All Forum Posts by: Andrew Flora

The neighbor is offering to sell his house to me off market at a great value. I have 40% down payment and amazing credit score and credit history. The issue is that I am self employed and I dont show any income on paper, so the bank won't consider loaning me money due to "low income" This is an amazing opportunity and I have it under contract but I'm about 100k short, how do I get that financing to get to the closing table? Thanks

2016 model truck? Dont do it! You can buy another door or 2 with that money! Like others have said an old mini van or cargo van is perfect or an older truck. Dont finance any vehicle

Hello!  I’m also looking to network with other Hoosier investors.  I invest primarily in the south central region of Indiana.

thanks everyone! 

@Timothy Maloney The combined value is $250-300k and revenue is $43k annually. Every local bank in my area has refused to give commercial loans for rental homes.

I own 2 duplexes and 2 SF rentals(6 doors) all free and clear. My problem is that I can't find a bank that will allow me to get a HELOC on my investment properties because they only offer a HELOC for a primary residence. I can do a cash out refinance but that's not the route I want to go. Any advice?

If you're serious about FI do this: Forget about the MBA, opportunity costs are too high. Leave NY. You can easily make that salary in a different city and cut your living expenses in half. When you move, start your portfolio with a house hack. With a strict budget and strategic investing you will be halfway to FI by the time you would be graduating with your MBA. In 10-15 years quit your job and invest full time from a beach somewhere.

I dont like window units for several reasons. The biggest being that they usually destroy the window and the moisture causes mold. Central air is a good fix but can be costly to install and will have expensive maintenance costs down the road. When I bought a duplex without central air I had my handyman cut a hole in the wall and permanently mount a 15k BTU unit there. It was 90% cheaper than central air, much more efficient than a window unit, and doesn't create all the problems window units do. Dont be afraid of the investment but plan to change it in the next 3 years.

I'm not a legal tax expert by any means but If I were you, I would rent them then use a 1031 exchange going forward to trade up after rehabbing.