Looking to change my life.
Aloha all,
I am in an interesting situation and really want to move towards my dream of renovating/flipping homes.
I am currently a project engineer for a GC. I was recently (2 months ago) relocated to Maui, bought a condo with a USDA 0 down loan and have been working here since. I moved here believing that someone special in my life was coming with me but that "unfortunately" fell through.
I say "unfortunately" because it really woke me up. What am I doing with my life?? I know what I want to do yet I'm not doing it, why? I've been intimidated and crippled by money my whole life and I'm making a change now.
Here is my situation:
- I no longer want to work for my current employer; the position is not challenging in the ways I want it to be and it is eating up almost all of my time
- I bought a 2bd/1.5ba condo for 280k, which is about average in the market right now.
- I am soon to be 30 but have no retirement funds, no savings and significant debt (10k personal loan, 8k car loan, 10k CC debt) this hurts me to write because I feel so stupid about my financial past but I need to be honest with myself.
My employer pays me well but between the mortgage and debt obligations and life costs, I live paycheck to paycheck.
I love Maui, but I want to move back to the mainland early next year - I am from California and am looking to move back to Southern California.
I have worked in the construction industry for years and love managing the building process, helping design, and getting my hands dirty from time to time. The whole process of breathing new life into and old home or creating something from scratch gives me such fulfillment, it's what I want to do with my life.
But I need help with my finances - how can I make my dreams possible when I'm struggling to pay down debt and am barely able to save anything? I have the condo but it doesn't seem like renting it out would be viable - most around me rent out for what I pay in mortgage+HOA costs. I feel trapped and helpless.
I want a plan. I want to work with other people's money (purely cause I don't have my own) to make us both profits. I want to build a strong future for myself, be able to provide for my parents that provided so much for me, and provide amazing housing for the people who need it.
Thank you for getting this far in my long message, I appreciate any and all help/guidance you can provide.
Mahalo,
J