All Forum Posts by: Michael N.

I recently created an LLC for rental property, out of state. My understanding is the rental property cannot serve as the registered office for the LLC. I obtained a registered agent. My home address is my business address.

Hello. I am new, and looking for some information on Seed Capital. Has anyone used this service?

This service offers to find me multiple lines of unsecured credit, at 0% APR for 12 months, through personal and business credit cards. They charge $6500 for the service which includes some consulting/coaching. This seems pretty steep.

In theory I would use the lines of credit to purchase rental property, then refinance for cash, and use the cash to pay off the credit card balance within the 12 months.

I was referred to Seed Capital, through the Cash Flow Savvy podcast. I think they are affiliated with Epic Fast Funding.

Thank you for your help.

Thank you, Jessica.

I am concerned about how much information I have to provide to a lender, to finance some investment properties.

I am new to real estate investing, and looking at turn-key companies. CashFlow Savvy recommended a lender (Ridge Lending Group in Portland, OR), and their information request is extensive. They want 401k information, signed credit card authorization, all bank accounts, IRAs, tax returns. Basically a social engineer's treasure trove of information.

Is this a normal request?

Cheers.

Great. Thank you for the information.

What terms should I expect, when using private lending? I am new to the real estate investing, and apologize if this is not clear. I am happy to elaborate as needed.

If I reach out to friends and family, to present an opportunity, what should I be offering, as far as the money? Is it a percentage of future cash flows, or just a simple percentage return on the amount borrowed. e.g. four friends combine to lend me $100k for a passive income investment. The property generates $1200/mo cash flow. Am I divvying up that cash flow, and handing it to my friends, or, do I pay them some amount after whatever the terms of the loan are?

Thank you.