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Updated over 1 year ago,
Bankruptcy affects on breaking into real estate investing
I had to declare chapter 11 bankruptcy a few years ago due to large medical bills. It's been discharged for a few years now and I currently have a W-2 job making more than I've ever had before, well over six figures. I am an accountant working for a real estate syndication based out of New York City. Anyway, since working in real estate development & property management, I've been wanting to start investing. I've been reading books, listening to podcasts, leveraging work to build on my knowledge base. My question is how do I break into real estate, secure financing, and start off by house hacking? I live in New Jersey, and have a long term girlfriend who makes even more than me. We have probably $125K that we could access for investing. She has great credit but I don't want to ask her to take on all the risk. I've opened an C-Corp LLC with both of us as 50/50 owners. Can I use this LLC as a financing vehicle for investing? Any help or advice would be appreciate!