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Updated almost 3 years ago on . Most recent reply

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2
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Mitchell Mohney
  • New to Real Estate
  • Toledo Ohio
0
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2
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BRRRR !!! WELL TRYING

Mitchell Mohney
  • New to Real Estate
  • Toledo Ohio
Posted

Hello all so this is my first post and I've been on the app for over a year now was just reluctant on posting anything but here goings please don't be to rough on the punctuation lol.

so I've all way wanted to get into realstate for the longest time .I always told myself that once I got a better job where I wasn't living pay check to pay check I would finally get my butt into  gear 

well 2 years back i got that job thank you thank you hahaha . I Saved up a small chunk of change and did nothing . In that year I listened to 54 different real estate books and self-help books and almost every single BiggerPockets episode some more than once . I have all the apps realtor, Homesnap ,zillow,redfin, Craigslist,hud homes,loopnet constantly looking for deals city tax auditor looking at houses for back taxes owed ... all the places .

I ended up finding a house in the neighborhood next to UT that my sister was renting and was about to move out . She mentioned to me that the landlord told her that he was willing to do a land contract for the house but she was not interested that made my ears perk up and I asked for his number well long story a little shorter . I bought the house with maybe a little more damage then I should have but I felt like I was going to get analysis paralysis if I didn't do something soon. Because I am bound and determined to be a successful real estate investor .

My problem savings spent I been working 84 hours a week to cash flow things with men doing that I I'm only able to work on the the house around 4/5 hours at a time then with my regular job that's 17 hours day and I'm only able to do that a couple times a week . So I was thinking of getting a heloc or a home equity loan or hard money so I didn't have to work so much and I can finish this beast time eater of a house lol any info or feed back is greatly appreciated thank you !!

$17,500 is owed on the house 

$6500/$8000 to help me finish with out killing myself working so much ! 

$55,000/$65,000 ARV

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