My husbands uncle ( 70 years old) has a home he owes about $50,000 on.. current mortgage is $650.. he also has some credit card debt to the tune of $10,000.. with his social security he barely gets by and counts every penny.Here where the real estate investment part comes in...bare with meThe home is in dire need of rehabbing.. but he has no money to do the repairs.. in the current state the house might fetch $110,000.. comps in the area for moderate upgrades sell for $185,000-$210,00..He considered selling cheap to get out and buying a condo.. but he would still be cash poor.. he figures what he could sell the house for would pay off the credit card debt, and give him some money down on a condo..

I lived in LA for five years now, and after realizing that I spent over 50k on rent in this short period of time, I started investigating other options.

@Michael Henry the price is discounted property needs rehab, it's a five unit building new roof and new back porch.

I had about 50k of instant equity, and am happy to say that it has almost doubled in value in the five years since I bought it.

My credit situation is an odd one, I just received my first credit card a few weeks ago, somehow I have good credit.  

As Peter said, just like a credit card. 

Option 2 HELOC which means Home Equity Line of Credit similar to a credit card except it is secured by the equity of the property. 

I was able to attend 4 or five meetings of the REI Club and everyone I talked to suggested to start off wholesaling, which sounded impossible, so I gave it a try.For the next two years I bought a roll of stamps every month and mailed 100 letters at a time.  

Buy some serious hustle and some business cards.  

Do not think that a business card title of a person means they know anymore than you.Good luck to you!