Real Estate deals out of nowhere :}

Real Estate deals out of nowhere :}

Member since 2020 · 1 post · 0 votes

Hello everyone. I am 29 years old and am trying to start investing and learning about it. I have been learning a lot about real estate investing in theory till now! Unfortunately, i had wrong "friends" by my side and unfortunately i just found you, I wish that would happens 7 months ago! Ive got some savings now, around 20k and id like to start investing. I am watching foreclosure for a while in my area and i see pretty good deals that we could fix and sell! So, my plan is somehow to get my first property, fix it, and back on market! I know its possible since the labor is basically free! I have two more guys that we used to do flips and general construction! My credit score is excellent since i used to own a trucking comp, 2 trucks, small!! I found the golden spot about 6 months when i pulled out a deal that i paid all loans and got 45k on top! After that it got very nasty in trucking! 

I tried some regular job but after being self employed its hard to get corporate lifestyle! So, that is my main problem, everyone is asking for income, and is understandable! 

Just sharing my thoughts with influence ppl, maybe ill get some ideas! 


P.S to avoid why you did not invested when had enough, because i was stupid and blinded by wrong minds! And also i have a wife and a 3 year old kid, have to make sure i can support them!

Any suggestions?

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  • Rental Property Investor · Lehi, UT · Member since 2020 · 159 posts · 158 votes
    6y

    Since you need 2 years financials to take out a loan on the home, you might want to look at flipping it with hard money and then using the proceeds to fund additional flips until you have enough money to BRRRR with your own money.

  • Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    6y

    I'd use hard money to get going. Establish a local team to crush it!

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