All Forum Posts by: Charles D Cruz

Very unlikely 

Yes. You might be required to do another appraisal, or they might try to use the current one.  But you can always challenge an appraisal.

has anyone used a portfolio line of credit against a brokerage account?

Thinking about using it to make cash offers on MF, then refi MF to repay. So that I could become my own hard money lender at 3-4%. 

This is about the only thing I could think of to get a 250k + line of credit to buy MF cash offer then refi to a mortgage.

thoughts? Experiences? Opinions?

I think that none investment income effects everyones goals to a significant amount. Easier to build passive income with 400k w2 income than 50k w2 income.

but goal is $30k/mo within 10 years.

How many leveraged units? Free and clear? NYC units? Units in Tennessee?

40 units-500 units

Easier than unit number, assume 7-12% Cash on cash on initial investment. Most properties take 3-5years to start cash flowing really good. This is assuming you leverage.

This is a great time to learn though. If you can survive a down turn. Good economy is cakewalk.

Its crossed my mind also. Probably will do it eventually, i do better than a 401k anyways.

If your meaning to set to auto renew for another full year. I would say no. Keep what you got or do auto renew to 30 or 90 days at a higher rate.

Yes, but but real question is when. And no one can give a solid answer for that one.

3 things

1) the property is mine. I keep it nice and well maintained, because its mine. 

2) don't set the precedence of being pushed around ever. Once a doormat, always a doormat. You have a lease hold them to it; but more importantly hold yourself to it.

3) rentals or any business if they say lawyer or sue. Every single piece of communication goes through my lawyer.

If you think you might need a lawyer. You been one. A few hundred for peace of mind is well worth it.