Can I buy a house if I have a Bankruptcy?
Hi,
I recently had to file bankruptcy because of something out of my control. A Xwife thing. Anyway I want to buy a house for a rental.
Is it possible if you have a Bankruptcy. I already own a house that I live in. I am a single dad raising 4 kids and thought real estate might make us some extra money.
What do you think?
Thanks for you help.
Christian
Christian, By using creative strategies even if you have the experienced a bankruptcy does not mean you can not buy homes until after three years. You might not be able to use the conventional lenders until after 2 to 3 years after the bankruptcy is filed. There are many folks who asked me this question and my reply to them is a person can buy properties regardless by applying the principles or strategies that are "creative in nature" not worrying about your credit standing. Two excellent creative strategies that one who has filed a bankruptcy can use is 1. Lease Option and 2. Owner Financing. There are over one hundred strategies that you can use to buy properties creative in nature. You have to begin to "think creatively" today by reading books on real estate investing and asking questions and learn to practice using the knowledge of using "creative strategies" to buy homes.