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Updated over 9 years ago,
Any ideas??
Hi everyone. I'd like to start by saying that this forum is amazing and inspirational!
I am from Rhode Island and looking to start out investing in real estate all over again. I say "all over again", because I started young (at 19) buying rental properties but like most young kids I made many mistakes and sold the properties. I have always had a passion for real estate investing and now I'd like to dive back in.
I am looking for some help or advice with a few specific things, and this is probably the best place on the planet to ask, so here goes...
I am looking to acquire rental units, but I have some road blocks that I'm having trouble navigating around. I am self employed (I own a small used car dealership) and have all of my money tied up in my inventory on the lot ( about 30k) and I also own about 11 acres of land that is in the process of DEM approval to build. Aside from that I have no other real assets. I don't pull much of a pay check from the lot which I now regret and have since changed therefore I do not show hardly any income. The plus is that I do not have any credit issues and almost no debt. I'm looking to get creative..
Any ideas guys???