Lisa newport

[Lisa Newport]

Hello everyone, My name is Lisa Newport and this is my first post. My husband and I live in Franklin, In. It is a small town about twenty minutes south of Indy. We have been trying to break into the real estate investing Business since February of last year. We have been reading and taking classes wherever we can find information. We have no previous experience in real estate except for buying our own homes so we paid for some classes and coaching which we are very happy with but our personal lives have had some set backs. I got my Real estate license in July of last year and we have had two houses under contract but have failed on both. What we learned through the first one is the banks can change policies at any time. We were in the middle of negotiations when our fha decided to stop lending to anyone except Owner occupant. We got a deal about several weeks ago for a1889 home for 30,000 and an arv of 80-85. Great deal. We could not get it financed through a credit union or a hard money lender, talked to the wrong ones I guess, but released the wholesaler so he could get someone that could get lending. He had sold it, very quickly, the next day.we are now trying to figure out where to go from here my husband just changed jobs, I'm doing this full time do I am not sure what or next step needs to be.we need to secure lending before we find anymore houses. We have two possible right now but are afraid to pursue until lending is figured out. We have kids College loans and a truck we financed for our son while he was in Afghanistan. He is paying for it and he is going to refinance it when he can but we are in a bind now. Can anyone advise?. We really need to get a retirement going since we lost most of our 401k in 2008. Thanks Lisa Newport.