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Updated almost 17 years ago, 03/25/2008

User Stats

38
Posts
0
Votes
Marvin Eason
  • Real Estate Investor
  • Oceanside, CA
0
Votes |
38
Posts

Ok! I am ready to quit my job, I can't take it! I need...

Marvin Eason
  • Real Estate Investor
  • Oceanside, CA
Posted

To be my own boss!!! But seriously, I need advice to make this happen, at first I was all about wholesaling, but I realized as I learn more on here the more I want to be a landlord and buy and hold homes to build my net worth.

Now, I can't figure for the life of me how to approach this with my situation. I am currently taking the steps to pay down all the debt on my credit report, it was at 12k and it is down to only 4900 now :mrgreen: that's left.

But, I am living in a home where I will be the "landlord" on 3/31, I have two tenants already, I just had someone move in, with whom I work with. And once the room I live in becomes available (after the old landlord moves out) I will be taking the master bedroom downstairs.

As it stand this house is up for a short sale, and I have very little cash on me (like close to none) because I've been aggressively applying it all to paying down my debts to increase my score.

So what should I do??? I am eligible for a VA loan and was thinking that could secure this house as my first investment property, but it's not all piecing together in my mind!

HELP!

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