With the exception of building a trailer on the property (these are hard to finance), this sounds like a good plan AND if you are using it for your business AND your business pays more than 50% of the rent (if you have more than 1 tenant), then this is a more financeable property in the eyes of banks and credit unions as it would be consider a commercial "owner-occupied" property. 

Plus, if you aren't able to get approved with what you've got now in terms of savings, credit, etc. you can learn on what you need to qualify so you know what to be working towards. 

Monty, take a small amount of time to work on your credit daily.

Fort Lauderdale has higher purchase prices and nightly rates, but Pompano has had an influx of investment and continues to improve, specifically by the beach. 

There are thousands of websites out there that are disguised as helping the public find the best of the best but at the end of the day its simply taking your info and selling it to a 3rd party as a lead.If you are trying to buy a home or an investment property and you have good to excellent credit you should always use an FDIC Bank or Credit Union.

The other part of this is that in addition to this, we are borrowing from our home equity line of credit to put down the 20% deposit- so we have that payment too.   

It’s interesting how you mention that offering flexibility as a lender has opened up opportunities for borrowers to pursue deals they might not have otherwise been able to.As a private money lender, I'm always looking for ways to improve my services and better support investors like yourself.

Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

To the company’s credit, the site appears functional and impressive.More about Norada Capital Management, Norada Real Estate Investing Marco Santarelli and the infamous CFO, Ron Fossum:Mr.

If you have nothing, and make nothing, you declare bankruptcy, wreck your credit and try to go back to renting.