is it possible with bad credit but 30k to use to buy lg apt building or are these scams i see

In Buying Property - Asked by brian m. - Jun 18, 2009
Report Abuse
Answer this Question

Answer(s)

Paul S.
Broker/Agent
Glendora, CA

I would say it is a scam. Bad credit today is deadly to the deal.

Jun 18, 2009
Report Abuse
Paul S.
Broker/Agent
Glendora, CA

You might be able to buy into a REIT because the amount you put in is the piece of the ownership you get. Check with the REIT about any credit issues.

Jun 18, 2009
Report Abuse
Al R.
Owner/Investor
Houghs Neck, MA

yes you can buy with bad credit... they are called hard money loans. I'm been using a private lender who allows me to have the seller finance 100% cltv but I still have to cover closing costs. The loan is usually 12 months and has exit fee. I refinance and pay the lender off. I have another sources that lets me buy with very little down if there's a lot of equity in the property.

Jun 19, 2009
Report Abuse
James M N.
Owner/Investor
San Jose, CA

Al R,
I'd like to find out more information about your private lender. Could you please give me some information? My contact: James N. at jnguyen69@sbcglobal.net. Thank you.

Jun 20, 2009
Report Abuse
angela f.
,

Yes I would like some information about your private lender if you are happy to share this info. Y
ou can email me at: angela_forbes2002@yahoo.com.au.. thanks

Jun 21, 2009
Report Abuse
George C.
Broker/Agent
Hopkinton, NH

Yes Al from Hough's neck I too would like to knoe more of your private lender. If you are willing then please email me at Kearsarge1@comcast.net

Jun 23, 2009
Report Abuse
Kyle B.
Owner/Investor
Medina, OH

Al R, I would be interested also. My email is 2twelveproperties@live.com

Jun 30, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question