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Updated about 8 years ago,
I Need some advice with my first investment Property
I'm looking for a little guidance I bought a duplex with the plan of living in one side and fixing up the other, renting it and moving on to more properties. The plan was that we were going to shed all of our unnecessary monthly bills and live bare bones and drop all of our extra money into renovations. We have got Side A about 90% gutted but we ran Into a lot of unforeseen issues with side B that we have had to throw money into. I'm kind of at a crossroads because the woman whom i'm related to by marriage said I need to find a way to get side A completed soon or she wants to walk away from it. I am unable to get bank financing because I am self employed and my write offs take my income level to low but I don't make enough money to make repairs on both properties. I feel at this rate it will be forever until either side is completed and every month that passes by is another rent payment I am missing out on. If anyone has any suggestions I would greatly appreciate it. Thanks