All Forum Posts by: Tamatha Mallard

Quote from @Ashley Cross:

A line of credit is a great tool. With hard money you can use an unsecured line of credit for the down payment unlike conventional loans. Of course, make sure you are running your numbers so you aren't over leveraged. It's a tough market and rehabs are getting more expense. Also, make sure you are sure of the comps for the refinance and you know you'll be able to qualify for the refinance. 

Thank you 

Thank you. 

Can someone explain to me the best use of an line of credit. I want to use it to acquire a rental. Fix the rental then refinance and pay off the line of credit. Does that make sense?. Will that work?

Hello Anyone know of a great credit specialist. I live In Tampa, Florida..Thanks 

@Ben Ortiz a good HML will charge 2-4 points.. normally paid upfront. LTV of 70-80% of the purchase price. If they offer repairs as well 80-100% of purchase price. Get the book the flipping blue print by Luke Weber. Very good book for beginners. Also I see you live in Tampa. I also live there. You should check out the local REIA meetings.

@Beau Fannon. I am at the max of my personal credit. I can’t get a high enough limit personally to do what I want to do. Personal credit is excellent but the banks keep telling me that I have too many accounts, although I don’t have balances on most of them. Question is actually for a friend that has his own truck company .. i will tell him to try a credit union. Thanks for responding

Hello how can I establish business line of credit?

Oh and the CF is like $5200 after operating expenses

Thanks so much for the response. Yes I tried to tell her that. The high HOA. Skews all Your numbers. I’m doing a closer analysis and the cap rate is pretty good. But based on the NOI AND CASH FLOW. the purchase price should be closer to $125,000 to make it a good investment. Again thank you so much.