28 y/o looking to get out on my own

[grub1040]

Well, I've got the entrepreneurial drive but I've also got some serious debt due to some medical expenses for my son. I started a real estate investment business and have 3 rental properties going right now. I'm into the buying foreclosures and fixing them up and attempting resale (which ain't gonna happen right now) or renting them out. I have a full time job working with an insulation company that is my main source of income now and it's a pretty good gig so I can't complain there. Because I've hit so much debt though and with the credit industry being like it is, I'm probably not going to be able to get financing for anymore houses until I can dig myself out. I'm looking to get into the dropshipping deal. I just recently created an account to sale some things on ebay and made some decent money off of things I don't use anymore. I like doing that type of thing so I figured dropshipping might be good to get into. I'm looking for another stream of income to help actually pull me out of debt because with what I make at my job and what I make on the rentals is just barely enough to pay all of the bills. I'm curious and open to any suggestions. Does dropshipping really work if you find the right wholesaler? Do you suggest starting a website or trying to sale on ebay and craigslist or all of the above? Anyway, I'm here because I have the drive and want to build up my monthly income so bad I can't stand it. So hello all and I look forward to chatting with you.

[kimbeckers]

I am sorry to hear about your situation but it sounds like you have the drive to overcome it. Drop shipping can work if you find the right drop shipper. Selling on ebay using a drop shipper is going to be difficult as it does not leave much room for profit. I would suggest starting a website instead of doing the whole Ebay thing if you are looking to do the drop shipper thing.

I am not sure what niche you are looking to get into but regardless it is imperative to find a reputable drop shipper. You may want to check out WorldWideBrands.com I have used them for several drop shipping ventures with much success and so have other people that I have known.

Another option that does not cost much to start is affiliate marketing, you can make a simple WordPress site, sign up for some CPA networks and promote your site through article marketing and craigslist and such.

Let me know if I can help.

Good luck,
Kim

[grub1040]

Thanks for the feedback Kim.

[TeeJay]

Hello grub1040 and nice to meet you. I was a former agent/investor myself. Just on pause now till I get things situated...Anyway I agree with Kim Beckers. Internet Marketing through affiliate programs is the way to go. No Fees. No Dropshipping. I've just started in it a few months ago and I'm doing pretty good now. Check out clickbank.com, their one of the best affiliate networks out there. There are soooo many to choose from.

Any way good luck.

[grub1040]

Thanks TeeJay

[grizwold]

So many investors get into this situation. Over the last two years I have flipped over 40 homes in the Detroit Metro area. I currently have 3 rentals right now just because I got caught at the wrong time with the whole lender crash. So depressing...lol! What made you get into flipping/rentals? There are some ways to get out of them if your not over leveraged. Have you sucked out all of the equity? Are you making a positive cash flow after taxes, insurance, evictions, etc.? Hopefully you have good tenants that actually pay! The only reason why I asked is you pry have to put up some money for this new business your trying to start. I would try and sell off your real estate portfolio first and then make the moves to start something new. Hope it works...let me know if I can answer any real estate related questions for you