All Forum Posts by: Taylor West

@Matthew G.hope this helps.

Nicholas, I'm sure each instructor remembers differently, or dependent on their guru company.  Ya, my left side brain (the E and S (Rich Dad term)) is saying that is crazy: 18 CC's and $100k.  But if you're disciplined in money management, which is what they don't really put an emphasis on, then it might just work.  Just hope you can pay off the first CC by the end of the 12 months.

@Nicholas Crum

The guru instructor stated it was 10 days for banks, 30 days for the auto industry, and 2 other industries I forgot that are 30 days.  But either way, three days or 10, you are correct. If your going the CC wrote, which Crum you just made it sound very complicated (moving parts to pay a bill), might as well get the three CC's and the max limit you can. 

@Trevor Sambrano

I am glad you posted this because I am about to start an LLC that includes a syndication/multiple investors and this answered one of my many questions.

@Colin Smith

 Thanks for the reply.  

@Mathew Deines 

@Mathew Deinesundefined

The real estate guru's will tell you that you should call the credit card companies (3 separate companies) who offer the 0% APR and request to get the maximum amounts on all three. Then you can use one CC for anything you need and use the second CC to make the monthly payments along with the interest. The guru's also promote talking to the representative and having them remove all yearly fees. Once the rep helps you with this, then you ask for their supervisor (since they make more money on having calls transferred) and promote how well that rep helped you; then, you ask the supervisor for the same thing.

This was told to me in a seminar (a guru one at that); however, this is dependent on your personal ability to not spend the CC's.  I might be the right thing, but I do not know.  Also, I am not positive it is 'legal' to use one CC to pay off another.  That is what the guru company said to do because the banks cannot tell you that you can use CC to pay off another.

**This is not legal advice, but is what was promoted to fund a guru company class**

Gwen (@Mathew Deines),

From my little understanding is it is state dependent.  California is very tenant (and squatter friendly), along with I believe Florida (article about a deployed service member coming back to his house and squatters having moved in a law enforcement can't kick them out).  Have you attempted to contact the 'friend' that let him in?

Investing in Real Estate: 7th Edition by Gary Eldred

I am enjoying this reading because of the variety of ways he states one can invest and/or profit: practical application rather than endless motivation to leave the 'rat race.'

Buy It! Rent It! Profit! by Bryan Chavis

No flip experience, but I would recommend an inspector before closing.  Then during the rehab, if you know a contractor/inspector personally, have them come out and do a walk through with you when you can see the guts of the house (this person can also inspect the quality of work the actual construction personnel are doing and if they are cutting corners). Once the walk through is done, buy him a beer or dinner.  Beats relying on sub-contractors, etc.  

@Sam Ericksonand @Kelly N. I was informed by another investor (I will not say how or where because it was a REI "guru") that he provides all tenants with cable and wifi. That is, both are set and cannot adjusted: buying movies, etc. All of which is factored into the rent. Kelly does appliances, which I understand and think is a good idea.

A random thought, how about coin-operated washer & dryer in the house rather than the norm?  Attempts to keep waste of water down and is additional income.

@Sam Erickson I don't understand the second paragraph...as for the yard, I mean do they up keep it or do you hire a company o come out X amount of times each month and factor the fee into the rent?

And if they up keep the yard, do you provide to mower and weed wacker?

And what about the yard?  Since it is a house.