I'm In Debt up to My eyeballs, can I still do REI? - Posted by Newbie

Posted by Frank on August 05, 2003 at 22:40:21:

Real estate is the fasted way to get you back on your feet. Don’t let $6,000 force you into waiting…you have the unemployment, but try to find the deals and put them together…you can do it…and the IRS will be happy too!

I’m In Debt up to My eyeballs, can I still do REI? - Posted by Newbie

Posted by Newbie on August 03, 2003 at 09:22:22:

I checked with myfico.com not too long ago and at the time my Fico score was 590. However, I recently received a letter from the IRS claiming I owe $3,000 for not reporting all my wages for 2001.

I have a judgement on my credit file, few collections, and just recently a repossession fell off my credit file after being on their for 7 years?..

Right now, I?m receiving unemployment, and have three more months to go. With this additional debt added, my new debt total will be $6,000. Come to find out the IRS is correct with their findings, and I have to do something now to get this paid because I don?t want this to go on my credit file??

I was getting ready to start assigning deals and doing lease options to raise the money, quickly, to get debt paid off!

Should I put real estate investing on hold, and find a job, or go ahead and find deals to get debt paid off?

Thanks for responding.

Newbie

I’m In Debt up to My eyeballs, can I still do REI? - Posted by Jay (NY)

Posted by Jay (NY) on August 06, 2003 at 07:48:45:

IM sorry. How about getting a job and do real estate part time? Good luck :slight_smile: