Episode 6 of the Grit, Grace & Growth Podcast

Description:

In this episode of Grit, Grace, and Growth, Laura Navaquin tackles a challenging question: “Can I invest in real estate with bad credit?” The answer is both yes and no. Laura discusses the realities of investing with a low credit score and emphasizes the importance of understanding your financial habits before diving into real estate. While creative financing methods can offer solutions, Laura urges listeners to first address any underlying issues that led to poor credit. This episode is a must-listen for those wondering if real estate investing is possible despite a less-than-perfect credit history.

Key Topics Covered:

1. Understanding Credit and Real Estate Investing:
   • Overview of the impact of bad credit on securing traditional mortgages.
   • Discussion of how bad credit affects your ability to invest in real estate.
2. Creative Financing Solutions for Bad Credit:
   • Reintroduction of strategies like seller financing, partnerships, and wholesaling.
   • How these methods can be used effectively even with poor credit scores.
   • The importance of networking and finding motivated sellers who may be more flexible with financing terms.
3. The Reality Check: Should You Invest with Bad Credit?
   • When it’s better to wait and improve your credit score before investing.
   • The risks of jumping into real estate investing without addressing poor financial habits.
   • Reflecting on the reasons behind your bad credit and taking steps to improve your financial health.
4. Questions to Ask Yourself:
   • Have you made efforts to improve your credit score?
   • Are your financial habits aligned with successful real estate investing?
   • What does your budget look like, and can you realistically manage additional financial responsibilities?
5. The Bigger Picture:
   • Understanding that a low credit score is often a symptom of larger financial issues.
   • Why it’s crucial to resolve these issues before taking on the complexities of real estate investing.

Episode Quotes:

• “Bad credit doesn’t have to be a barrier to investing in real estate, but it’s crucial to understand why your credit is poor in the first place.”
• “Real estate investing requires discipline and sound financial habits—if your credit score reflects poor money management, take a step back and address those habits first.”
• “Creative financing can open doors, but don’t let it be a band-aid over bigger financial issues.”

Resources Mentioned:

• Credit.com: Learn more about improving your credit score here.
• Dave Ramsey’s Financial Peace University: Explore ways to get your finances in order here.

Connect with Laura Navaquin:

• Website: LauraNavaquin.com
• Instagram: @LauraNavaquin
• Podcast: Grit, Grace, and Growth on Apple Podcasts, Spotify, and Google Podcasts.

Call to Action:

If you found this episode helpful, don’t forget to subscribe to Grit, Grace, and Growth, leave a review, and share it with someone who’s considering investing in real estate. Join us next time as we continue to navigate the ins and outs of real estate investing, personal growth, and financial empowerment.