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Updated almost 5 years ago,

User Stats

12
Posts
3
Votes
Douglas Rath
  • Jacksonville, FL
3
Votes |
12
Posts

How do you break the cycle?

Douglas Rath
  • Jacksonville, FL
Posted

Good morning everybody! I feel like i need advice.  First i'll tell you a little about myself.  I'm 34, i've been in the construction trade all my life, i'm a very skilled electrician of 16 years.  I've also grown up around the remodel scene, as my father has a remodeling company.  It's been my dream to get into real estate since i could remember.  Because of my background, ive always been interested in the buy and hold, and the fix and flip side of real estate.  I currently hold a 9-5 job you could say, i do access control, data communication, and security camera installation.  

I dont have great credit, and i've been trying to figure out how to go about getting that first property.  I don't have the savings for the typical 10-15% downpayment.  So how can i break this cycle and get started?  Fixing my credit seems like it will take years and years of payments(i don't have much credit, other than one credit card).  I feel like once i get started, the ball will start rolling, i think i have the skill and motivation to succeed.  What are the different ways to get funding with low credit and little capitol?  What are the options?  Where do i start?

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