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Updated almost 7 years ago,

User Stats

36
Posts
8
Votes
Sheila Villacampa
  • Homeowner
  • Chicago, IL
8
Votes |
36
Posts

Real Life of a RE investor/wannabe

Sheila Villacampa
  • Homeowner
  • Chicago, IL
Posted
I selected this forum because I want my story to be a successful one. But I doubt it.. And really today I feel like I want to give up. In 2003, I came to the US through a work visa. Apart from job, I dreamed of establishing passive income mainly to help my family. I thought of doing it through RE. I worked 3 jobs, established my credit history saved enough down payment and got my first condo home in 2005. A book gave me the idea that if live in it for a few years, rent it out and move on to the next is the way to go about acquiring passive income. Then I repeated it in 2006, 2009, all condos and with loans. Doing the same working 2-3 jobs at one time. I lived in one and the others are rentals with 200-300 negative cash flows because of bad timing. But I hang on to it because I did not know any better and certainly did not know biggerpockets. And also because of hard work and I was single, thus able to do so. Life was beautiful!! I told myself. I have a goal. I was busy with work. And enjoying life as a single happy bachelorette in Chicago. Fast forward to 2014, I have acquired 2 other properties--moving forward towards my goal. But along the way I also have now 2 wonderful children. I realized I cannot sustain 2-3 jobs when I have kids. But my main detractor from dream is my husband who does not believe in RE, and in every turn discourage me from it. Today is one of the worst, because I'm at the tailend of my maternity leave and my rainy day funds are dry,with no moral support from my partner, who literally have said in several occasions including today that he will not lift a finger. I just want to quit real estate. I would like to requests experts opinion. Is it possible to succeed in this despite of approx 180k loans, 2 properties in negative cash flow, tax lien that needed to be redeemed from my residence, 2 properties that need rehab and 2 kids+1 to support? Or is this a nightmare that I need to awaken? I want to be a RE Investor with the capital I and not just a wannabe but maybe I dug too badly due to ignorance. Please let me know but be kind, I do hear a lot of criticisms from my hubby.

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