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Starting Over

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White8

Contributor
Dec 6, 2007
273
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Salem, OR
Back in 2008 I made a horrible mistake and bought a construction industry business just before the great recession. After spending everything I had to keep it alive, in 2016 I finally shut it down after being stiffed $35,000.00 by a general contractor on a BLM job. The only good thing to come out of that period of my life was meeting my wife and our three kids together and her daughter. I still own the property that the business was located on and am working to find a new tenant for the building. I am also ready to build mini storage units on the property but my attorney have been working for four years now to clear up clouds on the title as a result of the business so I can borrow and start construction. This four years of waiting around is killing me and I'm just not sure when it will finally be cleared up. That being said, I would like to start acquiring multi family properties with maybe some flip houses in the mix but am currently cash poor, can't borrow against the property due to cloud issues and the pending loan for the mini storage units, and my wife would have my head if I borrowed against the house. There are a lot of people with techniques that come up in a search but who is real and who is making money off of selling courses. I'm looking for ideas on how to realistically find good deals and push seller financing to the point of low initial investment while still making the property cash flow. Another issue with Oregon is a recent law limiting rent increases to once a year with a maximum increase of 7% + standard inflation.
 

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