All Forum Posts by: Jeffrey A.

I'm new to real estate investing and Im looking to flip my first home. I have a relative that has some flipping experience (2 successful flips) kind of mentoring me along. He has used hard money as well as a line of credit from Chase for his homes. My home has an estimated $100,000 or more in equity in it. From what I've learned it seems that a HELOC is probably the easiest way to gain funding but at the same time it comes with risks if the flip isn't successful. I have a decent credit score (740ish) and decent income.

Should I go hard money, HELOC or since I have an LLC, try to get a line of credit?

Hello everyone. I've been trolling this site for some time and I am in the planning stages to start a towing business in the greater Cleveland (Ohio) area. Here's what I'm looking at:

I found some commercial property for sale that more than meets the requirements for starting a licensed towing business in Ohio. The property is mixed-use that when rented should bring in around $2200-2500 dollars.

Is it possible to get a SBA loan to cover the cost of the property needed as well as purchase a flatbed tow truck? 

If so, should I contact the owner or the realtor to get a purchase agreement that can be included in my business plan?

I'm sure I'm forgetting something but for now any help would be great.

Also, I am a 0% rated disabled vet if that helps and I am looking at around 200 to 225k to get started.