Hi Guys. About 15 years ago, I spent half of my life on these forums and learned SO much! Life happened, and here I am back again. I’ve had rental homes in the interim, and was successful with them (yay me!)
NOW I have an opportunity to put my love of creative real estate investing to work.
~I have a debt of $30k (a loan in my mom’s name) that requires $1k/month payment.
~I have $10k - $13k in cash. This is about a year’s worth of payments, and is my security ‘blanket’.
~~~How is the best way to leverage my cash to pay this debt off?! ~~~
The ideas I’ve had are:
Buy a property from a desperate seller (how do I find one quickly?) with $30k automatic equity
Buy a property with little to no fix up required, owner financing with my $10k down payment, that nets me $1000 per month to make payment.
Thanks y’all. I know y’all will have a great idea! And much faster than I would!