Posted by JCinIL on September 21, 2003 at 19:47:57:
Mike,
You may look at the local investor club for newbies looking for financing. You can use your combined money/credit to help someone else. Or look to a vetern and try to get help on a small deal. Either way you can start off small and make/learn from mistakes.
JC
Great Credit & Money Looking to Get Started - Posted by Mike
Posted by Mike on September 17, 2003 at 23:55:54:
Myself and a few college buddies have decided to get started in the re business. We have read a few books and a couple of us have invested in sfr before.
We are trying to decide between sfr or purchasing re notes. My question is since our lowest FICO score is 620 and our highest is 750 how can we best utilize these scores to maximize our investment possibilities. We all have good stable jobs and have even considered self directed IRA’s but you can not recieve any of the cash benefits without the tax hit. Along with our scores we have $50k cash to work with and come up with more.
Also, one of our friends is a home builder that is willing to work with us but we can not figure how to make it all work.
A little direction would be helpful. We want the cash flow from investment properties, but we are not planning on quiting our jobs to be full time investors, we simply want to utilize our scores and our funds to our advantage.