Can't Get A Loan Because of Bad Credit?Here is a viable alternative: Are you trying to find financing for a home or a commercial property, but you have blemished credit, or are you unable to prove your income? Usually, we seek financing from the traditional institutions such as banks, etc.
The problem here is if you don't qualify for financing because of past credit problems or maybe you are self-employed and have difficulty in establishing your true income which again disqualifies you from the traditional sources of financing.
The method discussed in this article is what I call the investor method.
There are other reasons for looking for financing in non-traditional areas.
Are You Looking For A Discreet, Private Residential Or Commercial Property Acquisition? There are a growing number of people with good credit who would like to acquire residential or commercial property, but who need a discreet, private way of doing so.
They are not doing anything illegal, they just want privacy for whatever reason.
While the reasons for such property purchases are beyond the scope of this article, they include third party acquisitions, change-of-life acquisitions, legal tax considerations and others, and are usually done in conjunction with one's legal/accounting advisors or for other reasons.
In any case, the investor method would be beneficial in this case also.
So What Is The Investor Method? The idea here is really simple.
You can think of the acquisition of any residential or commercial property using this method as involving two closings.
There are two closings involved because the acquisition of the property involves an investor and you.
First of all, why would an investor want to get involved in the first place.
Well, the investor wants to make money off of the property acquisition of course and usually charges for his involvement.
What is the role of the investor? Rest assured that the investor will do his due diligence which includes looking at a qualified appraisal of the property.
The investor will be more interested in the property than your credit history which isn't even considered.
If the investor feels it is a marketable property, he will proceed with the property acquisition.
The investor either has an enviable credit score or money to invest.
With the investor's great credit history, he simply acquires the property you want with conventional financing - this is the first closing.
The second closing involves turning the property over to you at the second closing.
To protect the investor and yourself , the property is put into a trust and you are listed as first on the trust; thus, giving you primary legal control over the property.
The only way you can lose the property with this method is if you don't pay the monthly installments.
  As you can see, this method involves no credit or income verifications on your part because the investor deals with the traditional financing end of it.
Of course, this method should always be done in conjunction with your real estate agent or attorney.
Are there extra fees and costs? Yes, this method does involve extra fees and costs, but total out-of-pocket cash usually isn't that much more than traditional financing.
My website lists these fees at: swmFinancial.
com