Real Estate Post Chapter 7 Bankruptcy

PetyrBaelish · ‎07-12-2022

Has anyone done real estate investing after bankruptcy? I wanted to look at conventional loan products to start doing single-family rentals. I was interested if anyone has done this successfully after bankruptcy. Any tips or general information would be greatly appreciated.

MileHigh96 · ‎07-12-2022

@PetyrBaelish wrote:
Has anyone done real estate investing after bankruptcy? I wanted to look at conventional loan products to start doing single-family rentals. I was interested if anyone has done this successfully after bankruptcy. Any tips or general information would be greatly appreciated.

If you are going to go the mortgage route to finance the investing, there is a waiting period for each type of mortgage:

BK7 discharged - 06JUL2021
Loans:

Revolving Accounts (in the order they were opened):

Ally Everyday Cash Back Mastercard (converted from Ollo Platinum Rewards Mastercard) $5700 CL (opened 7/21/21)

Mercury Mastercard $5060 CL (opened 7/23/21)

Upgrade Triple Cash Rewards Visa Card $17,500 LOC (opened 8/4/21)

PenFed Pathfinder Rewards $6000 CL (opened 11/9/21)

Dell Pay Credit (converted from Dell Financial Services account) $6500 CL (opened 12/6/21)

Capital One Kohls Visa (converted from Kohls store card) $4050 CL (opened 12/13/21)

Upgrade Cash Rewards Visa Card $7,000 LOC (opened 3/17/22)

Capital One Quicksilver MC (PC'd from a Platinum card) $3200 CL (opened 5/6/22)

Capital One Savor One MC $5000 CL (opened 10/20/22)

Merrick Bank Double Your Line MC $2500 CL (opened 11/1/22)

NFCU cashRewards Plus $36000 CL (opened 3/17/23)

Affinity FCU Pure Rewards Visa $1500 CL (opened 5/18/23)

Bread Cashback AmEx $15000 CL (opened 5/23/23)

Canvas Select MC $3000 CL (opened 5/25/23)

NFCU Go Rewards Visa $27000 CL (opened 6/16/23)

Petco Pay Mastercard $5100 CL (opened 6/29/23)

Barclays GM Rewards Mastercard (converted from GS My GM Rewards Card Mastercard) $5500 CL (opened 8/1/23)

Denver Broncos Extra Point Visa $11000 CL (opened 12/8/23)

NFCU More Rewards AmEx $17000 CL (opened 2/8/24)

Ally Unlimited Cash Back Mastercard $3000 CL (opened 4/3/24)

Service Credit Union Everyday Visa $2500 CL (opened 8/19/24)

BECU Cash Back Visa $16000 CL (opened 8/21/24)

Best Buy Platinum Visa $4000 CL (opened 10/17/25)

Liberty FCU Platinum Credit Rewards Mastercard $12000 CL (opened 11/5/25)

Capital One T-Mobile Visa $15000 CL (opened 11/7/25)

Lands' End Visa $5300 CL (opened 11/13/25)

Associated Bank Max Cash Preferred Visa $500 CL (opened 11/17/25)

Affinity FCU Cash Rewards Visa $7500 CL (opened 11/18/25)

Closed accounts:

Mission Lane Visa - first starter card after discharge (opened 7/7/21 - closed 4/1/23)

Capital One Quicksilver MC (downgraded from a Walmart Rewards MC and transfered CL to older QS card) (opened 11/4/22 - closed 04/09/25)

Best Egg Visa (opened 05/17/22 - closed 04/14/25)

6/6, 6/12, 11/24 new accounts
TCL: $219.4K

webhopper · ‎07-15-2022

If there were extenuating circumstances you could buy a multiplex using an FHA loan and then move into one of the units. But you would have to be willing to move!

FICO 8:
Goal: Gardening!