All Forum Posts by: Matthew Banks

@Derek Harris Thank you for the response but right now small multi family and SFH. I'm back and forth on just niching down. I want to really focus in and master small multi family-(2-4) units but i think I'm going to follow "the stack" strategy and start with a SFH because they're so plentiful, and i think it'll be a good confidence builder getting the first property under my belt and then scale up to duplex, tri, and quad. Etc. but i will check On the material you recommended

Hello BP family. I’m wondering what are some checklist that you’ve used that’s worked for you in terms of what all you look for when doing your due diligence On a property before deciding to move forward or back out? What has worked? And what do you wish you would’ve looked into? Thank you 

@Chris Teti thank you. I’ve considered that. It’s more of an emergency for something very unexpected; extra reserves for when i purchase my first rental and in a tight situation. Also if deals come that would allow me to pay the balance off shortly after using it.

@Brandon Cooper thank you! I'm going to call around and check with some local credit unions and see what criteria they look for before applying for a LOC.

@Mary K. Okay, I will look into what options are available for me locally but I really appreciate the feedback. Thank you

@Mary K. I also have very good credit and income, as I do still currently work my W2 job.

@Mary K. Thank you for the reply and advice. We do have a home but it's more of a liability because we don't owe it free and clear. I currently don't have a IRA and I opted out of paying into my 401k at my current job and I cashed out the balances from my two previous jobs some years back.

Hello BP family. One of my goals this year is to apply and get approved for a PLOC, ranging from 20-35k. I wanted to ask does anyone have experience with this process and what should I expect? I’ve heard many banks are against It and press for what you intend to do with the money. I’m preparing a packet/folder to show that I’m a worthy applicant

Hello BP family. One of my goals this year is to apply and get approved for a PLOC, ranging from 20-35k. I wanted to ask does anyone have experience with this process and what should I expect? I’ve heard many banks are against It and press for what you intend to do with the  money. I’m preparing a packet/folder to show that I’m a worthy applicant 

@Scott Morongell I’ll be sure to do that, I’m Strictly focusing on MF, and wanting to make it my niche. it’s the only thing I will follow and educate myself on until I master it.