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Answers (7)
- real estate mike
- Contributions:2001
Someone replied that 677 was low with no debt, I disagree. Solid payment histories with long term debts is some of how people get high 700 scores. Don't even get me started on the debt trap that is our credit system.
- Dana Kolodney, "Dana Kolodney"
- Contributions:191
I would contact Debbie Myers at Platinum Community Bank. 1-8-777-Debbie (1-877-733-2243) dmyers@platinumbank.net
Since you have no debt and your score is a 677 something is not right. She will be able to help you find out why. A 677 score is way low for somebody who has no debt.
Buy your first home owner occupied. 677 will get you 3.5% down and rehab money (FHA203ks). remember you must owner occupy the property if you do it this way.
Additional properties with a 677 will be difficult. Expect 25-35% down. However, Debbie is an expert. She may be able to help you improve your score. She has 30 years experience. And a local REIA sponsor for 20 years.
Since you have no debt and your score is a 677 something is not right. She will be able to help you find out why. A 677 score is way low for somebody who has no debt.
Buy your first home owner occupied. 677 will get you 3.5% down and rehab money (FHA203ks). remember you must owner occupy the property if you do it this way.
Additional properties with a 677 will be difficult. Expect 25-35% down. However, Debbie is an expert. She may be able to help you improve your score. She has 30 years experience. And a local REIA sponsor for 20 years.
- Amanda Wilson, "WilsonAmanda"
- Contributions:1610
Get an experienced realtor in your area--one that will assist you all the way to the bank and one that totally understands your investment needs and can show you the numbers!
- Brittney Bell, "BrittneyBell"
- Contributions:425
What are your requirements for these properties? I am a Realtor in Washington that would be happy to help in anyway I can. With the constant flow of military all around Western Washington rentals around the bases are a great investment.
- FriendshipProperties
- Contributions:783
I'm an Agent and Investor in the New Haven, CT area. The magic formula for most rehab investors is: After_Repair_Value * 70% - Repair_Costs
- sunnyview
- Contributions:25115
If you are looking for financing, I would ask the mortgage board here. they may have tips for you on raising your credit score that might help you get a cheaper loan. You income should make them happy, but multiple properties carry multiple risk for the lender so you have to show them that you are a good risk. You will also need a down payment even with your high income. The lenders can tell you more about the options available.
- Cynthia Morris, "EPHomeSearch"
- Contributions:61
Howdy
I would love to introduce you to El Paso Texas.We will be growing the armed forces by 30000+ and will need more rentals. I can help you purchase properties that will cash flow. Aside from military watch for El Paso to be a major medical and research locale as well as IT. I welcome questions and solicit discussions and inquiries
I would love to introduce you to El Paso Texas.We will be growing the armed forces by 30000+ and will need more rentals. I can help you purchase properties that will cash flow. Aside from military watch for El Paso to be a major medical and research locale as well as IT. I welcome questions and solicit discussions and inquiries
I am looking for a realtor/investor
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