All Forum Posts by: Marion Nicholson

Hi chris , I'm a investor in Richmond also and I would suggest not revealing you are the owner. Put in a LLC and act as the manager of the property to against neighbors knowing you own it

I'm in the process of getting my score up to get a business line of credit against my properties. I would say the line of credit is quicker to close deals... the little more you pay in interest is deductible anyway . Plus you only pay on what you use. What Ltv will your bank do ?

Just say I will give you a year lease but once you're late once it converts to a month to month lease.

The lease don't matter, it's the screening of the tenant. I do feel the M2M gives more power to the landlord because the tenant who wants to leave can leave anytime they want anyway. But once a tenant is late I can kick you out anyway. The tenant is the focus not the lease

I can get you a proof of fund letter

I agree with everything Marty True said... paying off debt is a middle class poor man mindset and utilizing debt to get more assets is the wealthy people game. Plus when you have paid off mortgages that's when lawyers will take on frivolous lawsuits when they see you have a lot of equity.

I would say a regional bank money market to start a relationship with them

Get deposit cards and give them to your tenants... Wells Fargo and BofA offer them .

I would educate myself and network on my local area to understand the market. I wouldn't pay off the car with that small balance. Just find a real estate deal that can pay for your car payment . Then continue that success formula withe every liability you purchase.

I have my tenants use deposit cards. Wells and BofA offer it and it's free.You give one to each tenant with their own pin that you can create. They can make the deposit at any Well or BofA branch or ATM. They can deposit using atm on weekends and nights . ATM is always open and it's immediately available in my business account.