All Forum Posts by: Ryan Mapes

@Jordan B. the Chase Premier Business Ink card looks interesting.  For me personally, I like the zero interest component.  Being able to carry a balance (even though you have enough cash on hand) is helpful purely from a cash flow perspective.  Cash back is a "nice to have" in my book since 1-2% here or there isn't going to dramatically change how I operate my business.  

In general though, I'm really surprised at the lack of innovation across cards here.  Doesn't look like there is one that is really purpose built for real estate investors...at least, I haven't found one yet.

I agree with @Doug Smith on this one.  It's helpful to have a better understanding of your overall financial picture.  A few potential solutions:

1) You may be able to take on additional debt (if you can find reasonable terms)

2) Private funding - raise funds from private investors.  Can be costly and typically requires you to give up some equity (unless they'll provide you with a private loan).

3) Revenue based financing - this is a viable option if your current property is cash flowing OR you own other long term rental properties that are cash flowing.  In this case, you trade a portion of your future rental income in exchange for up front cash.  It doesn't add debt and you don't give up any equity.

I'm happy to chat if you're interested in the revenue based financing option.  Feel free to shoot me a DM.

@Ben Bolingbroke Happy to join as a guest and provide a lender's perspective. I've joined other podcasts in the past.  I'm primarily focused on multifamily. So, not sure if that fits your audience.  Shoot me a note here and we'll coordinate.

@Lorenzo L. Happy to join as a guest and provide a lender's perspective.  I've joined other podcasts in the past...specifically focused on multifamily.  Shoot me a note here and we'll coordinate.

 Did you end up finding one that you like?

Okay, great.  Sounds like the points on your AMEX make it worth using.

For those with at least a few doors in their portfolio...You could also try revenue based financing. Trade a portion of your future rental income in exchange for cash up front. You can use the cash as a down payment on a new property or for renovations on an existing property. Requires that you own other rental properties (funding is based on cash flow of these properties).

Doesn't require a personal guarantee, doesn't add debt, and doesn't take any of your equity.

Happy to chat if you're interested in going this route.

 @Chris Seveney  Is there a specific card you prefer?  If so, what are the benefits?

@Doug Smith I agree on using leverage from other sources for larger capital needs. I'm interested in which cards/LOCs others use to actually cover the cost of materials and other purchases during renovations, etc. I wouldn't want to carry a balance from month to month unless the terms of the card/LOC were favorable (e.g. 0%, etc).

What's your favorite credit card/charge card for funding renovations or other purchases on your multifamily properties?  Looking more for business cards or lines of credit since spending will be $50K+ per month.  

This question is geared more for folks with 5 units to 200 units.  I'm not looking for recommendations for personal credit cards with a relatively small credit limit.