What Would You Do?
I've been studying real estate for about a year now so I'am a newbie but I started a Real Estate Corp, about 7 months ago but I have'nt bought anything yet. I have friends and family whos willing to co-sign because of my personal credit but a realtor of mine says to do it without co-signers, he says after I buy the first house in my name alone that the next one will be easier. He also been saying that a good mortgage broker could help me alot and that I should just move slow. I dont know if to try to get my credit together and wait or if to go ahead with the co-signers.
Someone please help me out!! :cry:
The longer you wait the more that pass' you by. You will never be able to recover the last 8 months worth of opportunties. Go after it!
The only reason I see to wait until your credit will allow you to get into a house is in the event like the rest of us you have a learning curve. If you are going to make costly mistakes, better your credit then your family members.
You might try bird-dogging first to see other people make some big money first. See if you can tag along with some people that do deals to get your questions answered. For motivation, there are a few books out there, one is Russ Whitney's Building wealth book.
5millionmore;
I'd say go for it and don't wait. People who wait to long get analysis paralysis. Just do it and get the first one over with. Poor credit can be overcome by going to a hard money lender at first.
Once you do it the rest will get easier.
Hey Nhralph,
Thanks for the advice but how do I find a hard money lender?
I have seen the term "Hard Money Lender" used many times on the forum - but what exactly does it mean.
Obviously it is alternative financing to a bank - Another investor? Partner? Loan attached to property? ? ? ?
Thanks
go 2 top of screen click on lenders.,and dont wait my credit was so-so.and i got loan w/5%dp youre
in good spot 4 appartment and motivated sellers.