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Updated about 9 years ago on . Most recent reply

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Latisha Haynes
  • Real Estate Agent
  • Rutherford, NJ
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Life After Bankruptcy

Latisha Haynes
  • Real Estate Agent
  • Rutherford, NJ
Posted

What is the best way for a newbie to break into the business with creative financing that has filed bankruptcy (May 2015) and does not currently have any reserves?  I do not want to keep putting my dream on hold.

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Michaela G.
  • Investor
  • Atlanta, GA
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Michaela G.
  • Investor
  • Atlanta, GA
Replied

Of course there are creative ways to start off. 

Here's one suggestion.

My suggestion would be to farm a neighborhood, meaning that you get to know all the houses, and price ranges, recent sales, go to open houses and see what's offered and how quickly some of those houses sell or not and what it was that may have made them different. 

Go to your local REIA and meet others. Possibly find a financial partner, who's willing to finance a good wholesale deal, so that you can purchase, sell to another investor and split the difference.

That's one way

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