TALK ME OFF THE LEDGE-Trying really hard to get started

[Yolanda Gardner]

I'm getting a little frustrated and discouraged.  I need my BP family to talk me off the ledge.  I've done many things to try to get started with a buy and hold, and something always trips me up and stops me.  I tried a hard money lender, they wanted me to have $12k in cash to start, I tried refinancing my house, my personal credit score is stopping me at this point.  

I even got my RE license, but I'm still not able to get this horse to run.

Suggestions please BP family, I find your personal stories uplifting and encouraging.

HELP!!!

[Canesha Edwards]

@Yolanda Gardner

Hey Yolanda-

I think the first thing I would ask is what are you real estate goals? Are you a buy and hold investor, flipper, etc. Secondly, you need to determine your property criteria. Once you have a clearer path about what you’re actually trying to accomplish in Real estate you can create a game plan.

Secondly, you need to take a hard look at your personal financial situation. Maybe working on your credit, saving a little more for the down payment, etc. Plus, given the uncertainty in the Market, lenders are being more tight fist with money especially if you don’t have sufficient capital to back the deal. Now, even if you don’t have these things that doesn’t mean that you’re out of the game. Since you have your license- find a good deal and partner with the buyer. Your commission could go towards your equity in the deal. Maybe there’s someone you know who has capital and good credit but knows nothing about real estate. Or maybe if you find a deal, see if the owner is willing to finance the deal.

Use your license to your advantage. You could Market your services directly towards investors. This way you’ll gain valuable insight and grow your network.

Where there’s a will there’s a way. Sometimes you just have to get a little creative.

Happy Investing!

Canesha