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All Forum Posts by: Lucas P.

Lucas P. has started 25 posts and replied 202 times.

Post: Buildium Referral

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

If someone could send me a buildium referral I'd really appreciate it. I'd be more that willing to pass to forward once I'm signed up.

Post: Business credit

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93
Originally posted by @Renee Cato:

How do you build business credit in the LLC name?

You need to start applying for business credit. To begin with, you apply with you as a personal guarantee. That's the only way to do it. After you establish a history, you can continue to build that business credit without your personal credit having anything to do with it.

I got over $50k recently on revolving business credit and I max it out to do all my rehab work on my properties. Doesn't effect my personal credit history and as long as I'm making the minimum payments, the lenders love me. Bonus is, I'm paying no interest. Can wait to reapply again and try for more credit. It's really helping me get more deals done.

Post: 50,000 line of credit

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93
Originally posted by @Matt Good:

@Ty Downing I'm curious as to how your 50k LOC panned out with NFCU? I recently formed my LLC, am a Veteran and have been shopping around for LOC start up capitol. Is there a minimum number of years that they require your business to be established? Thanks!

I think 2 years is a good bet for your business to have behind it, however I hear it can be done with less. I just got over $50k revolving credit setup and because it's business credit, I can max that out and it won't affect my personal credit score. I will be using that to fund the rehabs while I use personal funds to take down properties. Once I sell the property, I just pay off the LOC and repeat. Apparently, in 6 months I can apply for 3 times as much.

It was an easy process in the end and took about a month, but you do need to have decent personal credit of about 700+. More than happy to share those details.

Post: Looking for financing on $50,000 purchase

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

If you are a hard money lender offering me 12%, please save your time. That is available to me every day of the week. I'm looking for as close to conventional rates as possible.

Post: Looking for financing on $50,000 purchase

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

Hi,

Please contact me if you know anyone that can finance a Florida property in the Saint Petersburg area.

I'm looking at a $50,000 purchase price, and am requesting a minimum 70% LVT. it is a rental with tenant in place paying $800 per month.

Post: Best Realtor Custom Website

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

If you are in a competitive area, these out of the box sites will be very ineffective. If there's 10 agents using these sites, how exactly do you think you will outrank the next guy using the same service? 

Customized and targeted SEO is the way to go.

Post: Newer 2006 Build - Great Rental - Phoenix Arizona

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

This will sell in 24 hours if no other offers come in.

Post: Great Dual Option - Rent or Flip - in Phoenix 85053

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

Yes, still available.

Post: Newer 2006 Build - Great Rental - Phoenix Arizona

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

No seller carryback at that number. Cash or HML

Post: Newer 2006 Build - Great Rental - Phoenix Arizona

Lucas P.Posted
  • Wholesaler
  • Scottsdale, AZ
  • Posts 227
  • Votes 93

5338 W Albeniz PI Phoenix 85043

  • 3 bed, 2.5 bath
  • 1398 sqft
  • Month to month tenants paying $845 per month (below market rates)
  • Pool
  • Below 70% ARV

Price $100,000 - Call Lucas on (480) 485-2221 for more info