I need some advice PLEASE..Thanks in advance!!!!

I need some advice PLEASE..Thanks in advance!!!!

I only have a part time job & I have too much credit card debit(I'm trying to pay them off but you know how hard that is)Right now where I live there are a few deals I see on 2/1 or sometimes 3/2 single family houses that if I could just buy one I could rent it out for positive cash flow.I would love to get started this way in real estate if possiable & I sure want one for myself so should I try to buy one to live in first? My credit scores are 640+ so that's one good thing.I just ordered the books tonight so no I have not got to read them yet in case you are wondering.I can't get a fha loan cause I have too much credit card debit & make so little at my job but it is steady but just part time.So how do I get a house.I have money for down payment if it could be 3 1/2 % down.I'm looking at starter houses in the $50-60k range..Hope someone can help me get started for a REAL FUTURE!!! in REI!!!



Hi Pinballdan,
Welcome to the DG family! Since you expressed home ownership there are many options to take on this new journey. In my opinion I would look into some lease option multifamilies. Rent and look into paying down my credit cards. Which there are different strategies mentioned thru out this forum. It can be done in no time, maybe to 6 months down the road look into the reqirements for a loan then. By going with a multi family the rentals will help aide in reducing your debt to income ratio. Or you can do any of Deans no money down techniques and gain more capitol. There is the option of finding a home that the seller could hold the mortgage with your current downpayments. There are so many options for you. Just somethings for you to think about. Continued Success...........Lubertha




You may want to determine the best market in your area that has homes you desire in your price range, You can look at homes even around $80k to $100k and look for the most motivated type of selelrs. You may want to try to find a cash partner, as well. If the deal is good enough, a partner may put up the cash for you.

Also, look into owner financing, or rent to own possibilities with homes that may be owned fre and clear by the current owners. Also, look for "hard money lenders" in your area, the charge a high interest rate but if you plan on flipping the house, the house interest for the short term may be ok. Good luck with real esatte investing. Believe and Achieve! Smiling - Joe


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I need some help.

I found a house,you know the kind- the grass is tall-windows are broken; but the bones are good.I looked in the window..all the sheetrock is gone! It looks like a fixer that someone quit on. right across from a church, rural alabama. I think I can find out about the owner at the courthouse. now how do you appproach the owner? what would you say in a letter to them?

any advice would help alot! thanks.



Basically, just tell them you are interested in buying the house and would like to call them to discuss. Just be honest with the owner.


"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote


Hey Jaybob get the address of the house and GO look it up at the courthouse! Your find the owners name if the taxes are paid And what the house was last sold for. Don't be afraid to ask questions they are glad to help! I'm in Alabama also drop me a line I'll help anyway I can!You will ask the property owners "What are yall going to do with that piece of property!" Don't say home or house make it sound like it looks right now. Let me know what happens!And if you do get it treat it like a New Construction House!

thanks for the help

thanks for the advice! I will do just that!

it's great to have people on your side, and helping!

thanks you guys


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