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Updated about 9 years ago, 11/09/2015
We appear stuck but determined to get out
Hey there everyone, I currently own a small business in an entirely different industry but I have been keeping my eyes on real estate for about a year now. I have no desire to put money down and I have been rebuilding my credit. But since my taxes show nearly zero income due to deductions, I can't get a mortgage to buy any house anywhere. Therefore I can't exactly acquire financing to buy up properties, renovate and sell. I want to dive into this industry but gradually because I have a wife and kids to support while running my current auto glass business. It's definitely not an exciting industry but hey it pays the bills and allows me to give to my church and buy my wife wifey things. We both have fancied the idea of going into real estate together. Bottom line, my question is where is the best place to start investing with zero money down, bad credit and with the highest ROI In the shortest amount of time? Alongside that question is where in the heck do you find investors if you don't have tons of wealthy friends or family members? Or any for that matter? Craigslist? That sounds a bit sketchy. I refuse to ask people I know for money because of the risk to relationship. So where can I legitimately go and say "give me $350,000 to buy this house, renovate it and I'll give you 50% of the profit"? I suppose I could just walk up to random people and ask but I suspect that won't yield a high percentage of eager investors. Any and all advice helps. Thank you in advance!
Shaun Dewitt