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Updated about 4 years ago,

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Beginner Investor Looking for Help to the start of my Journey

Posted

Hello everyone. My name is Christopher and this year has definitely been something. At the start of the year, we were forced to sell our home which was almost foreclosed. I didn't even know that my mom was struggling that much. That's when everything changed for me. I was 10k in debt 640 credit score with no job. I started looking for any way possible for me to help my hard working single mom. Came across the Youtuber Graham and Meet Kevin which eventually led me to the BiggerPockets youtube channel. It peaked my interest and I started looking into more and more. I started to research properties and kept finding amazing deals with 50k+ equity and motivated sellers. My issue was, I didn't have the money or work history.. So my best friend offered me a job at a pizzeria as a driver. Before I knew it, it's already near the end of the year and I have a new car (the old one is being used for another person living with us), almost ZERO debt, and my credit is now 750-760. I even lost 50 pounds on this year's journey. At the beginning of the year, I several goals after we left our home of 20+ years. 

(1)Pay off all debt  (2)Increases Credit  (3)Own My First Property  (4)Lose 40 pounds  (5)Help My Mom

The only goal that I haven't achieved yet is owning a rental. Which might just be the hardest one. I know I don't qualify for an FHA loan because I don't have a work history. Which leads me to try and get a rental loan, from what I've researched, a lot of them don't check for income tax or income. They typically require a 15-30% downpayment from the ones I've found. I know I have the credit for just about any type of loan, all I need is the money. I don't have any rich family or friends. I have about 1.6k in stocks and 1.2k in the bank which isn't much. But I only recently finished paying off most of the debt and I've been giving my mom 750-1000$ a month to help her out.

I'm willing to do anything to get my first property. I know the risks and potential of owning property, it can possibly change our life for the better. I'd love some advice, or even looking for some kind of partnership. Thank you for reading my story.

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