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Updated over 5 years ago on . Most recent reply
RE Investing after Bankruptcy
Hi everyone! I'm new to investing and wanted to get some advice on investing in real estate after having gone through Chapter 7 Bankruptcy about a year and a half ago. I've never been a homeowner and I'm looking at possibly an FHA loan after another 6 months more of waiting to fulfill the required waiting period to qualify for an FHA loan. In the meantime I just started looking into Wholesaling as a possibility to getting started. I have a full time job right now that allows me to save a little to be able to get the 3.5% for the loan after a few months of saving. It looks like I will try to find a 2 to 4 unit multi-family property to invest in to start off. My question is for those who have had to file bankruptcy and how you managed to get over that hurdle and get into investing? What seemed to be your biggest challenges? I have definitely learned from past mistakes and do not plan to repeat. Been reading about getting personal finance issues all resolved and a focal point before starting, which I believe I have. Would love to hear people's thoughts on this topic. Thanks for you time.