All Forum Posts by: Mark Jones

 So is it possible to use a personal guarantee, and obtain business credit in the form of lines or credit cards, and could we use these business lines as down payments for investment properties, while we use our personal credit history to get traditional financing?

For example getting a personal guarantee backed business credit line of 30k, using it for a downpayment on a 120k asset, and getting the other 75-80% financed traditionally by a bank? 

 So assuming we actually use a personal guarantee, could we obtain business credit in the form of lines or credit cards, and could we use these business lines as down payments for investment properties, while we use our personal credit history to get traditional financing?

For example getting a personal guarantee backed business credit line of 30k, using it for a downpayment on a 120k asset, and getting the other 75-80% financed traditionally by a bank? 

I have a personal line of credit but my mentor has advised me not to use my personal lines for downpayments and instead to get business lines of credit. 

He says using my personal lines will increase my DTI and affect my ability to get qualified for a mortgage, whereas by using business lines it won't affect my personal ability to get qualified for loans. What say you all?

hey! Thanks for the reply. Was the signature line of credit a BUSINESS line of credit or personal? And does the signature line of credit from key bank show up on your personal credit report? 

What do you think about using the business card or line for down payments on buy and hold homes? 

Thanks 

Mark

Has anyone ever used 0% interest business credit cards or lines to make down payments on properties and later refinanced the house/property to pay off the cards or just let the tenants pay them off? 

If anyone has done something like this or a variation of it, could you break it down here? 

Thanks in advance, 

Mark

 I do not want to get a percentage of the selling price on properties. I want to have an equity position/ownership position wherein I collect rental cash-flow monthly... 

good question, virtually none I purchased it at its appraised value like 4 months ago. 

Hello everyone, 

My name is Mark and I am a new real estate investor. I am currently the owner of a single family home which I am "house hacking," in, i.e. Renting out rooms. 

I have three jobs(one full time and two part time), a 735 credit score and a low DTI ratio. My issue and concern is how to finance deals. I live in a city outside of LA that has a lot of distressed properties and properties that would likely cash flow but I want to figure out how to finance the largest amount of cash flowing properties/units in the shortest amount of time.

I have heard of seller financing and recently read the definitive guide as written by Brandon Turner, and I have heard of private lenders and hard money lenders but I don't know how to use them to get cash flowing properties. Any suggestions? It would take forever to acquire enough properties to provide me with enough passive income so that I can have my passive income > my living expenses if I saved 20% down payment money every time I wanted to buy a property. There has to be a more effective and efficient way. Any suggestions? 

Right now my strategy finding a property for seller financing is to target an area, get a list of realtors on my team and have them identify properties that are older where sellers may own them free and clear and suggest seller financing to the sellers. Is that good? Should I analyze the cash flow of the property before I suggest seller financing? 

Thanks in advance, 

Awaiting your earliest reply,

Mark 

I am going to listen to them! Thanks. 

 Thanks Joe!!