All Forum Posts by: Daniel Long

Anyone have any success/horror stories about credit card funding? And best companies to work with that gathers the funding for you?

@Tymon Greer does your landlord own the house outright? If so, he already knows your payment history to him. Ask him to owner finance it. Welcome to the game!

@Ceasar Cifuentes I just did a major rehab as well and learned a ton. I saved thousands and that was a winning feeling In Itself. No matter which way I go, I am definitely doing what work I can do myself.

@Cameron Norfleet it is conflicting and driving me crazy. Lol. My ultimate goal is have passive income pay for everything. “Financial freedom”. However, I’m not comfortable with the amount of money I have in savings for more properties and/or a turned market, major repair, etc. My current properties cash flow nicely but I have little room for error due to continual reinvesting. I’ve never done a flip and thought a couple might give me a cushion where I don’t breathe in a paper bag every time I put a down payment on a house and start rehabbing.

@Jay Hinrichs, where are you getting new construction money? My banks that finance my flips, rehabs and holds are all a firm no on investment new construction.

@Curtis H. I have 5 STR’s and have used amazon and IKEA for everything and it was seamless. You have ikea in ATL at your disposal which is gold. Be careful with your security cameras, guests are not fond of that.

I’m purchasing a property that is currently a duplex. Needs about 25k rehab. Dilemma: duplex comps in the area are scarce and mediocre. I was told by an appraiser that if I remodeled the property back to a single family property my appraisal would be much higher. If I do that, I would come out of pocket less due to refinancing LTV but monthly income would be about $300 a month less than if I keep it a duplex. My objective is maximize passive income but also spend as little out of pocket as possible. Anyone have any insight that has dealt with this?