BiggerPockets

Just filed for BK-7 and pending foreclosure on my home. I have been unemployed for 15 months and living off 401 funds which are almost gone. Birddogging tasks are not working .....

Maybe I can find a lease option property and lease to special needs group such as those Nick Sidioti suggests

Any other options ????
Any response is appreciated ..... :cry:

Agree with Jon and to add, spening your 401k to live off is not a wise decision in my professional opinion. You are getting hit with taxes + 10% penalty for early withdrawl, plus it will take that many years longer to accumulate those lost retirement savings.
I would get a job at McDonalds before using retirement funds to live off.
Of course that is just my opinion.

This is what I would do.

Go the library, and check out a book on Sales or Persuasion.

Open the newspaper later and contact sales jobs available. If you paid attention to your sales book, you will have no problem persuading them to give you a job.

Once you have an income in sales, use your experience to hone your skills as a salesman.

Continue to study real estate as you make your money at your job. Then start trying to earn an income in spare time in real estate.

One thing you can never do is give up. That is truly the only way you can ever fail.

Originally posted by Roberto Jones

Just filed for BK-7 and pending foreclosure on my home. I have been unemployed for 15 months and living off 401 funds which are almost gone. Birddogging tasks are not working .....

Maybe I can find a lease option property and lease to special needs group such as those Nick Sidioti suggests

Any other options ????
Any response is appreciated ..... :cry:

How about trying to find someone to trade your home for some investment property with cash flow ( hood property) and take what ever job u can for know to level your downward spiral and regroup and make a long term plan and do whatever it takes.

The trade deal may be a long shot - but thought I'd throw it out.

Mark

Start your own landscaping company for the time being. I'm sure you have a lawn mower.

All you need to do is pound the pavement, send out flyers in the mail and spend couple hundered on an ad in the newspaper for 3 or 4 weeks.

I know it sounds crazy but you can probably charge $30-50 a lawn, thats the going rate up my way where the lawns are fairly big. Even if you have to drive to a wealthier community.

When I was 16 in HS, just got my first car I had 7 customers and didn't even try hard to get them. They were all within 2 miles of my house. I charged $30 a lawn, under the going rate of $40-50 from the big companies. Thats $210 a week, in cash, under the table. each lawn took about 30 mins. So I was making about $60/hr.

The following summer I hired 2 friends and charged about $40 a lawn. With about 15 customers. I paid them $30 to mow and made $10. So now if I mow a lawn I get $40 + $10(friend)) + $10(friend). I just made $60 for myself in roughly 30-40 mins.

Then you can pick up bark multching jobs, raking, spring, fall cleanups...etc.

I know it sounds foolish to go back to mowing lawns. But if you are really struggling and want it bad enough (walk door to door) you will get plenty of customers. Even if you don't hire someone you can reasonably do 5 lawns a day without killing yourself. 5*40 = $200 a day...under the table.

It takes little skill to mow a lawn and you can still focus on RE on the side because you'd have plenty of time. Its not a glorious way to make money but it beats working at some retail store for $7.25/hr.

You can do it!

I also think picking up a technical skill at a college is a good idea, but that isn't immediate money and it sounds like you could really use some...NOW!