Hi everyone! Hope to network, etc., to help my finances situation, + more.

Hi all,

My name is Ralph. Nice to have a free forum on R.E. Tipster.

So, I know I could type a long post of why I wanted to get into real estate investing many years ago.

I'll try to make this short.

I had good enough credit scores in 2018, that I took out over $40,000 in personal loans.

I thought about investing in turn-key real estate, and/or other ways to help pay the loans back (I had wanted to invest/get into real estate for years, at that point in my life).

Instead, I bought many insurance auction vehicles, to flip. Some I tripled my money. Some I lost money on. While 2 vehicles I owner financed.

In 2019, I read about R.E. Tipster's coaching. So I sent and email, and Jaren replied back. I knew that I couldn't afford, and Jaren was honest/transparent about what I needed to be able to be coached. I was a year too late, I thought to myself. Guess it wasn't the right time for me.

Today, I work a job that sometimes stresses me out, along with the stress of my bad financial decisions made in 2018. I'm looking for a side hustle, to payoff my debts faster, and to not have to rely on a job that isn't gauranteed, or the safest environment to work in.

I am sometimes researching online, for creative ways/creative ways to finance, to put my first real estate deal together.

Maybe I can find that missing piece here.

Sorry, It was longer than I wanted.

Thanks Seth and Jaren!

Welcome to the forum @letsclique! Glad you made it here.

If you're looking for some other side hustle ideas, you might find this blog post interesting: https://retipster.com/side-hustle-ideas/

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Hey Ralph,

Not go be the negative one here, but your post begs the question: Why did you take out 40k in personal loans?

If you start out any side hustle, taking a big risk (ie being brand new in an unproven market like your vehicles) and using complete leveraging, this kind of tjing can happen.

Now, that being said, I wouldnt say you are a year two late or anything, its never to late to make a financial change. Perosnally I would reccomend you get your personal finances in order and create a plan to repay that debt using your primary job income.. While you repay the debt dedicate a certain amount of time (and even budget some money) to study the side hustle you want to get in to.

You can learn the basics of most businesses from Kindle books and blogs, at least to undertsand the risks, moving parts and if it is for you or not.

Personally I would get some of my own money saved to start with first, and after testing the model, and learning what works, investigate the possibility of using leveraging (loans).

I have NEVER used my personal credit to build my real estate business, so dont let that credit score deter you. Eventually you will be able to access portfolio loans, if you build correctly.


@jawollbrink, I took out the loans mostly for buying insurance auction vehicles to fix and flip (though my girlfriend said she would have stopped/advised against taking out the loans, had she known what I was doing).

At one point, I asked a co-worker/immediate supervisor, who was somewhat educated, what he would invest a certain amount of money in (as the loan proceeds were dwindling), if he was me. I also told him about a turnkey real estate company I found out about from BiggerPockets, and he said he'd check it out, but he never did. I was looking for things that would make me cash flow, to at least help pay back some of huge debt I took on.

On the good side, I invested $500 of the loan money in Lending Club ($25 for each loan), and it's still doing well. I only have one recent defaulted loan, in the time I started investing in Peer-to Peer loans, but I saw that coming, with the Covid-19.

Thanks for the question, and the reply. It keeps me positive to read from other people.

@jawollbrink Hi Im completely new to this world. Could you elaborate on the last three points of your post? I would greatly appreciate it!



1. Real estate investing. You can pay for a course (I would reccomend RETIPSTER for land investing) but when you are just getting started, for cheap or free you can watch youtube videos and read books. Spend an hour learning every day and in a few months you will be understanding a LOT more about it.

2. Getting your personal finances in order. Get the basics of an organizational system/ budget etc and your accounts set up. Profit first is a great principle that can be applied to your personal finances as well.

3. There are SO many ways to finance real estate deals.. I would reccomend saving up and having some capital. But you can ask for owner financing, find deal funding partners, etc. If the deal is good enough, you will always find the funding.

Hope that helps?

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