10K Will change my life

[Angel Ortiz]

Hello all, thanks for stopping by, today I have an important question. Hopefully I'm posting this in the right section but if not then please go easy on me.

First I would like to explain my scenario.

Ive been living in a rent stabilized apartment my whole life. It was my father's unit at the beginning of this year I've took over the apartment as the successor after my family moved away. I'm posting about $600 for rent for a two bedroom here in the Bronx, NY, and I'm a 24 hour stay home dad. My babies mother works full time as an assistant manager at a retail spot and we are a low income family barely making any money to save. We fell behind on rent and the landlord wants to evict us. I met with the landlords representative, and they offered me a deal. The landlord decided to buy me out of the apartment and not owe any of the back rent. So.. I've been working really hard at learning wholesaling and I've decided to master it but money us still an issue... Needless to say, I've accepted the landlords offer realizing that I need to take this risk of accepting the buyout and using this money to invest in myself. I plan to get my real estate license and drivers license and a small used car. 

Now, the thing is... Guys I really need help. I have to use this money to turn my life around and invest in myself and something. My son needs his daddy to make sure everythings going to be okay. And this is me seeking advice on what I should do with the money. With my knowledge of money today, it's only a matter of time before it's all gone. I need the minds of you amazing people to help me think to get to a better place. 

My question is, what should I do with the 10k? Thank you guys.

[Chris Rosenberg]

Maybe I missed it but where do you plan to live now that you are out of your $600 2 bedroom rent stabilized apt and how much will you pay in rent? I don't know if you can find a 2 BR anywhere in NYC for double that price. You will burn through that $10k in no time. I would do everything in my power to pay the back rent owed, stay in the $600 apt, put the kid in daycare, get a job, save enough for a co-op or condo downpayment and get an FHA loan.