All Forum Posts by: Ryan Gifford

Thank you @Amanda G. and @Eric Carr. In the case of BRRR where I would want to refinance, do hard money lenders do this? I would imagine the interest would cost too much. It seems I would need a partner who would be willing to take the mortgage into their name. Would that be a reasonable solution? I am hoping to buy and hold.

Hello everyone - I recently have sold a business that I over-leveraged and have quite a bit of debt left from it. Due to this, I am left with very poor credit. I am hoping to purchase my first BRRR property but am worried I will not be able to refinance any time soon. Any ideas of how to combat this?

Hi everyone!

This is my first time posting on Bigger Pockets. 

I live in the Bay Area and work for a public home-builder as a Land Acquisition Analyst. My day-to-day tasks include in-depth market research, pro forma compilation, product programming, etc. I feel very comfortable with real estate and know my skills can be used to start personally investing. My goals (with my limited knowledge) are to do fix-and-flip deals to earn money and then reinvest in buy-and-hold properties. I am comfortable in residential but also want to do commercial long-term. 

My concerns starting are my lacks of funds, investment experience, and VERY poor credit. My family and I recently owned a company which we got over-leveraged in and decided to sell. From this experience, our credit took a hit and we will be rebuilding it over the next few years. I don't want our situation to stop us from investing in real estate. Does anyone have advice on next steps on how I can proceed with my situation?

Also, any thoughts on investing in a different state? The Bay Area is very expensive. Thoughts on investing in expensive places?

Thank you!

Ryan