The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Getting my ducks in a row

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

ryanbleau

Silver Contributor
Speedway Pass
Jun 22, 2014
249
559
245
37
Scottsdale , Az
I've owned a few businesses and im sure some people have seen my threads about my last one I ended last year. Been working for a tech company the last year since I moved to Kansas and haven't pursued building another business. I'm starting to look at real estate within a 2 hour radius of where I am and it seems really cheap to get into as far as flipping or rentals. My back ground is in general contracting so the nuts and bolts of it are pretty easy. Long term goal of it is to flip or buy properties for rental income while building a general contracting business that runs without much of my influence on the day to day.
Positive things I have going for me right now: own my house outright, consistent income, wife is going back to work in the fall. She will have her Masters in psychology and we anticipate either state or federal employment.
Negative things currently: One income, high debt to income ratio. We lived off credit cards for a while and are trying to pay it all down.
Not a lot of wiggle room currently to start new projects but I have a sizeable disbursement coming in the next month or so, and with what I have saved I can get into an cheap but labor intensive flip.
Putting together a solid business plan, but with the high debt to income ratio loans arent going to happen. Will not put a mortgage on my house to pay for anything. House has been in the family for 100 years and wont pass a mortgage inspection.
Working on figuring out how to generate an extra stream of income although I'm finishing up my degree and should be done by sept.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Kill Bigger Incubator
I've just concluded my program with Kyle. The incubator gave me what I wanted. Now, working on a...
  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
Thanks for the detailed response. I see it similar, in the beginning, you have only a small...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
The day I can afford to pay 800 a month to have someone keep me accountable is the day I've won...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom