Closing a Business after Covid-19, rebounding with real estate

[Natalie Allen]

Hi BP! Here is my current situation & I’m sure I’m not alone- My daytime business travels to child care sites & provides ‘hands-on’ physical education programming. With the current state of the country, this is simply not an attractive business to schools & my current clients are barely keeping their heads above water. Instead of reacting out of fear, I’ve decided to close this business & take the slim amount of capital I had left to tackle & sales skills to new real estate projects. I’ve been wholesaling for a few years on & off (more as a supplement to my income) & have previously owned rentals. I’d like to take on a flip but without my consistent income, I’m unsure if I can get financing. What would a pro do next? -I know I’ll need more capital (currently willing to part with about $5k, leaving the rest in reserves to cover my personal expenses, but I know that’s not enough).