Trying to start over
Hi,
Here is my current personal situation. I am recently divorced, took on a ridiculous amount of debt, have a credit score of 500, very little cash, about 3 months behind on mortgage payments for a property I am renting, and I am working 2 jobs, plus being self-employed creating blueprints for houses etc. I also moved to a new area to be closer to my kids and have very little contacts here. I have been in all fields of construction and can fix anything (the correct way). I now run a building department and have been on the government red tap end of the spectrum for about 10 years. I’ve dealt with home inspectors, contractors, problem properties, condemnation notices etc and have worked along side architects and engineers. I’ve also bought and sold 4 properties over my lifetime and am currently renting a house that I acquired while I was married. I have the experience to get into this market, but with my financial situation, I definitely will not get a mortgage of any kind, and since I do not know anyone in this area yet, it would be difficult for me to find an investor who would be willing to take a risk on me. Does anyone have any suggestions on how I would be able to get started buying and renting, or flipping houses given my situation? I’m open to anything and have begun reading and gathering information and knowledge on the topic. I’ve made it through a few books, and the only method I could see working would be an owner finance deal. If there are any other suggestions, I would love to hear them. I don’t want to be broke forever and do not want to work my normal job forever. Thank you for any help in helping me starting my life over.
Jake.