Hard money lenders offer easy loan options
You may think that real estate investment is beyond your grasp thanks to your credit score or financial situation. In hot markets like Portland, Oregon and surrounding areas, it’s a shame to miss out.
All is not lost. We’re taking a look at the options when you’ve got less than perfect credit.
The first step is to clearly identify the “whys” of your credit situation. Bad credit can come about for any number of reasons beyond your control, from job loss to medical emergencies to the state of the economy. But other scenarios are simply the result of not–so–terrific choices or lack of knowledge.
Taking a hard look at your credit picture and habits and committing to positive change is a must for any successful real estate investor.
Investment in real estate will not solve your poor credit. Rather, it can help you move forward once you’re ready to sacrifice old spending habits and fully invest your time and energy.
If you’re on solid footing and working to improve your credit score, here are four ways to invest in real estate:
1. Hard money lender / Private money lender: Get a fast cash loan when conventional lenders won’t say “yes” to your credit history.
2. Partnership: Join forces with another investor and let each of your skill sets shine to your bottom line advantage.
3. Seller financing: Make monthly payments directly to the seller. Best scenario? When the seller has no existing mortgage.
4. Wholesaling: Find a terrific deal, put it under contract, and make a quick “flip” to a cash buyer for a higher sale price.
Invest Sooner for a Greater Return
The sooner you commit to building healthy credit and joining the real estate investment market, the greater the return you’ll see. As a Oregon State hard money lender with over 30 years’ experience, we understand the challenges faced by investors with less than perfect credit. Call our Gregory M. Russell team to learn more about how a hard money loan can help you on your way to a better financial future. 1-888-477-0444.