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All Forum Posts by: Anthony Polcyn

Anthony Polcyn has started 9 posts and replied 38 times.

Post: Banker told me SFH rentals are as bad as printing companies

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

I have some SFR properties with low balances. I am using my local credit union to refi and using the cash for small multi-units. If your bank doesn't want to play, maybe you could look at a credit union. I am lowering my payments in the process as well due to low rates!

Post: I paid off a house in just 3 years!

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

Congratulations!  I have just recently listened to that podcast.  I have a few properties and am having trouble getting additional financing.  I am going to look into this in Columbus, OH.  Any tips would be appreciated!

Post: New Real Estate Major Feature Film "99 Homes" with Andrew Garfield - What Effect Does this Movie Have on Investors?

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

I lost my home and my whole portfolio when my business collapsed.  I was treated respectfully.   I have worked hard--legally--and now have 8 homes. 

I don't think I will waste my time watching this.  Maybe I will spend the time looking for another home!

Post: How I turned $10k into a $50k Line of Credit

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

Yes.  They just held my title as collateral--just like when anyone gets a loan against a car

Post: How I turned $10k into a $50k Line of Credit

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

I had a free and clear older vehicle that I let the bank hold as collateral instead of a down payment.  After the agreed upon two years, they released the title back to me and it is available to do it again.  That was a Carleton Sheets suggestion.  I may have to dust those tapes off and see what else I can do creatively!

Post: Did I choose the wrong profession?

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19
Originally posted by @Jeff Rabinowitz:

If you do not wish to be known as a liar be honest. If you wish to rise above the bad press represent your client to the best of your ability and do what is in their best interest even if that means you would earn a lower commission or none at all. 

I agree 100%!

Post: First meeting with an investor this evening! Guidance needed.

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

Kelly,

I would start by asking what your investors goals are and what rate of return is he looking for. Long term short term, retirement, cash flow.  One you know what he is looking for, you can look for investments that fit his needs. 

Post: What's holding you back in your real estate investing career?

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

Shiny object syndrome.  Staying focused on one type of investment and getting the job done.  I started reading "The One Thing" and I think it is helping!

Post: What's holding you back in your real estate investing career?

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19
Originally posted by @Linval T.:

@Davey Wilde - This is a great post to get BP members to talk about what's stopping us from moving from neutral to taking action with our REI career and get in gear.

It depends on how badly you want it. The bottom line is that you have to sacrifice your time by giving up the things you love to do. 

Example, watch less Netflix, TV or hanging out with friends regularly to drink and/or pass time aimlessly to name a few. 

Use this time to learn, develop and expand REI career.

Vigorously pursue private money, hard money or conventional loans if practical. Fix credit issues if warranted. Pursue JV partnership if needed.

Spend a lot of time searching for deals online and offline. It will be worth the time and effort when one is found.

Yes, deals are hard to find, but, frankly they are not going to find you, if you are simply sitting and waiting for one to be handed to you!

REI is a career that should/must be treated as your current or former W-2.

Why? Because, it's a job in and of itself whether you Birddog, Wholesale, Buy & Hold or Fix & Flip. 

So, my conclusion is that the only thing that's holding you back is YOU! 

Very true!

Post: has anyone gone through fortunebuilders program?

Anthony Polcyn
Pro Member
Posted
  • Investor
  • Jackson, OH
  • Posts 39
  • Votes 19

I feel you can get the information you need from this site.  Save your 25k and use that as a down payment or rehab funds on a fixer! Just my personal thoughts.