All Forum Posts by: Matthew G.

Hello all,

My partner and I have purchased an investment property in Idaho. The mortgage and title will be drafted under his name, however we would both like to have equal share in the property. It seems one option is for us to form an LLC and place the property into that, however we are unsure of the exact process of doing this after the property had been purchased under my investment partner's name. If anyone has experience in this situation or knows of better options, it would be great to get some insight on those, and any associated limitations.

Thanks!

Hello all,

I am a new real estate investor living in Seattle and considering whether to invest locally or out of state. I have been researching areas of potential appreciation that are good for cash flow and have come across Boise, Idaho and the surrounding areas. The area looks very nice and seems to have potential. I would like to see if there are any other investors with properties in this region that live out of state.

Are there good property management companies that service this region? I am also interested in finding out if there are any unique issues to consider and look out for when investing in Idaho (taxes, etc).

I have found a property in Caldwell that catches my interest, but I would be interested in knowing how that particular area compares to other Boise suburbs.

Thanks!

Thanks for the info. So, how would the guru go about applying for a mortgage with the use of the CC money as down payment? I'm assuming he would have to wait 60 days for the funds to season in his checking acct first?

Hello all,

I am new to the BP community. My partner and I are looking to invest in a multi-family property in the Seattle area. We are currently searching and analyzing properties on the market.

My question is regarding "free" credit offers. I have received two offers some time ago from my current credit card provider for a 0% APR direct-deposit (for 1 year). There is only a small fee to accept the offer and make the deposit into a checking account. After some research, I'm thinking it would be a good opportunity to proceed with the offer and to set aside the "free" money for use for repairs/renovations and holding costs to have some extra cushion.

There seems to be much debate on the use of credit cards in real estate investing, but considering my circumstances ..

1. The money is borrowed at 0% APR for 1 year

 2.  My total credit utilization would remain < 30% after taking the cash

 3.  My current credit score is ~770

 4.  If I "really" needed to, the money could be paid back within a few months.

 5.  I will be seeking financing with my partner, who also has excellent credit.

My main concern is the amount my credit score would drop when taking the offer, and if this would adversely affect our ability to apply for financing. My current belief is that the affect would not be adverse, given that my total utilization would remain < 30%.

I would appreciate hearing anyone's experiences taking this type of offer and how it worked out.

Thanks!