Posted by yenixis centeno on January 10, 2005 at 10:33:27:
so what and how do i do it without costing me a fortune. i’m really confused now as to who to believe. keep in mind they were accounts that were truly late, and then paid off. you still think I have a right to get those off.??
financing options - Posted by yenixis
Posted by yenixis on January 04, 2005 at 09:20:48:
hello. My husband and I are very interested in real estate investing. We have spent countless of hours researching the subject, however we have not found any solutions.
Withoug getting into great details, we are currently trying to get back up on our feet after a failed business venture. I know there are ways to make money without putting money out of your own pocket (which i do not have), i’m not looking for an easy answer, it does not matter what it takes. but how can someone like us, with tarnished credit, and no cash make this happen. we own a home and both have a steady income.
MOst courses offered cost a fortune, and although I would love to take some, I can not create a new debt.
I hope someone has suggestions.
thanks…
yenixis
Re: financing options - Posted by robert
Posted by robert on January 08, 2005 at 19:53:33:
send me an email, and I will give you some places to check out that have good info, and are free. the ones that are not, you can use my username and password to see if you like those. good luck
Re: financing options - Posted by John (OR)
Posted by John (OR) on January 04, 2005 at 11:09:50:
You an be a RE investor without credit and cash. It helps if you
have both but they are not required.
The key is to focus on deals where your cash and your credit are
not the issue.
Two types fall into this.
Deals where you are partnering with someone else or birddog,
flipping, wholesaling, etc before it comes time to put in a lot of
cash or raise a loan. The other person takes care of those aspects.
Deals where you are buying so cheap you can get a loan based
on the value of the property and not based on your situation. Hard
Money Loans (HML) is the phrase you will see.
What you did not mention is anything about where you live and
what the local market is like. There can be different opportunities
depending on your market. One market I know the banks sell for
less then 65% of the real value when they want to unload a
property. In another market focusing on MH deals will work well. In
a third market being a birddog for higher end homes works better.
John
PS. As to education. Stick to books and forums. Check the library,
the local bookstores and a local RE investing club. Save your cash
for hunting down deals. After you make a little profit then decide if
you want to take a seminar.
Re: financing options - Posted by yenixis centeno
Posted by yenixis centeno on January 10, 2005 at 07:31:54:
thanks for the info. I was actually told by a debt councelor that there is nothing that can be done about debt that has been paid off. it will remain in there for seven years. They told me it is illegal to remove anything from there. is this true. I’m confused, then why all the claims " for such and such $$$ we will remove … from your credit report" are all these scams???
Re: financing options - Posted by John
Posted by John on January 10, 2005 at 08:58:00:
That is not true it is not illegal to dispute those items. it is your right