credit spiraling. I did make poor decisions, primarily trusting in family, but I have learned. Rebuilding credit can take a serious amount of time so I just wasn't sure if I just need to "sit on the sidelines" until my credit improves. Or if there are other options, other than selling my property, that could get me going again.

I'd prefer to not sell as I feel this property was a steal and a gold mine.

@Martin Sterling Thank you for your response, I will research this option and see where I can go with it. Thank you for your advice.

Greetings, I am new to using Bigger Pockets, I currently own a duplex rental property in the Denver, CO area. I have owned this property for about 9 years now, which I bought when I was 21 years old. For the first 7 years my Dad managed and completed repairs for me. Things have changed (negatively) and now I am trying to get steady/good tenants and complete costly repairs in one current vacant unit. Along with the fact that my credit has hit rock bottom within this past year and other personal financial challenges I face. I know I have plenty of equity with this property and have been told to try using that equity as collateral, but I doubt I'll be able to do much to anything investing wise with my poor credit score and recent financial issues. I feel stuck as to if there are any realistic/quicker options for me. Credit can take some time to rebuild, but I would like to take advantage of my current equity position. Any advice would be greatly appreciated in advance.