All Forum Posts by: A. Maldonado

Thoughts on using a personal line of credit for unexpected expenses as opposed to just saving money in a an account and using that. 🤷‍♂️

@Alex Olson so when it comes to investing do you still use debt to grow your REI business?

I've been trying to explain to my wife I'm open to learning from that University thing but I feel the second they start talking about investing (specifically RE) I might check out since he's so anti REI using debt unless it's your own house.

So the Mrs wants to do Dave Ramsey's Financial Peace University. It's what our friends do who have done well with savings and whatnot. I explained to her Dave's take on debt related REI however I told her I would still be willing to do the class to maybe learn something, thoughts?

So now that we are real deep in the epidemic and some have lost their jobs how have some of you been able to adjust with your tenants no longer having any income? I’m assuming you have reserves but has it been a strain?

So from my understanding banks will eventually turn you around after you’ve hit your 10th loan.... some earlier....

My question is, how do you you get more loans to get more deals and more cash flow?

Do you sell a few of your little properties into a bigger property (would eventually be one loan with that move)?

Are there other ways to finance future properties?

I was told line of credit but I’m having a hard time understanding it.

So I know podcast have been recorded and blogs wrote about how it’s ok to maintain a job and invest at the same time. But do y’all know any full time cops out there who RE invest on the side?

I know that after I retire from the army my heart will want to do LEO work.... it’s obviously a dangerous job but I know my mind will want to continue serving in that capacity.

What would be some unique challenges being a police officer and side RE investor?

Car A is 28k

Car B is 22k

Currently paying on a zero interest credit card that will soon have interest added to it, also paying on two cars that we stupidly got.

Car A has 10k of negative equity on it. We don’t want to keep this car forever and want to get rid of it when we are financially able to. We’ll get a small beater in it’s place that we can keep.

Car B only has 3.5k of negative equity on it. We like this car and want to keep it till the wheels fall off.

Both cars are 4% so our credit is good.

**Our question is, once we pay off the credit card, should the $600 we’re paying towards it go to Car A or B, explain.

@Ray Johnson yeah that’s why I mentioned direct deposit. That how I would do it personally.

@Brent Paul so I guess my next question would be what happens with the money when you reach your reserve goal (you have 3, 6, 12 months of money for expenses). Do you send the excess to your personal?