I need help to make a few changes in my life Just a lil background on me.Just got out of Probate .The house is currently @last appriasal 400,000 my pay off is for 210,000 i want to use some equity or line of credit to purchase investment property To maintain a steady cash flow for myself .But i am new to this and just wanted to know if anyone has any insight on this matter whether it be books or to recomend or a mentor. My credit score is 600 and want ot know how would i go about this.i live in moreno valley california ,southern california which has seen a increase 50% value in recent years .Just want to become wealthy and not make to many mistakes.So any input will be a great help to me.
There are a ton of books out there! Are you looking to put down say 20% and buy as many as you can are you looking for how to buy below market(wait I guess everyone wants to do that) I guess what the number one question is How much do you need to make per month to live the life style you want?
well i need about like 4000 a month to survive .
i want to know howand what steps to take or what book to read there are so many to choose from.
sell your house.
last time the market crashed MV dropped 60%.
give your money to a reputable hard money lender. he should be able
to give you 10% return secured by real estate.
thats nearly 20k/year.
this is only if you want to the income. i’ve lent money to people who’s investments i understand and trust safely[so far]. otherwise put the money in the bank.
learn how to fix your credit and fix it. start reading the book in
the list in my signature. then read 50 more.