BUYING RENTAL PROPERTY - Posted by regina rumke

Real Estate Investing
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Posted by Space Available on January 07, 2003 at 08:57:03:

  1. Look for money from sources where your credit isn’t as important as the property:
    a. seller financing
    b. sub-prime lenders such as finance companies
    c. hard-money lenders.
    d. find a partner with good credit

or

  1. Contribute significant equity.
    a. large down payment
    b. interest in other property
    c. profit sharing with the seller.
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BUYING RENTAL PROPERTY - Posted by regina rumke

Posted by regina rumke on January 06, 2003 at 20:23:18:

Is it possible to purchase property with bad credit?If so how?

3

Re: BUYING RENTAL PROPERTY - Posted by GL(ON)

Posted by GL(ON) on January 07, 2003 at 09:53:09:

It is easier to get seller financing on rental property (apartments) than it is on single houses.

Right off the bat they are harder to finance and the owner knows it. In many cases if the property isn’t a “gem” he will know that he will have to get “creative” to sell it.

Also investors are likely to be more sophisticated and open to creative offers .

Plus, when someone only owns one house they sometimes want to squeeze every nickel out of it because for them it is their only chance. If someone has 100 houses or apartments they aren’t so fixated on any one deal. In some cases they will practically give a property away if it has been a headache for them.