Starting over at 41 with basically nothing. Oh, hi, I'm new here!
I don't even know where to start, so...
Hey there. I'm Aaron, and 3 weeks of late night research on youtube lead me to a chain of channels and videos that has led me here. At this point, I can definitely say that I'm hitting an information overload and am beginning to feel like I'm stretched too thin. (Considering what got me here in the first place, I was already pretty stretched out)
So, quick recap that brought me to this place. I'm a 41 yo father of 3 who was a stay at home dad to his daughter of 8 years since she was born. (My boys are 11 and 12) I lost my job due to a corp merger right before my baby girl was born, and since my..."career" was trash anyway, the prospects of starting over and paying all my money to daycare just didn't make any sense, so I started some side things from home and stayed home while my wife (who used to work in retail, but is now a bank manager) continued working.
She lost her job, and I had to stop my forex day trading to fund our bills for about six months until she got back on her feet. Needless to say tho, that stopped my own trading cold. Ok, this is getting drawn out and long, so here's the fast forward version from there. Cut to today, she's leaving me, moving out of state with my kids, and...we own a house together that's about 20k under water on the mortgage. I'll be left homeless and forced to go into CDL truck driving to avoid the situation. It's unfortunate that such desperate circumstances have brought me here, but the truth is that I really don't want to be a truck driver and I've always had a mind to get into investments to retire early. Only now, I have nothing at 41 and have to start over from the very bottom, without savings or retirement investments to speak of. About the only thing I do have is excellent credit. (Fico of 750, 789 with my primary bank)
So, that's me in a nutshell right now. I'm here to learn, to try to find some kinda way to get started in real estate investments so I can build something to leave behind for my children when they're older. I'm primarily interested in buy and hold real estate. Unfortunately, spending any time on youtube leads to multitudes of advice saying to go with SFH, or MFH, or this that or the next big thing someone's trying to peddle. It's hard to really find something to latch onto and just go with it. At present, I've been convinced that MFH is the way to go, mainly because I don't plan on having more than 10 mortgages out in my name (all placed under land trusts tied to holding LLCs owned by a WY LLC, managed by a c-corp for business credit purposes. I still have to set all this up naturally)
I've got some really dark days ahead of me, and alot of hard work to do. I guess I'm just looking for some kind of direction now. Hopefully I can find that here.
Places I've been looking:
100 percent financed (youtube)
Credit suite (youtube)
Anderson business advisors (youtube)
Commercial property advisors (youtube)
And here! (youtube, forums, website)