Need Creative Financing Advice- unemployed. - Posted by Martha-FL

Real Estate Investing
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Posted by Brent_IL on January 07, 2003 at 22:32:07:

with that many contracts going on, how would you have fixed a $600 problem? No sarcasm intended. With me, something unexpected seems to come up pretty regularly.

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Need Creative Financing Advice- unemployed. - Posted by Martha-FL

Posted by Martha-FL on January 07, 2003 at 12:24:33:

I have been learning about investment real estate over the past month and have found this website to be a GREAT source of information.

I am excited and would like to start purchasing properties to either flip for a profit or if the right situation comes along, keep as an investment property and rent out.

I unfortunately have a temporary “stumbling block” that I am sure I can work through, but would like some advice. Last week I was permanently laid off due to company closure. So I now find my self unemployed right as I am ready to start purchasing investment RE.

I am not willing to just give up and say ok I can’t pursue my dream until I find a new job. My question to you, is what is the best way to go about purchasing properties other than going through a bank since I am unemployed.
Thank you for any advice you can provide!

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Re: Need Creative Financing Advice- unemployed. - Posted by Wes (DFW-TX)

Posted by Wes (DFW-TX) on January 08, 2003 at 09:11:44:

Hi Martha-FL,

Along with Matt’s advise, you mentioned Flipping. With Wholesaling (a form of the more broad term Flipping), you don’t need any banks or financing - the investor that you flip/wholesale to will need financing, etc. – you just take your assignment fee at closing.

Good luck,

Wes (DFW-TX)

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Re: Need Creative Financing Advice- unemployed. - Posted by matt

Posted by matt on January 07, 2003 at 13:21:20:

Martha:

There are a couple of ways: wholesaling, retailing, lease/options and options. Those are the basic creative real estate techniques. Keep reading on this website to get an idea of how the techniques work. I would even suggest that you buy a course on the technique you want to concentrate on.

Regards,
Matt

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Find a job first. CREI is then much easier. NTXT - Posted by Brent_IL

Posted by Brent_IL on January 07, 2003 at 13:19:53:

.

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Re: Find a job first. CREI is then much easier. - Posted by chuck

Posted by chuck on January 07, 2003 at 14:54:41:

I also lost my job, about 4 months ago and decided to jump fully into REI, even though I had only $500 to my name. Very glad I did. The first couple of months were hard, but I signed 2 l/o yesterday, 1 l/o today and 1 sub 2, to go along with the 2 l/o I did right before x-mas. Just keep going at it.