Im quitting my job for good reason but have only a few hundred bucks. Now what???

Question

I am brand new to the industry and have decided that  I want to be happy rather than depressed. I am a US Navy Sailor and have enjoyed very minimal time being one. Dont get me wrong I love what our great nations navy stands for but I can no longer stand with it. I have a sick mom, disabled sister, and a two year old son who doesn't even live with me due to my navy career. Well I am so ready to seize my dependency upon the navy. If you all dont know already many in the military suffer through things to have the benefits that are offered and find themselves lost without a cause if they had to get out for some unknown reason. I dont want to be that person. I actually may be processed out of the navy soon because my mom is ill with two young girls and no help. I am the only one willing to be there for them. So with that being said I am in dire need of help. The first thing I know ill need is atleast a part time job. I really want to start off working as a property manager or construction workers for rehabbing properties. I want to be behind the scenes working towards the transformation first. That way I can go in as an investor already seeing what the outcome will look like before we even get started. Any suggestions on how to get these jobs with no experience?Also, is it a bad thing to offer free work just to get the knowledge and know how in return? Im a strong believer that knowledge is power. God bless you and Thanks in advance.

Ned Carey · Answer

@Shaniqua Dupree  that depends on what you want to do in real estate. It also partly depends on what your skills are.

Being an agent is often a good choice but that is not something that is likely to bring income fast. It is something you could do part time on the side.

Steven J. · Answer

One of the podcasts had a section about how to hack your housing. As a vet you can qualify for VA loans, that's 0% down to purchase a home. I would suggest finding either a large house or plex unit that you can purchase and rent out the other units or rooms in the house. Since you financing the entire purchase your payments will be higher but the added income should atleast help alleviate your payments allowing you to more quickly save up.

Ned Carey · Answer

I think you have a good plan and a realistic attitude. Reading the title I was going to say the first thing to do is get a job. You can be successful in real estate investing but it takes time. If you have no cash reserves you need income now. I think a job in the industry is a good idea since you are changing anyway.

PS welcome to BP

Shaniqua Dupree · Answer

Thanks for the reply Ned. funny that you are in baltimore. Ill be heading back there to take care of my mom for a while. Because im sure you know the area well what would be the best way to go about getting any job in the Real Estate field in baltimore? Who are the most flexible people when it comes to experience?

Im quitting my job for good reason but have only a few hundred bucks. Now what???

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