All Forum Posts by: Jordan B.

@Ryan Mapes Did you make any progress with this? I am in a similar situation. I am looking for a card to use for rehab expenses and materials. I have the cash to use but would prefer to keep it in pocket and utilize a zero interest period and cash back/rewards since ill be spending $40-50K. 

Chase Premier Buinss Ink seems to be best card i found so far. 

- $1,000 cashback when $10k spent in first 3 months

- Zero interest for 1 year

- 2.5% total cash back on every purchase of $5,000 or more

- 2% unlimited cash back on all other purchases

- $195 annual fee but i plan to cancel after done using it. My cash back will outweigh the annual fee as well.

What do you think?

Hi All, 

I recently purchased another rental property and planning the rehab now. I expect to pay around $40,000 to $50,000 in expenses. I wanted to creatively finance this and take advantage of any cash back/rewards. The interest free period is also a plus. 

Has anyone done this? I am thinking about getting the Chase Premier Business Ink card.

- $1,000 cash back if $10,000 spent in 3 months

- Interest free for 1 year

-  2.5% total cash back on every purchase of $5,000 or more

 - 2% unlimited cash back on all other purchases

- $195 annual fee but i plan to cancel after done using it. My cash back will outweigh the annual fee as well. 

Is there a better card to consider? This seems to be best I found for my situation. 

Hello,

I have been struggling with determining my next move when it comes to buy and hold real estate investing. I have been buying single family rentals through just saving money and buying one every 2 years or so.

I have never leverages my properties and have some decent equity built up and would really like to take it to the next level, whatever that may be.

I really value mentors when it comes to my career and would really like to find someone who could lend me their time and experience to understand where I should be going next. I would be curious to hear how others may have found a mentor. It would also be nice to hear how those who have found mentors, how were you able to "give back" to them to show your appreciation etc.

Hello, 

I have some equity in my primary home and I am looking into getting a HELOC in order to fund my next two investment rental properties. I was curious as to what lenders people have been recently going with and why. Any advise you would give when evaluating lenders and their options? Is it ok to do this over the phone or would you advise going into a branch?

How about applying for a 18 month interest free card like Chase Freedom and rolling over into that?

What does everyone think about taking a HELOC out on my primary? I did the math and can take out $105,000. I would be able to secure two more rentals with that money.

@Doug Smith

Love it Doug. I'm going to entertain the idea of flipping between buy and hold deals.

I would get a 18 month no interest credit card. Chase Freedom card to be specific. Let me know if I can send you my referral code ;)

in your situation you don't HAVE to do this but this is what I do. I have 3 properties and none are under an LLC. I have 1 Ally Bank account but I keep a savings account for each property. I deposit rental checks to each and i withdraw from each for the monthly mortgage payments. Again, not necessary but this is how i like to keep it organized.

I feel like I am stuck getting to the next level and seeking advice from those in similar positions. So far I have been just saving up to buy the next rental property and feel like I am on the slow route to success. I have not leveraged any of my properties yet which includes both primary and rentals. All properties were purchased under my personal name and are not under an LLC. Here is where I am at currently:

Primary Property:

• Valued: $450,000
• Owed: $243,000
• Mortgage: $1350
• Interest Rate: 2.875%

Rental #1:

• Valued: $300,000
• Owed: $107,000
• Mortgage: $900
• Rent: $1,850
• Interest Rate: 4.5%

Rental #2:

• Valued: $270,000
• Owed: $116,000
• Mortgage: $910
• Rent: $1,650
• Interest Rate: 4.125%

Rental #3:

• Valued: $300,000
• Owed: $133,000
• Mortgage: $1040
• Rent: $2,000
• Interest Rate: 3.75%

I work a 9-5 job and with the rental profits above, I am able to save about ~$80,000 a year conservatively.

As I mentioned, I am feeling stuck with my current strategy of just saving up the money to buy and renovate each property one by one. I want to revise my strategy and start to leverage what I have in order to make quicker moves with future investments. Given what I have disclosed in this post, what’s my next best move? What should I start looking into? Any questions or additional information I can provide? I feel like there’s a clear answer here but I am just not knowledgeable enough myself to know what to do. What creative financing strategies do I have in this current market?