All Forum Posts by: Ron Elliot

Hey Everyone,

Long story short I'm in need of a stragey to get back into buying poperties. I have a judgement on my credit report. Which I'm in court to appeal. My score is below 600. I want to get a mulit famliy property for under $100K fix it up rent, take the equity out and then buy and flip the next one.

Question is how do I get around my credit with a hard money lender? Or is there another way I should go

Thanks, after thinking about this some more and reading the responses, I believe you are right. My eagerness to get started has made me a little impatient, I'm going to pass on it and help him short sell it. 

Thanks for the response, Yes it can be rented out. which is what I plan to do, and the balance is 120

Hello Everyone,

I am new to this site and this is my first question. My father currently has a single family property that he is giving to me to start my dive into realestate investing, However the property is about to go into foreclosure. The loan originated with Chase, who recently sold it to Seterus, who is now about to start the foreclosure proceedings.

The mortgage is $600 a month at %2 and the past due is close to $4,000.  My plan is to  get a hard money loan for $30,000 to do small renovations about $2500 and rent it out and take the remainder to purchase another property to flip. 

The few issues I have is I'm not sure of the equity in the property.  There are home in the neighborhood that have recently sold for 125 - 150 but there are also foreclosure that have sold for 35.

I look forward to some suggestions