All Forum Posts by: Clifford Paul

 3/2 is the money makers although I own a couple 1/1's that have preformed fantastically. 

Just my 2 cents as I have bought 10 plus VA foreclosures.

1. VA foreclosures go fast for asking price or higher. The VA already has discounted the home by 20 to 30 percent.

2. They will not negotiate price in first 30 days... it's unlikely to find a VA foreclosures over 30 days on the market.

3. Cash offers at asking win most of the time. 

4. Inspection are for fun on a VA foreclosures, most are sold as is.

Good luck,  let us know how you do. 

A lot of great information here on credit card usage so I will add more because when I was building my first portfolio I used credit cards to buy and rehab homes. 

1. When you have great credit and lots of income you can definitely get $100k cards. We currently have over $250k of available card credit. 

2. How do you get the money off credit card? Once again when you have great credit and high available credit limits you will receive blank checks in the mail. We get at least 5 a week... they really want us to use the offers they send. 

3. Yes! You will pay a transaction fee, anywhere from 0% to 3% with excellent credit. However I understand it can be higher for folks with not so good credit. 

4. I have received offers from 6 to 18 months.  Actually just got 2 in the mail today from USAA 0% for 15 months with a 3% transaction fee on 2 different cards.

5. Best cards offers we get are Discover cards,  Citi bank and USAA in that order.  Discover usually offers 0% for 18 months and 0% transaction fee.  

6. We no longer use cards to buy houses because we are strictly A&B properties now. However we do still use them for rehab funds.  It's hard to turn down free money and with 18 months to refinance a rehab it's little risk. 

This reminds me of a parent telling their kids to eat all the food on the plate because there are starving children in China. 

Well mom are you gonna box up the leftovers and send them to China?

* I'm not an attorney and this is not legal advice *

The great thing about America is you can file a suit against anyone including members of a trust or LLC. There's a lot of miss information on bigger pockets about asset protection because the facts are if you get sued you will be named in the suit to include you, partners or members of a trust or LLC. So don't believe the hype posted a million times on BP. As for the parcel of land you want to buy I would say find something else to buy unless the seller is willing to clear the judgments before going under contract.

Nope! 

But the question to LLC or not LLC is asked thousands of times a month on BP. If you use search you will find at least 30 days of reading material on the subject. Good luck!

 Most of our 0% for 18 months came form Citi bank and  Discover cards. 

You can negotiate seller pay closing costs but you probably will have to make a full price offer or above asking to make it work.  If the numbers still work why not go for it. 

We have been buying ranches for the last few years. Currently have 3 and looking to add another next year.  

There's a ton of ways to make money with raw land.  However it all comes down to location. Sounds like you figured that out as you want to buy on the fringe of urban creep. 

One ranch I bought in 2014 for $2000 an acre is now valued at $10,000 an acre. It's the  only acreage available in the area as everything else has been bought and turned into subdivisions. I have few offers at $10,000 an acre but I'm keeping it another couple years to maximize my returns.