All Forum Posts by: Craig Perry

Mike Hurney I turn about 80% of my inventory per month. My car lot is small and the cars are very inexpensive. Why do you ask?

Mike Hurney yes, I've made the mistake that you said so many of those in your REI groups fall into. Starting in March of this year I started drawing w-2 income from my business. Better late than never.

Mike Hurney what do you mean by churn??

Anthony Thompson thanks for the reply, but I guess that I assumed hard money and such was for more of rehab stuff rather than buy and hold rentals...maybe you could advise me differently?

Thanks for the link Kyle! I'll definitely check it out. As far as the mistake that I made, there were many. Probably some of the biggest ones was not being responsible with the money I was making and re-investing in more RE and taking on a partner that I trusted implicitly who took advantage of a young kid (he was much older than I was with lots more RE experience).

Thanks for the quick reply and information, but to my knowledge most of those sources will need solid income history. If I'm missing something within that list, please let me know. I'm all ears. With my lack of prove-able income, I think I might need to get really creative and get outside the box. Thanks again!

Hi everyone. I'd like to start by saying that this forum is amazing and inspirational! I am from Rhode Island and looking to start out investing in real estate all over again. I say "all over again", because I started young (at 19) buying rental properties but like most young kids I made many mistakes and sold the properties. I have always had a passion for real estate investing and now I'd like to dive back in. I am looking for some help or advice with a few specific things, and this is probably the best place on the planet to ask, so here goes... I am looking to acquire rental units, but I have some road blocks that I'm having trouble navigating around. I am self employed (I own a small used car dealership) and have all of my money tied up in my inventory on the lot ( about 30k) and I also own about 11 acres of land that is in the process of DEM approval to build. Aside from that I have no other real assets. I don't pull much of a pay check from the lot which I now regret and have since changed therefore I do not show hardly any income. The plus is that I do not have any credit issues and almost no debt. I'm looking to get creative.. Any ideas guys???