looking to buy/ rent
hello every body, great site here and i am thankfull, i am in lower va 24112 area,
i have absoultly the criedit i can, due to a divorce, but i am working on it....i do how ever have a decent paying job, so i am looking to buy one or two of these house's i see in the local area, between 11 and 19,000 deal is i will be haveing to pay cash, thats why the small start up, having owned several homes before i am aware or the process and other fee's that apply. ok here are the questions,
1) if i buy in a lower income area, will i always be viewed as a low income landlord? reason for this question is i am looking to start small, plus what i could afford would not have a high turn over rate....
2) i am attempting to work things out with crediters, but i am starting to beleave that bankruptcy is the way to go? any advice would be much help.
i have 12 things on my credit report 2 are good, ten are charge offs,
i know it sounds like i am grasping at straws, however i have been looking in to it for awhile, and my big plan is to build a monthly after expence income of 3,000 to 5,000, so i am not looking to get rich, but be comfeterable,
please excuse my grammer and spelling, numbers is what i am good at, i beleave in the keep it small and keep it simple programs, but i also know once i pay for it i own it, good bad or other wise,
as the heading states, i would like one of two things, to move into a house under a decent lease puchase program, where the payment would not be much higher,
than my rent which is 425.00 a month. or to find a way to get creative on a small but realistic rental property.....
do to the fact the landlord knows where i work is actually why my rent is high, but the job ,market in this area is going south quickly.
any advice would be greatly excepted
this guy