Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

5
Posts
0
Votes
Jason Donald
  • Bushkill, PA
0
Votes |
5
Posts

How to get started with $8000 in Pennsylvania. Ideas or advice?

Jason Donald
  • Bushkill, PA
Posted

I just Finished Rich Dad Poor Dad. Great book! Im still uncertain and a bit apprehensive as to what move I should make. My credit is not good at 600. I am a General contractor who can build a house from foundation footing to roof ridge vent, so Im leaning towards brrr's and foreclosures. I know I should collect some numbers and start using the calculators on here yet the snow storm today is not helping that avenue out at all. I guess Im just reaching out to soo if anyone has anything they might want to share. Or possibly someone might want to go in on a deal together being that I  can personally handle the rehab/remodel aspect of a flip house. Im very new to this and although I do own a house, since the housing market collapse I owe more on it than its worth so no equity option there.

Most Popular Reply

User Stats

1,405
Posts
864
Votes
John Leavelle
  • Investor
  • La Vernia, TX
864
Votes |
1,405
Posts
John Leavelle
  • Investor
  • La Vernia, TX
Replied

Howdy @Jason Donald

Welcome.  You actually have a leg up on a lot of new investors.  Money aside, you being a GC makes investing in distressed properties a perfect fit in my opinion.  Bad credit is no problem. Just use creative financing (Seller financing, Hard Money/Private Money Lenders) to fund your deals.  You could also get an equity partner with good credit to get conventional bank financing.

Before you start jumping into the BP calculators just make sure you completely understand the analysis process on paper.  Once you are comfortable then use the calculators to speed up the analysis.

Be sure you understand the full concept of BRRRR and how to do it.

Hope this helps.  :)

Loading replies...