Inherited money, ready to invest

[Riley]

I recently inherited some money. I want to invest in real estate, but I have bad credit. What can I do ?

I'll be inheriting anywhere from $80,000 to $125,000. I work partime. I want to purchase a three flat for $400,000 to rent out or possible condo out. And I want to purchase my grandmothers 2Flat building for around $125,000 and then REHAB (complete gut) to rent it out also.

What kind of loan should I look for? The properties will be complete investment properties. Im looking to make them my full time gig and buy more properties in the future. I'm guessing the rehab will cost be anywhere from 80,000 to $120,000.

[chane]

Well, the absolute first thing you should do is fix your credit! You can save hundreds of thousands of dollars on interest rates by doing so.

I love your idea. You can make a lot of money, but be patient and get your credit fixed first. Read through our site, send your disputes and validation letters out and make whatever deals with creditors you have to for the accounts that won't come off your credit report.

Make sure you have good credit, then talk with a trustworthy, honest mortgage broker and have him find you the best rates.

[chalu.ediwn]

You can fix your credit now that you have money. There are several services were you can get your credit report. You can dispute any negative credit reports and fix your credit. If not, the banks will screw you with high interest rates.