Need a plan to raise $80,000 in 2 months

7 Replies

So I am basically out of savings while I sit here in Orlando Florida waiting for a few months already trying to figure out my first move in real estate.

I quit my job of 12 years in New York because of my dreams of being an investor.  I thought moving to Orlando, a growth market, was the smart strategic move. But I'm not doing anything because of analysis paralysis.  I have been spending the time by getting my RE license.  My investment capital sources fell through unfortunately.  Suddenly though I find myself in an emergency situation where I have less than 2 months to raise $80,000. If I can't then a friend might die.  

I am open to any strategy at this point.  I need ideas from anyone willing to share with me.  I am hoping for some constructive feedback.

Thanks

Try wholesaling out of state 

It looks like you need to first stabilize your financial situation regardless of your interest in real estate.  Get a paying job again.  You need to focus on basics at this point, not real estate: food, clothing, shelter.  Once those are in place, save your money towards real estate investing if that is what you want to do.

Well that's an idea. I was thinking more along the lines of a hard money loan and then flipping a property but that might take too long.

Originally posted by @James Mc Ree :

It looks like you need to first stabilize your financial situation regardless of your interest in real estate.  Get a paying job again.  You need to focus on basics at this point, not real estate: food, clothing, shelter.  Once those are in place, save your money towards real estate investing if that is what you want to do.

That was the plan.  Except now an emergency has come up.  My friend has made a poor decision based on fear because of a medical condition.  I am forced now to try to do in two months what I originally planned to do in 2 years.  I will need to get myself into debt then dig myself out after the fact.

Originally posted by @Conway Churaman :

Well that's an idea. I was thinking more along the lines of a hard money loan and then flipping a property but that might take too long.

Hard Money Lenders (HML) like Hard assets to serve as collateral to secure any loan; what would serve as collateral in your case?

Find a good deal and you might get a HML to fund the acquisition, but that wouldn't exactly put the cash in your pocket, which it sounds as if you need.

Originally posted by @Steve Babiak :
Originally posted by @Conway Churaman:

Well that's an idea. I was thinking more along the lines of a hard money loan and then flipping a property but that might take too long.

Hard Money Lenders (HML) like Hard assets to serve as collateral to secure any loan; what would serve as collateral in your case?

Find a good deal and you might get a HML to fund the acquisition, but that wouldn't exactly put the cash in your pocket, which it sounds as if you need.

 To be honest, I am in an absolute emergency because I don't want to lose my friend.  However, at the same time I don't want to miss out taking advantage of any good deals I am able to find even if it takes several months to set up.  Heck, If I knew what I was doing I would get into wholesaling storage space companies. The finder's fee on one of those deals are huge!  And they are all over Florida.  The plan was and is still to get an hourly position in something related to the RE industry that would pay my bills until I can wrap my head around the market and get a few deals under my belt.  Now I am forced to do something crazy and immediate to get cash in my pocket now. I would like to see this thread continue.  I have a feeling I might see here some crazy intense strategies posted here. Nothing like pressure to focus the mind.

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