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Updated over 6 years ago,
Newbie in Virginia looking for advice
So I'm trying to up my game as far as investing in real estate. I have flipped one house that was a "learning experience" (aka I basically broke even lol). Another with a small profit. Then I house hacked by having one FHA mortgage in my husbands name only so we could take out another in my name only two years later. So we still own his - it's a house and a guest house - both rented.
We are looking into multi-family and hotels. What I have going for me - a Class A Contractor’s license, a healthy W2 salary (I’m an engineer at a “think tank”), a little bit of experience, and about $25k or so in the bank for my next investment. And I have fancy degrees in finance and economics and a real estate investment certificate from Harvard if anyone cares lol.
What I have against me - no commercial experience. A totally over-leveraged credit profile (fancy school student loans ain’t cheap!) And not a lot of cash money to invest (wouldn’t feel comfortable with more than $25k-$40k). Essentially no network except one amazing realtor who has been on this journey with me for 20+ years of me buying crazy fixer uppers :). Yeah and broke-*** family members who would be happy to help if they weren’t all broke.
Advice? Specifically - I know I need to expand my network. Where’s a good place to do that? What has worked for you? Other advice? I don’t know what I don’t know...