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By Peter Vekselman

 If you’ve personally been touched by the pain and embarrassment of bankruptcy you may think that your life will never be the same again. You may also believe that real estate investing is a thing of the past because lenders will forever consider you to be damaged goods. Fortunately, life does go on and you will recover from this. However, it will take time before some lenders will consider lending you money for your real estate investing activities, although you do still have options. Here are some steps you can take today to begin the recovery process-while you invest.

Credit won’t be as readily available to you, so the first order of business for you will be to try to quickly build some positive credit. There are several good ways of doing this. Here are just a few:

Secured Credit cards-After a bankruptcy your personal credit rating is in the tank. Most traditional credit card companies- even those that charge an annual fee, won’t want to touch you right away. However, it won’t take long for them to be willing to take a chance on you. You can grease the credit wheels by getting a secured credit card, which is simply a savings account with the issuing bank with a deposit equal to your credit line. By requiring this deposit, the issuing bank has some assurance that they’ll receive the lion’s share of their money in the event that you default. You’ll want to utilize the card regularly and pay at least part of the balance off each month in order to generate positive credit report entries on a monthly basis.

Personal loans-By going to one of your local banks and explaining that you’re trying to re-establish credit after a bankruptcy you should be able to convince your banker to lend you a small amount of money, say $1,000 or so, backed by a corresponding savings account or Certificate of Deposit (CD) account. You’ll be paying a small amount of interest for the privilege, but the expense you’ll incur will be well worth the points your credit score will gain.

Credit aging-Do you have a family member or a friend that would be willing to add you as an authorized user on their credit card account? They don’t need to actually give you a card to use; the simple act of adding you as an authorized user will give you the benefit of “hitchhiking” off of their payment history.

While you’re implementing some of these credit rebuilding strategies, you should also be actively investing in real estate. Traditional avenues of financing will be off-limits for awhile, but there will be numerous avenues you can utilize that will make real estate investing not just a possibility, but a certainty:

Bird Dogging-As a bird dog you work as a real estate scout, doing the leg work of locating available properties for investors who will actually close the deals. You won’t be placing these properties under contract-your job simply involves sniffing these properties out and letting the investor know what you’ve located. When he or she closes the deal you’ll receive a “finder’s fee” for the project, which puts cash in your pocket and gives you practical, real-world real estate investing experience.

Wholesaling-This is a step up from bird dogging. You take the same steps of locating the available properties, but you also incur more risk by placing the property under contract and “selling” your contract to another investor for a profit. Depending upon how good you are at this, you can realize a substantial income by wholesaling.

Partners-Your credit may be badly bruised temporarily, but if you stay motivated you can find partners with cash to lend on a real estate transaction. You can utilize partners for their cash for a short term loan for buying distressed properties at rock-bottom prices, rehabbing them quickly, and re-selling them for below market prices for a quick profit- and a fast payback. There’s also a possibility that you can find investors that are looking for an ownership stake and a portion of the cash flow generated by properties in which you invest. You can locate prospects among your family and friends, your local REIA meetings, or even by advertising on Craig’s List.

Private Money lenders-You can also locate private individuals that have cash they would like to invest in real estate. If the deal is sweet enough, they’ll lend you money for your real estate investing activities in exchange for an equity stake or a quick payback.

Hard Money Lenders-As your credit score increases you’ll also be able to turn to hard money lenders for financing. The terms aren’t very good, but if you’ve found a truly good deal on a property it won’t matter. Plus, these loans will show up on your credit report which will allow you to qualify more quickly for institutional financing.

The steps you can take to rebuild your battered and bruised credit report after a personal bankruptcy are limited only by your imagination and your willingness to work hard in achieving your real estate investing dreams. So go ahead, get moving today and begin the process of rebuilding your credit score and building an investment portfolio. If you have limited real estate investing experience or you’re not sure what other techniques you can utilize in coming back from financial disaster, consider finding a good real estate investing coach who can show you the ropes and teach you a multitude of techniques that can ramp up your career and have you on the right track in no time. Success is yours for the taking, but you need to get started to reap the rewards. Get started now!

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management

company. To learn more about Peter please visit

http://www.coachingbypeter.com.

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A Guide to Commercial Real Estate in Provo
By Art Gib

 Business owners are buying real estate in order to relocate their businesses, or start new ones. Provo has proven to be a great place to own a business due to the economy along with the wide variety of employees. Businesses are able to set up residence and then grow because of the conditions. That has made commercial real estate a hot commodity in recent years.

One of the reasons commercial real estate is so popular is because of the funding opportunities the city makes available. With the Business Development Corporation, new businesses can apply for funding and resources. Once they find their commercial real estate, they can get the help of the corporation so they can grow and thrive in the market.

There are conditions that must be met in order to get funding through this corporation. New businesses need to show they will provide jobs to area residents, and they also need to prove they are providing a product or service the community needs. Many businesses have found their commercial real estate and then received help from this corporation.

Another reason business owners are looking at area real estate is because of the low unemployment the area offers. Areas of low unemployment are often the best to buy commercial real estate because the economy is in good shape.

Businesses are more apt to stay in business in areas that are enjoying a good economy. Business owners know they are getting a good investment when they buy their real estate and run their offices out of the city.

The great diversity of the businesses is another reason commercial real estate is being bought in large amounts. Different industries are able to come in and compete because of the wide variety of offerings.

Currently, there are many blue collar and white collar industries in the area. Because of that, there are many different types of employees. Real estate is purchased for construction businesses as well as information technology businesses. The area does not limit the growth in regards to business and industry.

The tax rates also keep businesses booming in the area, which is another reason that real estate is so hot for new businesses. With the low taxes available, people keep coming back to the area to buy their goods and get their services. This allows for businesses to succeed. The businesses themselves also benefit from the low tax rates when it comes time to pay their local taxes.

Real estate is very popular right now, but businesses who are looking to move to the area can still find the property they need to set up their business. The real estate market has not been as damaged as many of the others around the United States, so businesses know they are safe when they purchase property in the area. Those looking for real estate can take advantage of the many sources available to find the listings they need to move into the area.

Art Gib is a freelance writer for PayneSmootGroup.com (http://www.paynesmootgroup.com), a website featuring Provo Real Estate.

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