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All Forum Posts by: Avery Biles

Avery Biles has started 6 posts and replied 21 times.

Post: courses, mentorships and masterminds

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12
Quote from @Jacob Sherman:

feel free to reach out anytime with any questions in regards to the fix and flip process 


 Thank you as I get closer I will defiantly let you know when I have a question.

Post: courses, mentorships and masterminds

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12

I was thinking the same about bigger pockets that there is a ton of info for free/cheap. I would like to know a deal VS a no deal, but I'm going to as many local meet up as I can right now. I was just uncertain about this course since Brandon was in bigger pockets and didn't know if it was supper helpful or not. 

Post: courses, mentorships and masterminds

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12

I'm trying to get my first deal and in the prosses of educating myself. I have came across deal flow and was wondering if anybody has taken this course if so was it worth the investment and how much did it help.

Thank you,

Post: Good Lending questions

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12
Quote from @Nicholas L.:

@Avery Biles

can you be more specific as to what you're trying to get at here?  you wouldn't really ask a lender how many BRRRRs they've done... they'd ask you how many you've done.  =)

are you looking at DSCR loans, conventional, or both?

I'm not sure yet of what kind of loan ill have todo more research on the pros and cons of all three of these, And now that you mentioned that i can see them asking how many you have done haha.

Thank you, 

Post: Good Lending questions

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12

What are some good questions to ask a lender before you decide to go with them on a BRRRR, Other than how many BRRRRS have they done.

Thank you,

Avery

 

Post: Cash for downpayment

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12

Thank you for the help.

Post: Cash for downpayment

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12
Quote from @John Clark:
Quote from @Avery Biles:

We have a lender saying we cant use cash as a down payment for a house, and that we would have to distribute the money to family/friends bank accounts then get them to wire the funds to the the lender. I'm not an expert at this but something is off to me has anybody been told this as well.

Thank you,

Could be that the lender wants to avoid IRS/Treasury disclosure trouble for transactions over $10,000 (part of the know your customer rule).

So as another poster said; when you say “cash” do you mean physical notes that we all carry around in our wallets?

 Yes physical cash, I'm also worried about putting the money in to others bank accounts and then them getting taxed on the money because it'll look like income even if there just transferring the money to the lender.

Post: Cash for downpayment

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12
Quote from @Jay Hurst:
Quote from @Avery Biles:

We have a lender saying we cant use cash as a down payment for a house, and that we would have to distribute the money to family/friends bank accounts then get them to wire the funds to the the lender. I'm not an expert at this but something is off to me has anybody been told this as well.

Thank you,


 when you say cash do you mean actual cash? Like under the mattress cash? 


 Yes like under the mattress cash.

Post: Cash for downpayment

Avery BilesPosted
  • Investor
  • Posts 21
  • Votes 12

We have a lender saying we cant use cash as a down payment for a house, and that we would have to distribute the money to family/friends bank accounts then get them to wire the funds to the the lender. I'm not an expert at this but something is off to me has anybody been told this as well.

Thank you,