I feel as though I totally wasted 2009. I climbed relatively fast in 06,07. I bought four houses within a year and rebuilt them all and got them rented to good tenants.
It goes down hill from there.
Doing the above amassed alot of debt that i'm having a very hard time knocking down. Only one of the properties flows enough cash to be considered succussful (it actually keeps the others alive).
My problem as I see it, I need to dump the bad houses but they're underwater and the rents are high end of the market. I also need to knock down the debt of rebuilding them.
Actually, I would be sitting just fine were it not for the plastic. My contracting was so slow last year I ended up settling 60k (about half) of the debt. That helps but I still cant get back into the game.
Any suggestions here that may put me back on track would be greatly appreceiated.
I know i'm not the only person here to land in this situation, so what did you do to get out. I'd love to hear your story.
I have considered joining up with another investor that I work with occasionally in some sort of equity share deal. The guys i'm thinking about arent carpenters and i'm a licensed builder so I do bring alot to the table, just no money.
It goes down hill from there.
Doing the above amassed alot of debt that i'm having a very hard time knocking down. Only one of the properties flows enough cash to be considered succussful (it actually keeps the others alive).
My problem as I see it, I need to dump the bad houses but they're underwater and the rents are high end of the market. I also need to knock down the debt of rebuilding them.
Actually, I would be sitting just fine were it not for the plastic. My contracting was so slow last year I ended up settling 60k (about half) of the debt. That helps but I still cant get back into the game.
Any suggestions here that may put me back on track would be greatly appreceiated.
I know i'm not the only person here to land in this situation, so what did you do to get out. I'd love to hear your story.
I have considered joining up with another investor that I work with occasionally in some sort of equity share deal. The guys i'm thinking about arent carpenters and i'm a licensed builder so I do bring alot to the table, just no money.
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