All Forum Posts by: Marjorie Patton

@John Morgan - super helpful! I knew there were others out there going through the same thing :) 

I agree- we've been able to work with investor-friendly lenders to secure conventional loans that allow us to buy properties and honestly, i've never really leveraged credit cards for RE or RE related purchases so this was slightly new territory for me. But if CC companies/banks want to offer 0% interest for a period of time, I'll try and figure out a way to take advantage if I can!

Really appreciate everyone's feedback! I did want to let everyone know that I took @Brandi K.'s advice and submitted an application under our LLC and was approved instantly! The line of credit wasn't much but it was more than we needed for this project!

@Jill F. - so funny you've had good luck with Home Depot as we asked them to increase our limit and they absolutely wouldn't. I wonder if it was because it was under an individual and not a business.

@Nicholas L. - I'll try AmEx next time; I've been a card member of theirs for a long time. I tried calling Chase on the United Card once to take advantage of their newest offer and they weren't having it. 

Thanks again, All! Love this community!

Not the most helpful response and I'd hate to see this thread die here...

I understand why creditors use DTI it just doesn't tell the full story of an investor and their ability to pay.

Has anyone else been frustrated by this and figured it out?

I'm super curious if anyone else has encountered this issue...

We are RE investors in Denver - we've got 3 investment properties (or 5 doors). We have >$2m in debt spread across the investment properties and our primary residence. While we are both gainfully employed and have good income, our DTI (Debt to Income) is obviously incredibly skewed even though our properties cash flow.

The other day, we found a great credit card offer to finance a purchase and get 21 months with 0% APR. We were going to put a hot tub into one of our STRs. BUT, once we applied for the card, we were rejected immediately because our debt is so large compared to our income because DUH, we are real estate investors.

I figured a lot of other investors might have run up against this issue and I was wondering if anyone figured out how to work around it. It's a bummer to not be able to use free money when it's offered to you. 

Sincerely,

WonderingHowOthersDoThis

I thought others might be interested in checking these out! Bidding starts at a dollar, no reserve price. I have experience with Ten-X, let me know if you have questions!

Multifamily for Sale in 900 15th Ave, Sidney, NE 69162 - Ten-X Commercial

Multifamily for Sale in 1440 12th Ave, Sidney, NE 69162 - Ten-X Commercial

We have a very exciting guest speaker for the next investor meetup on Aug 31st! We'll be in the same location as before- Oasis Brewing Co. (3257 Lowell Blvd, Denver, CO 80211) and we'll go from 6pm-8pm in their upstairs loft.

Come learn about short term rentals, AirBnB, and more!

A little about Zeona, our guest speaker:

Zeona McIntyre owns seven properties, manages 20 (& counting! worldwide). She teaches others how to invest in properties with Airbnb in mind & create automated businesses. She lives in Boulder, CO half of the year and spends the other time traveling the world as an International Pet/House sitter.

https://www.biggerpockets.com/users/zeona#0
https://www.zeonamcintyre.com/about

Excited to host a meetup for women in and around Denver looking to meet other like-minded women who want to talk real estate and investing! This group has had a bit of a hiatus due to COVID but I'm so excited setup time for us all to get back together again!

No set agenda, just an opportunity to get together, meet new people or see friends, and talk about real estate/investing! Oh...and have an adult beverage if that's your thing :)

If you've attended this meetup in the past - excited to see you or if you're new to the group- come on over and we're looking forward to meeting you!

Marj

Hi Ladies!

We have a great opportunity to get together (virtually) and hear from Carol Scott. If you are a Bigger Pockets fan, you might recognize Carol's name. Her and her husband, J Scott, literally wrote the book on "Negotiating Real Estate" and built a successful real estate investing company. I've included one of the podcasts she was interviewed on in case you'd like a sneak peak.

https://www.biggerpockets.com/blog/biggerpockets-money-podcast-79-carol-scott

Some of the topics/questions we'll be covering on the call include:

• Carol's story of how she got into real estate
• Transitioning from a corporate job into full time real estate
• How to balance family & real estate
• How to negotiate real estate
• How Carol and J.'s strategy has evolved over time to current market conditions

If you have any additional questions - please let me know and i'd be happy to include them on our call!

Marj

@Angie DeNardo, congrats! We drove past this house multiple times and I wondered who finally landed it! Not a lot of people posting about house hacking in Arvada- would you mind posting the outcome once you find your tenants (I know you will!)? 

@craig curelop- doing what he does best! Cheers, friend!

Hi Ladies! Sorry for the late invite but the February meetup is on! On the 25th we'll have Laurie Quercioli talking about CREDIT! - understanding your credit and what you can do to change it. I look forward to seeing you all!