How To Buy Investment Property With Bad Credit For Savvy Cleveland Investors – 4 Ways

For most people, a house can be a costly acquisition. Chances are, the house you live in is one of the biggest purchases of your life. And the real estate investments you acquire may not cost as much but it’s possible that you might be thinking about using loans and mortgages to buy those investment properties.

You might be wondering, like a lot of investors, how to buy an investment property with bad credit for savvy investors in Cleveland.

Fortunately, there are at least 4 simple ways to acquire investment properties even with bad credit.

These 4 Ways Describe How To Buy Investment Property With Bad Credit For Savvy Investors In Cleveland

Strategy #1. Use the money you already have. Many investors have money they may not even realize. For example, you might have equity in your home or business that you can borrow against, which you might not need an additional loan. Or you might have money in your IRA or 401(k) that you can invest with. Few people realize that this is even possible – but it is! If you want to talk to us about how to invest with your IRA or 401(k), just give us a call at 440-209-1563.

Strategy #2. Use seller financing. Seller financing is when you acquire a property but instead of getting a mortgage through a traditional lender (like a bank) you instead get financing from the seller themselves. You simply pay the seller your “mortgage payment” every month until the house is paid off. The seller may not require good credit because ownership of the house would revert back to them if you default on your financing. (Note: We Offer Seller Financing On Several Of Our Properties)

Strategy #3. Partner with another investor. One very common strategy is to find another investor who has good credit and then partner with them. You combine their good credit with your skills, sweat equity, network, or some other contribution, and you split the cashflow between you.

Strategy #4. Find a cash buyer. This is an advanced way if you’re looking how to buy an investment property with bad credit for savvy Cleveland investors. A cash buyer is someone who has access to the money right now, perhaps sitting dormant in an account or maybe in one of the ways described above, such as in an IRA or 401(k). In some situations, you can acquire a property and then sell the property to them without using any of your own money (this is sometimes called “wholesaling”).

There are other ways, too, but this is a great way to invest in real estate even if you have no credit.

Summary: How To Invest With No Credit

No credit? No problem. Real estate investing is one of the ways that you can invest even if you have no credit or bad credit. You just need to get creative, connect with the right people, and put deals together in different ways than you might be used to… but credit is not needed.

If you want to talk to us about how you can invest in real estate even, no matter what kind of credit you have, click here and get in touch.

About davidhelmick

My passion, Real Estate. My past includes nine years asa mortgage broker and Real Estate Investor. My business model is simple. To provide Real Estate to those who long for the solid returns the market or other investments are now failing to do. At the same time, I seek out Real Estate owners who struggle to find a buyer for their property. By bringing both the Investor and Real Estate together, a solution takes place. When I'm not working, I can generally be found outdoors. My passion is biking and a solid game of hoops. While living in the Cleveland area, which provides all four seasons, I have purchased an indoor bike trainer which I ride while watching warm events. Specialties: Action

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