How do I find an investor or get a loan on a home I am going to flip with the worst credit in the world and no money what so ever? With the drop in economy I lost everything and want to start flipping but have no idea where to start as far as loans etc.How do I get a house to flip with no money or horrible credit?
Horrible credit = no house right now. Find someone that could have the means to buy a flip home.How do I get a house to flip with no money or horrible credit?
Home loans are now available to many people for whom they would have been out of the question just a few years ago. You檇 be in much better shape to bargain for better interest rates if you had a more impressive credit history, but if the house you want is the deal you%26lt;!--believe it to be, a bad credit home loan can still work to your advantage.Your best bet in assuming a bad credit home loan is to pay as much cash up front as possible, and see if by doing so you can negotiate a lower interest rate.
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Youl save enough money over the term of the loan to compensate for the sacrifices you had to make in handing over the down payment.
The bad credit home loan can be a win-win proposition for both lenders and borrowers; the lenders, thanks to the higher--%26gt;interest rates, get bigger returns on the money loaned, and the borrowers get a homes in which to build equity, and chances to restore their credit records so that the first bad credit home loans they take will also be the last!
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