While it's true that real estate investment can be a lucrative and rewarding business once you've gotten the ball rolling, getting out of the gate can be a challenge for many people. If you happen to have spotless credit that makes you any lender's dream, then you're at an advantage. However, in this day in age you're more likely to be dealing with a few credit issues that can make it tough to qualify for the loans you'll need. Even so, it's important to understand that the situation is far from impossible, even for those with truly bad credit.

Do what you can to polish your credit.

When looking into any sort of loan, it's always a good idea to take a look at your credit and look for ways you can clean it up a little. Even small improvements can drastically boost your appeal as a potential borrower. Order a copy of your free credit report and go over it carefully. Anything that is either wrong or not valid should be challenged and eliminated from your account as soon as possible.

You should also look for things on the report that it's within your power to pay off right away. Pay down existing credit card debt if you can and look into possibly consolidating some of what's left over. Close accounts that you don't need or use.

Consider hard money lending.

Standard property loans are far from your only option when it comes to securing funding for your real estate investment project. People who might not qualify for the typical options from the commercial banks because of reasons like bad credit should consider looking into a hard money lender.

Also called asset-based lending, hard money lending involves lenders that are much more interested in the value of the properties and neighborhoods that you're looking to work with than they are your credit score. In fact, there are quite a few who aren't interested in credit scores at all and choose borrowers with their gut instinct. That said, a good proposal and some killer presentation skills when it comes to convincing the lender that your project is a good risk may be all you need.

Choose your lender with care.

Don't simply assume that because you have bad credit, you should automatically jump on the first lender that you make contact with. Hard money loans as a rule come attached to factors like short time frames and interest rates that are much higher than average. However, some options are still going to be better or come attached to fairer terms than others.

If bad credit is your issue, then you may also want to prioritize lenders that aren't at all interested in your credit rating. It's always beneficial for those serious about real estate investment to look for lenders they can see themselves building an ongoing relationship with over time as well. Don't be afraid to shop around and use your own gut instincts to tell you which of your options is the best possible fit.