Beginner with another beginner investor

[Kao Vue]

Hi!

I have a neighbor/friend who is willing to come up half hard money and I am on the other hand will have to come up half.  I am just got into real estate bussiness and still need to do a lot of homework about it.  Here is my issue, I am a young man who just stopped chasing American dream after found out I am in a deep hole.  I meant I have student loans, car loan, and credit card loans to payoff, so I will not have the other half.  What should I do?  I am in the process of paying off my loans one at a time, so my investment account is not big.

This friend of my has the money but know nothing about real estate.  I am the one will have to do all the work such as finding leads, contractors, realitor, etc.

Any advice will help.

[Julia Vang Hart]

@Kao Vue: There's a right time and place for everything. Now is probably the right time to educate yourself on real estate and investing. Get yourself some good looks and start reading. As @Russell Brazil suggested you may want to get your real estate license and learn the business while you're paying down your debts. Between you and your neighbor/friend it sounds like you'll be the brains of the operation so perhaps as a realtor you can help him find the right properties to buy and make the commission and hopefully you'll make a sale or two along the way to use to pay down your debt. With regard to all your debts be sure to pay everything on time so that you will have a good payment history. Start by paying down your car note off asap because it's a term loan. The sooner it's paid off the sooner it'll lower your debt ratio. Lock up your credit cards and don't use them anymore. Pay more than the minimum and try to get them paid off asap. Your student loans, depending on how much you owe, will take a long time to pay off. 

Best of luck to you!