OfflineHello everyone,
I am not new to real estate. I bought my first house in 1997 and my second house in 2000. Since then I have not purchased any property.
I have always loved remodeling homes and seeing how you can make something out of a old run down home. I rehabbed both of my properties, which is probably the reason I haven't purchased anymore. Worn Out! Also, having two young children changes your life a bit.
A couple of years ago I purchased two real estate programs to learn more about purchasing homes with no money down. As always life got in the way and I just stopped pursuing what I love. The two courses I purchased taught me a lot on how to find the deals and how to close them. I just did not feel comfortable with the paperwork part of it. I was unsure if the contracts were legal in my state of NC. I still have a lot of questions to be answered.
I purchased my properties using banks. I feel this is the only way I feel comfortable purchasing properties. I just do not have the confidence to use the other methods taught. I think if I closed my first deal it would boost my confidence and make me a believer in doing this.
Since losing my job this past year I have gained interest again in investing. I just want to be able to control my own destiny and not rely on anyone else. I have started up a handyman service in Charlotte NC but I haven't landed any work yet. I know during the holidays it is hard to start a business and must be patient.
I do have a question for you all. I do have equity in my one house and would like to pull money out to purchase some more property. The problem is that my credit is bad. Does anyone know how I can still do this? I was thinking maybe a private lender but I do not know anyone that lends money. All suggestions are welcome!
Lastly, I would like to wish everyone a Prosperous and Happy New Year. May GOD Bless you all!
Chris
Regards,
Chris Weezorak
You know my children are the most supportive people I have in my corner. What better motivation and support to have! I am stepping out on faith beginning in 2013 and putting the principles that I have read and learned from the training materials and many motivational weekly wisdoms viewed. We are experiencing tough financial times and we see that only we can determine our future and not leave it to government and politicians to fix. I am experiencing my own "Fiscal Cliff" and I am tettering on the edge but determined not to fall. I see that Dean's real estate program is a viable option and a means to help me and my family to shake loose the financial chains and be able to enjoy life.
Nothing Beats a Failure but a Try!
My resolution is to Try...Have Action. More to come...
I am sure you will get a lot of good advice. A couple of things I can think of is to start building your business credit by first getting an LLC and then taking out small loans or get credit cards from HOme depot, Office Depot, etc. YOu can also get unsecured loans from banks, and you may have to try more than one bank, but don't give up.
Here's how. Go to your bank and ask for an unsecured signature loan, if they ask 'what for' , your answer is to just to build my credit. If asked how much, 'as much as you will loan me'.
The KEY is to pay 10 days early on payments, make 2 payments on the 3rd or 4th one and pay it off on the 8th month. Rinse /repeat. This is what was taught to me early on.
Secondly, you mentioned equity in a home that you could use. Take some of that money to pay for an attorney so you will feel confident in your contracts. Also read as much as you can about these topics on this site. Best wishes. Tammy
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Welcome to the DG site and family!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Even with bad credit, you should be able to get a small home equity loan. You will have more success with small local banks and credit unions than the larger banks. If you can free up a small amount and then partner with another investor - you can get deal after deal after deal done
I hope this helps! Happy Investing!
KEEP MOVING FORWARD
"If it is important to you, you will find a way. If not, you'll find an excuse."
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125