What direction should I go?
Hello ladies and gentlemen. My name is 'Wayne' and I'm from Washington State. I was hoping to ask for a little advice. I am starting out as an investor and was hoping someone with experience could point me in the right direction.
I am looking to buy and fix up my first property. A little about my current situation:
1. Licensed, Bonded & Insured General Contractor with good solid experience.
2. Have remodeled homes for investors in the past, as well as my own projects.
3. I own a home with a small amount of equity in it. Approx. $30-$35k.
4. I have decent credit, but not 'good' per se. 650-660 fico.
5. Very Limited cash on hand and assets.
6. Have a pretty good general grasp on basic investing as a whole. (ie, HML, Rates, 70% rule, etc, etc)
7. Am not putting this off anymore and have dreamed of my first project for 15 years. I will not accept 'No' for an answer.
Based on the above formula, what would you seasoned investors do if you were in my shoes and just starting out? Looking back on your experience?
I'd sure love to hear your suggestions and would be greatly appreciated.