I started to invest in real estate last year,I bought two properties and used all my savings. after that my job slowed down and I got a cut on my paycheck for like 50%,I started to pay late in all of my bills,my credit went down and I am still having a hard time to get back on my feet.

@Susan Maneck  I had a significant line of credit with community bank out of Hattisburg .. 7 figures. be cause I was buying sojack they counted me in the CRA .its not the banks its the residence.. they still have to qualify.. and having owned about 300 rentals in Sojac I understand that maybe 10 of them could acutally qualify for a loan..

Greetings everyone,Great and Bad news here:The Great: I got an offer accepted for a cute MFH in Wakefield, MA.

Some jurisdictions require you to underground the power.... thus a possible dig under the street or a cut and cover if you have to open a road.... that gets expensive. 5.

Take a cut of the profit and let them close on the deal and do the rehab.

Cash invested: $8,000 My husband and I purchased a cute 864 sq foot cottage.

This reminds me of a cute story.

I'm not too familiar with how I would rent it out if possible, how to go about finding a property manager if needed, how much of a cut they generally take, etc.I'm still fairly young and without selling this home it's unlikely I'd be able to buy another immediately depending on where I went.

And I know this is a place we’re we have flippers and investors so, this is a cut throat business we are all in and some make it and some don’t, some eat each other up and others win.. thanks

I would never count on a tenant to do any work, you can't count on them and then you end up with situation like this....I can't see how a cut cord could cause $5000 worth of damage?