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Updated over 8 years ago on . Most recent reply

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Mike Reece
  • Russellville , AR
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Help Greatly Appreciated

Mike Reece
  • Russellville , AR
Posted

Hello,

I've been on BP awhile but felt this was the best place for this post.

I live in Russellville Arkansas.

I've got 3 properties I've bought and resold owner finance and working on number four. These were very cheap properties I paid cash for fixed up and resold.

My deal now is I want to do more in real estate, but I can't. I'm stuck. I work shutdown jobs and they have been slow. Therefore money is low. Ive tried several small businesses that have fallen through. I've been looking for another job to no avail. I want to make money in real estate. Is there anyone that can give any advice or help on what I should do? I've read forums and listened to podcast but they all seem not to apply to me or I can't understand them. I'm looking for a mentor or some solid instructions on what to do. 

Thank you in advance for all your help!

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Justin Fox
  • Software Developer
  • Vidor, TX
638
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Justin Fox
  • Software Developer
  • Vidor, TX
Replied

You're money is low, but is it too low to finance money?  You can get 1.9% auto refi loans @ 5 year term at some credit unions and they loan up to 130% of the vehicle's value!  That's cheap money.

You could also possibly do some upgrades to your current residence and refi some cash out of that as well.

Borrow money from family or friends.  If your current investments are proving to be profitable you should have no problem.

Check out some credit union's business/commercial loan department and see what they can do for you.

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