Jerry Gardner

Hi Tim,

Please check the link below. My seller is a southern California resident with properties in Houston that already cash flow with 20% or less down, and is able to put in certain guarantees. All of the properties (he owns approximately 45 sfrs in the Houston/Woodlands area) are locally managed and rented, all built in 2005, and were managed remotely from Southern California using the local agency. I am posting more on the site that I've linked you to, but these properties are indeed worth looking at because one of the guarantees is that they are rented. Prices range from $134,900 to $165,900, 3 and 4 br, rent ranges from $1,150 to $1,395. He will also guarantee reduced property management fees for a fixed period. Please let me know if you are interested. - Tue Apr 29 2008, 16:32

Hello Brenda,

It looks like you have quite a few good answers below, but I want to add a few items that I hope will be helpful. Depending upon the type of loan you're looking for, it isn't always that the credit score is bad, but more why it is the way it is. Example, if you incurred bad credit due to job loss, illness, death in the family, or other things like that, FHA and other local agencies could still work with you but it would require proof of the problem and other documentation. FHA is a great resource, and even has programs that would allow you to buy a home while in Chapter 13, provided certain things are met, including the trustee approval.

I have included a link to the El Paso Housing Authority which has the HACEP program for low income folks who want to purchase a home, if that is why your credit is bad. And I would recommend talking with them first before spending money on credit repair because not all of them work but can cost a lot. And if you're moving to another city in Texas, check with their housing authorities to see what they offer, as an example Houston offers a program similar to El Paso's, and they work in conjunction with FHA.

I hope this helps, and I wish you the best. Feel free to contact me if you have any other questions. Take care. Jerry G. - Tue Apr 29 2008, 16:19