My boyfriend and I want to start flipping houses but we both have bad credit, what can we do?
-
Recent Posts
- Can you really make alot of money flipping houses?
- How do you start Flipping Houses?
- What good/bad experience has anyone had with flipping houses?
- Should i start flipping houses while going to university?
- how does Capital Gains Taxes work when you are flipping houses?
- Is flipping houses a smart way to make money?
- Whats the best way to get into Flipping Houses?
- Is there an ethical problem with flipping houses?
- Where to get a business license(flipping houses business) in Austin, Texas?
- Flipping houses in the milwaukee area?
-
Topics
7 Responses to “My boyfriend and I want to start flipping houses but we both have bad credit, what can we do?”
March 25th, 2008 at 9:41 am
Pay your debts off and stop typing in all caps is the first step.
No bank is going to give you a loan with bad credit right now.
March 26th, 2008 at 2:59 am
You out of luck
Should have flipped houses in 03 and 04 when the banks would loan you money if you could fog a mirror.
Today the banks have tightened lending standards and are demanding a large down payment, with excellent credit.
Banks are not going to loan you no money down with bad credit in this environment.
Sorry
March 26th, 2008 at 9:32 am
Have the Seller hold the mortgage. Question: Even if the Seller holds the mortgage, how are you going to pay for the materials necessary for the re-model if you have bad credit…. Also not a good time to do flips. A lot of Flippers are renting their house because they can not sell them in the current market. Houses won’t start to turn up for at least another 18 months.
March 29th, 2008 at 3:55 am
mmm….clear up the credit….the mkt right now sucks, so flipping under any circumstance is down….unless you can find that miracle place that’ll still back you(once your cleared up), Id advise you to wait it out and do something else or else you could dig your hole deeper, quick!
March 29th, 2008 at 6:07 pm
should’ve gone to free credit report .com
April 1st, 2008 at 6:33 am
Give me a call, I can help @ 416 891 1500
July 16th, 2009 at 8:22 am
find a hard money lender. interest rates are higher, but no credit check is done and if you get the right property, you pay off the mortgage (that you got with none of your own money) before paying too much interest. good luck!
Leave a Comment