Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 17 years ago on . Most recent reply

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!

Loading replies...