Offlinehere it is...i'm being levied for income tax, i'm behind on my own property taxes and have judgements from three taxing entities against me that won't foreclose the property as long as i set up a payment plan with them. the levy on my paycheck only allows me to take home $500 a week max and that barely takes care of my family's living expenses. adding the payments to the property tax entities is gonna break the dam eventually. i've always wanted to get into flipping properties and building passive income thru real estate. i need money now and think this kind of thing could be my saving grace, but i need to start quickly and cheaply and be able to expedite some kind of money incoming now. if for no other reason than to be able to make the monthly payments i set up with those taxing entities. i need help now and i want to get started the right way and in a manner i can sustain till i get them off my back and can begin building my own income instead of paying it to someone else. i need the best advice i can get...those property tax judgements total just over 10k. i get rid of those i'll be able to breathe again.
Financially challenged in serious situation needing best start possible
Posted on: Fri, 11/12/2010 - 02:54
Financially challenged in serious situation needing best start possible
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- by ChipSaurus
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I'm just starting out as well. Networking is a big part of being a real estate investor (REI). So the first thing you ought to do is fill out your profile and let people know where you are and what you want to do.
Best of luck!
Thanks, Nadine
** Realtor/Investor in Lancaster County, PA
His Hope Enterprises LLC
Creative real estate solutions --> www.GetMeOutFromUnder.com
Traditional real estate help --> www.LancasterHomeHelp.com
Listen I truly feel for you and I know this may not be the ideal thing you want to hear, but if you are barely able to pay for your basic necessities now, the reality is for someone starting out a RE check is not coming in time for you to take care of the matters that need to be taken care of.
Your best bet and the most logical thing to do is to get a second job to help sustain you and do the RE during your downtime.
The truth is you know nothing and to get started, truly understand, find a house, find a buyer, get the financing, etc, etc, you're looking at realistically 3-6 months. Most on here will tell you to follow your dreams and never stop, but you've got mouths to feed, RE will always be here. Take care of what you have to before you go headfirst into something that you have no immediate control over.
Good luck to you
A lot of people, including myself, started at the bottom depths. Read Matt Larson's story. Read Greg Murphy's story. There is a way. Get your life, financially and personally, in order. Do what ever it takes. Ask for help anywhere - family, friends, banks, employers, etc. Downsize your life. Like Matt Larson did, sell what ever you can. Focus on everything positive. Life is hard enough.
As you read and study Dean's resources you will notice a common theme. That many successful people in this business overcame adversity to get where there at.
Good luck, work hard, be positive. Good things will happen.