No money bad credit - flipping & how to prepare
Hello BP, hoping to get some advice / input from experienced fix and flippers on where I need to be in order to begin a flipping business.
Situation: Terrible credit, living check to check, running our own handyman business but currently only earn enough to pay bills with little to nothing left over (new business). I have a 2 year old, a fiance, and another baby on the way. Our business is our only source of income.
I have been thinking about closing my business and taking a regular 9-5 to work on my credit issues and save as much money as possible. I do not enjoy working for others in the traditional sense but will do it if it is my quickest road to starting in REI.
I have been doing a lot of reading and listening to podcast and it appears that there are many who begin with little or no money which gives me hope but it is unclear what their financial situations were when they started.
My background: Construction Trades, office management, Project coordination for large scale construction.
Her background: administrative positions and Associate degree in interior design
What is your opinion on us getting started given our current financial and credit situations? Would a hard money lender work with us?
Your thoughts?