All Forum Posts by: Gershom Lewis

Good Morning to All,

I am reading the book 4-hour workweek, and I am ready to start my journey. I spent the last 20 years in the non-profit, technology, and real estate space. I am a citrix engineer, I own a three family, and looking to build another one next door to me. I own a few buisiness. My goal is to be financially independent working for myself. The goal is to purchase more real estate (20+ doors) multi-unit apartment buildings, buy a few laundromats/business, and to create systems that does not chained to my desk everyday. I created goals, and timelines but I need help and guidance. I live in the NJ newark area. The top goals is to live where I want, learn as much as I can, and maybe create a school to teach what I learned to someone else. I want to learn to pass my knowledge on. The millions I want to make will come during this journey, but I want to give back as much as possible.  I want to make a difference in my life, and someone else life. I have the foundation of greatness, but I know I am scratching the surface of greatness. I know and feel I can do more. I am will to sacrifice, build, learn, and implement.

*Bigger pockets helped me get my first property. The second step is sometimes harder then making the first one.

Thank you,

Gershom

A builder gave me a estimate of 550k to 600K, depending on the finishes.

Good Day Bigger Pockets,

It seems that I reached a road block. I need additional funds to finish my basement, and to start builiding a new house on the lot next door to my present three family. How do I get funds without tanking my 750+ credit score? I can't take out any more loans that will hit my personal credit reports. I was already told I have to many accounts, even though the utilization is under 10%. I have three consolidation loans in which I can't remove the inquiries since they are current loans. I tried, and was told they are active accounts. I understand that, but makes my situation a bit more difficult. One option is to wait three months, and get some business credit cards under a new business I started so that it does not hit my personal. I need 20K to finish the basement for airbnb, and money for the site engineers to start my sub-division next door. Lawyer has been paid, Architect already has a down payment in which he created some plans already. Im not sure my next steps. My income is great, and my credit reports are spotless. Just don't have 20K to get me over this hump.

I am almost there, I can see the light but it gets further away when I think I am close. Once all said in done, I will have additional income from the basement, and a new three family house built which will give me additional income.

*Maybe apply to some lenders, and use the money on the credit cards to fund the projects? Also make sure I ask for enough to make sure I stay under 25% Utilization? Any feed back is great.

Thank you,

Gershom