All Forum Posts by: Steven Scheer

@Rob Dayley as mentioned earlier, this is just brainstorming. If there is a way I can purchase a home free and clear using credit cards then immediately pay off the balance, I see it as a win. I'm reaching out to the BP community to gather input from fellow investors.

Did I post in the wrong area??? Is this not the creative financing forum?

@Christopher Phillips thanks for the info. From a newbie perspective, a HML would be a stretch as most HMLs require more money down. Or maybe I am not finding the right lenders. As mentioned before, I'm trying to get creative here so I can get more properties in a shorter period of time. Getting out of the rat race ASAP and all that good stuff. Thank you for your input and your polite disposition. It's refreshing to receive actual advice, as opposed to being told to "get real" when you're simply asking for advice on a potential approach.

@Christopher Phillips for clarification sake, I am assuming you mention a loan, you are referring to traditional financing. Please advise if you are not.

I understand your point of view, Marcus, but I'm trying to think outside the box and find ways to acquire more real estate using other people's money.

Hi everybody! I have been wondering if any of you have ever used a credit card to purchase a SFR free and clear. If so, how would you generally go about quickly paying off the balance of the credit card? HELOC, a Home Equity Loan or refinancing?

Thanks!

Thanks, @Account Closed I went to school at the UWW and I  remember that every home I lived had that same lease structure. Does DLK Enterprises still control most of the real estate in Whitewater?

Thanks, @Brian Head! I'm actually looking the Waukesha area for now. I'll invest in Milwaukee when I have some more experience.

Thanks, @Kaleb Carsten! I was thinking the same thing. I just read in a book that some folks do the charge by bed approach.

@Daniel Hyman, thanks for the advice! Madison has to be a very lucrative market. UW has to be a gold mine.

Howdy, good people. In the next few months, I will be purchasing a duplex to rent to college students. I was wondering if the people of BP that rent to college students either charge a predetermined rent (say, $1,000 per month) or do you charge per bed (say $300 per bed, per month for three beds OR $250 per bed, per month for four beds)?

Be blessed!

-Steve