All Forum Posts by: Rob Smith

 William how hard is it to cash out refinance about one year after I buy the home if it has 25,000 equity in the home  I understand two years after a short sale I should be able to start using conventional financing again it's been about a year and two months since my short sale 

 Thanks Josh for your input I do make enough money but I just went through a short sale so this is a way I'm trying to purchase one and then I was going to refinance like  William suggested

 I would like to buy a $75,000 home putting 25,000 of my own cash into it and putting the remaining 50,000 on a business line of credit at 7% interest what do you think

 I'm  about buy John Federo real estate investing in mobile homes and I am searching for deals in southern  California but I can't find any has anybody found deals in Southern California for $4000 to $5,000 is it possible to do his investing in Southern California

so here is the deal i am thinking of getting into with his company i put 2k a month into his company after 6 months it is 12k he then goes to his bankers and gets a line of credit for about 100k i can use that line of credit to buy performing assets

the 1k was an example the point here is has anybody ever hard of this type of deal. 

This is the deal that has been explained to me let me know if you know anything about this type of deal 

example 

Client purchases one promissory note each month at $1000 each for 12 months at the end of 12 months client receives 8% annual  interest if you keep the money in for two years they pay you a 30% bonus The money is never spend it's always just in a holding account you can get it back at any time you want it back 

How the program works

In the whole sale commercial banking marketplace, investment bankers offer provide unsecured lines of credit to their best customers who maintain large portfolios of assets. these asset portfolios can include cash, promissory notes, loans and real estate to name a few and can be used to access funds available from such credit lines by special arrangements made with the investment bankers. Proceeds drawn from these credit lines can be used to acquire other income producing properties such as hotels multi family apartments and retail commercial properties which generates the funds used to provide the returns offered to clients participating in the promissory note purchase program

right now I own 4 single-family residence I buy-and-hold long-term don't care too much about appreciation just care about monthly cash flow paying them off in 10 to 15 years and retiring with mailbox money

Thinking about making my next purchase a multifamily home any advice and recommendations would be appreciated thanks

Don't pay for any Coaching just search Bigger pockets ask questions here and this is were you learn