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Updated about 9 years ago on . Most recent reply

User Stats

10
Posts
4
Votes
Jenet Christiansen
  • Saint Petersburg, FL
4
Votes |
10
Posts

apologize in advance this will be long!!!

Jenet Christiansen
  • Saint Petersburg, FL
Posted

I recently sold my home and have the liquid cash in my savings. My plan was to live off of the money now that I have downsized. My problem is that I will probably outlive that money. This is exactly why I want to get into REI. I also need to be bringing in an income. I am very good at painting, cleaning and cooking. Originally, I was leaning towards getting a smaller property and renting it out on Airbnb. Problem is condos have bylaws on renting, so airbnb won't work. My real estate agent suggested I start my own cleaning business, do clean outs for agents but I read that if the only experience I have in this is doing my own cleaning, it is not such a great idea. I want to make a 10% return on my money somehow that is without risk. (ha ha dreamin right?). I am seeing so many people asking for "hard money"...but why would I just give anyone money without a guarantee of at least getting the return?? If I were to give it to someone to buy something outside of my area, even if I end up holding the deed that won't help me if I am unable to manage it. I had been caring for my Dad full time for the last 6 years and he passed, this is why I suddenly am left with some money, a paid off condo and car, great credit but no real job or income. I am a very hard worker and I know if someone would give me the chance working with them would be extremely beneficial to both of us. I was in the medical profession part time but have no desire to get back into that full time. I am reading the book on flipping houses and see that it is advised I get my real estate license. I find myself very interested in REO's but our area is very saturated with investors and my curiosity is raised when I see one that has been sitting over a year. I truly have no idea what to do next but some ideas are...putting ads on craiglist offering to apprentice with painters or cleaners, contractors...and once I have some real experience starting my own business doing one of those. I need to be bringing in some money, I really don't want to use this money to live on, not when I am still of able body and mind. I also have my paralegal degree and have not been in that field for 15 years. When I was, I did closings up north for an attorney. Right now I am reading.... A LOT. I am also praying A LOT. I want God to be the author of my next move. Only He knows what is going to happen down the road, I am not a fortune teller. My problem is I am anxious to get started doing SOMETHING. Does anyone know of anything safe that is guaranteed a 10% rate of return? fail safe? my fear are what if the bottom were to drop out like in 2008 right after I buy something. So many economic gurus are pointing to that happening. I am very good at making people feel comfortable, love cooking and entertaining people too. I wish I could own a bed and breakfast actually, but I don't have enough to get one of those. Unless occupancy is constant, they aren't a great money maker anyway. I am looking for ideas....

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