Hi BP!

I have just woken up to the idea that I am procrastinating! I want to invest in rental properties to gain financial freedom but I am burdened with about $35000 of debt (1BR house included of $23000). I have always told myself that when I am debt free, I will save a down payment for a rental property or use my house as collateral to purchase a rental property. My goal is to be debt free by the age of 30, I am 18 months and $35000 away from hitting my goal.

I better tell you a little bit about my income so you can critic my numbers. I make a minimum of $700 (net income) a week and my expenses are around $430 a week. I have bad credit because of a 3-month period when I was injured and could not work 4 years prior. I also suffered a very tragic loss in my life when my mom died of a sudden heart attack a few months before. I was in a very depressed state of mind and never cared about paying bills or keeping credit in any fashion. Before all of this happened, I was the kind of person who got nervous when I had paid a bill within a few days of the due date.

I have a 12-month loan of $3000 ($270 a month) and am using that to build on and put a wood furnace in to decrease my heating bill 6 months out of the year by $150-$200 a month. I intend to pay it off in just a few months (Its down to 2600 now) and in the spring I want to get a $6000-$8000 loan to build a garage/ workshop. I would like to build and sell wood projects. I intend to use that as my main source of income so I can hopefully quit my full-time job and work from home as well as invest.

Now to the good stuff!! I would like to buy a camper and park it in my back yard and then rent out or Airbnb my house while living in my camper. I wont have the luxury of a house but at least I might have my workshop/garage to spend time in and make money. I have always thought that I would pay off my little house and buy a rental property but maybe a camper is my best choice for now?

I need a place to do my woodworking so I have another income stream but it cost around $6000-$8000. If I buy a camper, I can get around $400-$500 from renting out my house per month but I don’t think I can do both this spring/summer? The camper may cost $3000-$5000 itself. If I am to stick to my goal (debt free in 18 months) what path should I choose and why? Is there a way I can do both and how? Thanks for time!!