Buying Real Estate with Business Credit
Since I am gotten into the business credit industry I have gotten more questions than I will like to admit about buying real estate with business credit. A couple years ago it was possible, but extremely difficult to get a commercial mortgage with no PG, and it is simply impossible to get it now. Strangelyenough though, it may be easier than ever to buy real estate with business credit now.
You can buy homes cash. Yes, you read it right, with cash. This will mean that you will pay for the house in full without getting a mortgage. Basically you will have to find homes that are cheap enough to acquire enough business credit to buy it cash and still have the ability to afford the monthly payments. It seems that Detroit is giving us this opportunity. I am not saying that we could purchase homes, rent them out and sell them in a couple months and make a killing, but what I am saying is that Detroit lends for the ability to own real estate for a very affordable price.
I do not claim to be a real estate specialist but I have seen homes listed in Detroit for as little as $8000 which needed as little as $1000 in repairs.
Bad credit score can be one of the biggest difficulty and hindrance for real estate investors. If you are a real estate investor along with FICO credit score under 600 then credit repair is very important for your achievement. As without a good credit score, it is almost impossible for the investors to attain the fixed financing. Though, do not let your bad credit status stop you from being a Real Estate Investor. And the good news is that you can easily recover and improve your score.