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Investing in Real Estate with Clayton Morris | Investing for Beginners

845: Q&A: Can I Invest with a Foreclosure on My Credit Report? - Episode 845

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

Investing, How To, News, Education, Business, Business News

4.11.1K Ratings

🗓️ 23 May 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Is it possible to invest in real estate with a foreclosure on your credit report? And if so, what steps do you need to take to secure a loan? That's the first question I'm answering on today's Q&A episode!

On this episode, I'm answering three great listener questions on investing with a foreclosure history, putting properties into legal entities, and the best strategy for leveraging an active 401k. Click play to hear my answers to your questions on this episode of Investing in Real Estate!

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome into the investing in real estate show. I'm Clayton Morris, longtime real estate

0:09.8

investor and on this show we answer your questions.

0:13.6

It's our Q&A episode so you can fire up your real estate or financial or tax related questions,

0:19.8

whatever it happens to be, and we will attempt to answer it here on the show. You can do so by going to our

0:23.9

website just go to Morris Invest.com there's a microphone icon on the right hand side of your screen and you can ask us

0:29.5

any questions you like again that's Morris Invest.com

0:32.6

M-O-R-R-I-S.

0:34.4

We've got tons of great resources over there for new investors,

0:37.8

new and old investors,

0:39.4

for you to dive into.

0:41.9

Okay, so without further ado, let's get into today's questions.

0:44.8

We got a couple of them here.

0:46.1

Let me play the first one.

0:47.4

I think this one is from Allison.

0:49.2

Oh, yes, my name is Allison.

0:51.1

I'm wondering, is it possible to get a mortgage if you have a foreclosure on your

0:57.7

credit report? We have one from 2018. We have since gone an FHA loan for our primary residence, but we are interested

1:06.5

in getting into the investment real estate world, but I believe we have to wait another

1:11.8

four years.

1:13.0

Thank you.

1:14.0

So it's interesting.

1:15.0

So you were able to get an FHA loan given the fact that you had a foreclosure.

...

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