I'm new to real estate as a wholesaler in fact I have tried several "own your own business from home." Opportunities. One starting a digital marketing agency, one as Amazon audible. I got out of prison with a recent felony it was harder to get a job post- COVID but my credit was pretty nice so I applied for a few credit cards and tried to start my own business before I found real estate. There were so many little hidden costs like paying for a domain name, paying a para-legal for service contracts. Long story short I ended up more then 20 k in credit card debt. So now as a wholesaler I am starting from zero and securing the earnest money to put into a contract is hard. Without having a job for over a year my credit went from 760 to under 600. I have a financing pre-approval for 500k to put towards a property that I want to turn I to an Airbnb but I need 10-20% to put down or an asset based loan for all of it with no down payment to secure the contact and commercially lease the property to pay down the loan completely. Any advice or help ideas how to use the contract in ways I haven't thought of or a asset based loan from a private money broker for the whole loan the property is listed for 200k.
