All Forum Posts by: Charlie DiLisio

I'm researching it also.  I have been acquiring credit cards for my business and I only apply for the companies that do not report to your personal credit.  So it does not affect my credit score.  I also have personal cards but never use them for more than 10% utilization.  Was wondering about the current deal they have now with the 2 for 1 partners and if you have to be in business with the other person.  That would drop the 3000 fee down to 1500.  Seems like a great deal if you can get at least 50,000 and pay the 3000 you have 47000 to use.  As I understand one method if you have a heloc you can write yourself a check to your checking account and then pay the heloc with the credit card for a 2% fee or less so for 50000 that would only be 1000.  I believe the fee and the 3000 initial fee would be a total of 4000 on 50000 so you would have the use of 46000 at 0% for a period of time.  Not sure how the 2nd and 3rd round would come up to but should produce that much more capital to use and the 3000 fee is already paid.  Doe this sound about right?

Looking for more reviews of fund and grow product.  

I will assume that you are buying it as an owner/occupant. Sounds too close for my money. I believe you can do much better with your 15k down payment. I think your closing cost will be more like 6 k but either way not much meat on the bone here. One months rent and one refrigerator takes away one year cash flow out of your pocket. Just my two cents. If you buy it and stay two years and sell I think you will make more ROI. Good luck.

I would check on his AMEX.  I have 3 of them and none report to personal as well as 2 Chase Ink cards which do not report either.  Definitely need to do due diligence first.  Yes on the personal guarantee but that is only to qualify for the card so the inquiry shows up.  I think the bigger problem was the utilization and they saw that as someone in trouble.  Everything matters in this day and age.  Wishing everyone the best.  

Just a note to consider.  I get business cards rather than personal and all of my business cards do not report to consumer credit therefore won't impact your credit score except for the inquiry.  

NO

Samantha, you state that you have down payment cash and something left over to live on.  If you have a 20% percent down payment many owners will work with you on owner finance terms.  I have obtained control of a property by using lease options, owner finance and subject to.  It is doable but risky if you run out of cash.  Why not do a joint venture with someone to give yourself a cushion.  You can't count on rents to make your payment.  Just some thoughts.  

Looking to obtain a business line of credit. I have checked with Chase bank who I deal with mostly and they frown on REI for lines of credit. I'm looking into NFCU and putting together a business plan for SBA. Difficult to obtain because they want collateral, which puts me personally at risk. I understand that nCino is the new kid in town for banking and looks great for streamlining the process but looking for more options. I use business credit cards and a heloc as well as cash and 401 funds but can always use more sources. Any thoughts? Thanks for anticipated responses.

Mirasol, are there updated photo's of this property I can show to my partners?  Thanks for your help.  

porcelain floor tile Is the most durable and value as well in my opinion.  Especially since it's such a small area I believe it' the best bang for your dollar.  Good luck.