Caught in Limbo

[Nikkiah W.]

:cry: I live in New York City and want to invest in residential real estate, buy/fix/sale. I tried being a bird dog. But this is the a very large city. I've always been beat out by more experienced aggressive large investors that employ tons of bird dogs. They get to these listing before the ink has dried. Pre-foreclosures in New Jersey, in Newark, overwhelming, same thing as NYC. The good deals I have found are Upstate New York, say Syracuse. I have no access to this area.

What about someone like me getting started. I am a single mother of two, I have no outside family support, am unemployed, have exhausted my unemployment insurance, work for several temporary employment agencies, few assignments, bill collectors ringing my phone off of the hook, a family to support. Like I said, caught in limbo, or in a lurch, as some may say.

I was once doing so well, but fell on hard times when expenses went up but not my income. NYC is under going an unemployment crisis. I don't know where these jobs they talk about are. The unemployment office says that after six months you are dropped, then the unemployment number seems to go down, but it really hasn't, then a larger number of people apply. I have worked everywhere. The job growth is not here. I want to relocate. I am so frustrated, have experience, look very young for my age, 31, and am often treated like a child because of it. I'm about ready to explode an snap on someone.

I know how to fix up a home. I have done so in the past. I love creating, but this area is so darn expensive. I want to try pre-foreclosures, but have absolutely NO money. Every dime I earn today goes to rent or other debt. I was in the process of rebuilding and repairing my credit when this all happened. Thank goodness I got everything paid down some (under $7,000) I need a financial partner that could assist me in obtaining more permanent financing then evenly split the profits after expenses.

I have a summary written of my goals and expectations, and an idea I have not seen any investor ever use. The incentives I believe will help move homes quicker. Where do I start? How do I find a business or joint venture partner?

I would need someone that is willing and/or able to finance up to 45% of property. I would just need a start of one or 2 properties to pay off all my debt and put some money away. Then I will be able to continue to work with partner, if they choose, or do my own deals because my credit rating would have improved. I want to work and earn my keep. I do not want ANY hand outs.

There has got to people in the NYC tri-state area that can help. I keep being told to read this, join that, buy this. Nothing is coming through for someone like me. I am caught in limbo.