All Forum Posts by: Mathew Zorn

@Nick Rutkowski

I have an LLC and will have to seek legal counsel prior to asking my friend just in case the attorney advices against it.

@Lony Dorce

You are absolutely right, we will always have debts and sitting around will make you miss the good deals! I will seek an attorney and go from there. Still seeking other options for funding fir the sake of research.

@Damaine Senior

Thats a good plan if I can find the right deal!

@Aaron K.

Lol Aaron I hear you and you’re not shouting into a void, I hear you! Learning more about other options so when that debt is paid off I am good to role into my next adventure!

@Damaine Senior

What do you know about whole selling? Is this easier than flipping by using a hard money lender?

@Aaron K.

15.792%

Aaron, I have not found a house to flip yet and I have just starting talking to a hard money lender. Let me find out and I will let you know what the terms are. I do want to get that debt paid off prior to the three years but if it doesn't happen by flipping then that is what will happen. Just trying to find another path to take.

@Aaron K.

I am trying to do this carefully and planned out. As of right now it will take me three years to pay off my current debt. I was able to get all of it consolidated and way under my monthly budget so I can pay off more and not run into an issue. I know by using a hard money lender it will possibly take 2-3 flips to pay off my consolidated loan depending on the profit margin. Just ready to be debt free and get my portfolio growing.

Aaron, My debt to income ratio is not in a position to allow me to get another mortgage without 20% down. I am looking at a hard lender right now to help me flip a few houses to pay off the revolving debt and then get that 20% down so I can start building my portfolio. I'm new to this investing stuff and trying to learn as much as i can from whoever will teach me. My time is limited right now because of my work schedule.

@Ty Frankel

I get what you are saying but theres a lot thats not known. I want to tap into his cash flow without him having a say with how I spend it just as long as he gets his ROI too.