All Forum Posts by: Murray Reginald

@Wale Lawal  thanks for the advice I am also considering flips which would work better for the credit cards!!!

Hi BP,

Does anyone have a great wholesaler in the Houston area that you could recommend? someone that you've worked with and will continue to work with because they are giving you GREAT DEALS with no padding (i.e. A lot of meat on the bone)? I realize I will need to do my own due dillegence, I don't want to play games, I'm positoned to purchase properties!!!

Hello BP,

I have a strategy to purchase properties/Storage Facility but I need your help, I've been leveraging my personal credit to get funding to invest into real estate, I've obtained 175K in funding on my business credit side by doing this, so I have plenty of down payments for real estate, my plan is to purchase off market deals from a whoelsaler, by doing a bridge/DCSR or even conventional loan, I plan to rehab the property, put a tenant in the property and do a cash out refinance (BRRRR) strategy, but I'm stuck because how will I pay the business credit cards off after liquidating them? The tenant will service the debt, I would like to have a PM, along with CapEx and any other expense, I planned to get at least a $200 cash flow or hopefully more but I still have the credits card debt to pay, how will I get the money to pay the debt? When I do a cash out refinance?

Thanks that makes sense!!!

Thanks Greg I will reach out to a lender, I am currently working with a business planner to get a business plan and present this to the lender. You stated 3-5% in a lot of places is this just for vacancy's only? 

I'm just doing my due diligence, I am also linking up with my local SSA to obtain education on operations/property management, I'm currently looking into a SBA loan as well, I live in Houston Texas and would like something that is close proximity. Do you own a Self Storage?