All Forum Posts by: Franco Li

Good ways to increase your credit card is to have it (i.e. credit cards) then use it and pay it off. There are tons of websites online to find out how to enhance your credit score. To be honest, I think whats more important from a lenders perspective is (1) Debt-to-income (DTI), (2) savings and reserves, (3) years of credit history. I would totally scout properties and crunch the numbers to understand how they work, but would save up first, or syndicate a deal!

All,

My colleagues and I have created a free real estate analytics platform, in hopes of allowing amateur and professional investors, agents, and lenders to get an unbiased and independent feel for their opportunities. Crunching an investment property is now multi-dimensional, shareable, and tremendously easy. You can run stress scenarios and observe market data, and even get sensitivity analysis on rental rates.

Check us out! Its free to sign up, and free to use. Good luck all!

www.divismart.com

Sincerely,

FL

This is funny, but nice that you are thinking of creative solutions. The problem is, the next lender in your strategy will look at your total debt and DTI - along with any of your savings. It almost makes it impossible to do this - unless possibly if you got a really stupid private lender.

Wow this seems like a fantastic idea, but I've never had luck on securing multi-year on my tenants due to the location. Keep it up!

Jassem's ideas are spot on. Don't worry about the expenses because at that time you'll have more to worry about, and why pay additional monthly premium for an eviction that can be avoided w/ good screening. Good luck!

Actually, you are brilliant! A lot of people don't understand the ideas behind leverage, and securing a good investment strategy starts with the proper loan. You are absolutely right, in that your 100% cash payment is essentially equal to 2-3 downpayments, generating a hefty multiple than 1 house. 

I do think you should network a bit, especially on here, and you'll find a ton of areas with lots of opportunities. Don't take the road trip just yet! 

-FL

We are free to use and shareable easily!

If you have enough liquidity, I don't see why anybody will deny you - also assuming you have substantial savings and a good credit. I say this more for local lenders and credit unions since conventional large lenders have strict criteria. Good luck!

1% margin is actually quite good. After your teaser period ends, your fixed rate will be adjusted depending on the current WSJ prime rate + 1%. You'll have that for the year, then it'll be recalculated every year thereafter and fixed annually. 

@Alina Trigub

Thanks! Definitely connect with me outside of BP!