The next step

I have spent some time now reading everything I can get my hands on. I’m still skeptical about when and how i’m going to take the next step and get a deal working. I do have some issues that i’m worried about and cannot seem to find out the best direction I should move in. I am young, and have just started building my credit. I do not have a lot of trade lines, I do not have 12 months of cancled checkes or any type of payment history on rent (which most lenders want). I am a mortgage broker, and if getting a mortgage out on my first property is the best direction for me, I will have some flexability. My main issue is money. I’m young and have made a decent amount at my current job. But I work on commission and could always run into a problem down the road where I might not see a pay check for awhile. So the money I have saved away is a security blanket so that I can live x amount of time without getting a paycheck. I do not have a lot of money I’m will to risk into my first property. I’m thinking the best way for me to do is try to get into some quick flipping to get some money to reinvest in other deals. I also live nearby a college that could be helpful with getting a property to rent. But like I said i’m not sure what is the best direction for me to move in yet, and would like to hear what other people would do with my current situation. I’m mostly looking in my area. Basically i’m looking to get one deal done with the absolute minimal risk possible, but yet being able to make some type of profit to reinvest into my company and be able to do bigger and better deals that will have more risk with more reward. (So i’m not trying to use any of my money or minimal to get started).
So i’m really not sure what the best direction is for me to move in to achieve my goals on my first transaction.

Howdy Nmolter:

I just bought 31 units and have less than $1000 invested. The deal is valued at almost $400,000 after completion. I had to borrow the grand even. I have horrible credit less than 500 scores and several bankruptcies and foreclosures and car repos.

If you want to do rehabs do them
Sub2 too can be done
There are no excuses. You are a mortgage broker. Give me a blank checkbook like that and wow I would own half the town. There are all kinds of mortgage programs out there for 100% loans and bad credit and HM lenders. No excuse not to have several deals already done

Good luck


Gotta just get out there and do it. That is one of the best ways to learn.

Good luck!