All Discussions Tagged '#privatemoney' - Real Estate Finance2024-03-28T14:58:28Zhttps://realestatefinance.ning.com/forum/topic/listForTag?tag=%23privatemoney&feed=yes&xn_auth=noNo credit, low income, think you might have found a good property but don't have a clue what you are doing???tag:realestatefinance.ning.com,2015-07-31:6517464:Topic:2392882015-07-31T17:10:39.834ZPatrick Hardinghttps://realestatefinance.ning.com/profile/PatrickHarding
<p>I took about 15 minutes to surf this site this morning and was very, very impressed. There is a HUGE variety of finance options here. I have honestly never seen a lending site as useful as this one! </p>
<p>Unfortunately, one thing jumped out at me: So many people with no money, little or no income, and no credit or experience think they can be a real estate investor because they see a $300k property that can be bought for $240k (just an example). If you have bad credit (which means you are…</p>
<p>I took about 15 minutes to surf this site this morning and was very, very impressed. There is a HUGE variety of finance options here. I have honestly never seen a lending site as useful as this one! </p>
<p>Unfortunately, one thing jumped out at me: So many people with no money, little or no income, and no credit or experience think they can be a real estate investor because they see a $300k property that can be bought for $240k (just an example). If you have bad credit (which means you are not a responsible person), low income, and you are looking to buy an investment property with someone else's money, GO AWAY AND STOP WASTING EVERYONE'S TIME!!! Lenders look at this and laugh. The only Broker that will touch you with a ten foot pole is a Broker that has never closed a transaction. What are you expecting, someone to throw money at an inexperienced, irresponsible person, and let YOU own the property? Nobody needs you to find them a property, we can find our own, and well-paid bird dogs specialize in finding the deals that real estate professionals do not.</p>
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<p>I'm sorry, this is a bit of a rant, but why waste yours or anyone else's time by making these posts on this or any other website? Instead, start paying your bills so you can fix your credit, get a better job so you have a verifiable income, put some money into the transaction, start small and build yourself some experience so you actually know what you are doing, and then you can buy some properties!!!</p>