All Forum Posts by: David Levitt

@Joe Villeneuve

When you say "you've done this", do you mean you have used an LOC/CC and seasoned it for a down payment or you used it for rehab? Can you give me an approximation of how many times you have done it?

@Marcus Johnson

Your method would be my preferred method long-term, it just makes sense. 

Hey all,

I wanted to get some thoughts on obtaining properties and rehabbing properties using LOC's from a local bank and CC's. Pros and Cons? Stories and experiences about how you have successfully done it or how it turned into a disaster? Would love to hear all thoughts on the subject.

@Elizabeth Colegrove

Thanks for the encouragement.  To be honest I have been learning a lot and practicing the best I can, running mock numbers and situations to try and learn all these rules, but I found I was running into some paralysis by analysis.  It's good to be encouraged to do what works for you and your market.  That is really the conclusion I have been coming to.  That does not mean I am going to throw out the numbers game, just be flexible like you said.  I am looking forward to checking out your blog.

@Paul Timmins

Thanks for the suggestions on resources. I have already been diving into most of what is available on biggerpockets, but the books you mentioned are on my list. Any suggestions on how to locate an REIA meeting? This is a small town and there is a good chance there isn't one. Would a good realtor know? Would it be beneficial to go to one even if it was out of my local area?

Hey Everyone,

I first want to thank everyone at biggerpockets for providing helpful and honest insights into REI. In college I worked for a property management company doing maintenance. I loved it and always wanted to have properties of my own. I currently work in full-time ministry in Thomaston, GA but my family is growing (fourth baby on the way) and my wife and I would like to have more. As you know more kids means more money. I would like to begin investing in buy and hold rentals with the hope that as my kids get older and we have more of them I will be able to supplement my income to provide for them and help them get started with their future when the time comes. Thomaston is a small old mill town of 10,000 with lots of older mill homes. The stats that I saw showed that almost half of this town rents, and most of those are SFR. Also renting out in the county is popular too and often times more profitable. I would love, love, love to hear from anyone in the area. Thanks again to everyone for the valuable input and I am happy to be a part.

Turned out to be a browser issue.  Safari needed updating, but I went on ahead and downloaded firefox and that fixed it.

Thanks Ceril,  I will try that and let you know how it goes.

Hey Everyone, I apologize for starting a thread about not being able to get my profile pic on here but none of the searches I have done on the forums has seemed to pull up an answer for me.  I am a newbie and want to give my introduction, but would like to have my picture up first.  What happens is that when I click on the tab to upload a picture, absolutely nothing happens.  Nothing pulls up, no options, nothing.  I am using a Mac.  Is there some option to block things that I need to turn off?  Thanks for any help and suggestions.  David