All Forum Posts by: Antonio Bodley

It appears as if he runs one of those programs where they hook you on a low/free cost training and then hit you non-stop with "upgrades", and "higher levels of coaching".  With the whole, "if you really want success you need the next level".  You'll be 50k in debt before you know it.  I'd suggest trying a free training first that gives you the basics that will get you started and see if it's the right business for you.  You can find free training (I'm not in any way affiliated but have gone through it and it's quite thorough) at LandConquest.... if I put the ending might get blocked but Google is your friend.  Spending some on marketing/mailers/trying to find motivated sellers would be a better use of your money (in my opinion).

@Antonio Bodley

One possible issue is if you are signing on the loan, your credit will dramatically decrease once you take out a balance transfer. This would mean you have the money sitting in your account but, you have not been approved for a loan. If you try to pull the money out right before closing, this might be caught by the lender. If you don't have any other funds, what cash will you show to the lender to let them know you can close while still having funds available for making repairs and a reserve?

Lastly, what happens in 6, 12, and 18 months, when your 0% transfer is gone interest rate increases by 25%? Your credit will be much lower from the balance transfers.

I would not suggest it for apartment complexes. If you were an experienced flipper, MAYBE, either way, it is very risky...not saying I have never bought short-term flip properties with my cash and cards but it is VERY high risk.

Hi Antonio! I had this same question many moons ago when first starting out. Using balance transfer checks from a business credit card as a funding source to invest in cash-flowing apartment complexes carries a significant level of risk. This approach involves borrowing money against your credit limit and should be approached with caution due to potential financial implications.

If you were to consider this strategy, having a property lined up for investment beforehand is advisable. This helps ensure that you have a clear investment plan and a specific use for the funds. Alternatively, you could initiate the balance transfer into your bank account before seeking an apartment complex to invest in. However, this approach requires careful financial planning to manage the borrowed funds effectively.

Given your lack of familiarity with balance transfer checks, it's crucial to thoroughly understand the terms and conditions associated with these transactions. Balance transfers involve fees, interest rates, and potential impacts on your credit score. It's recommended to research and consult financial professionals to make informed decisions.

Regarding your four business credit cards, you can typically execute balance transfers from each of these cards into the same bank account. However, keep in mind that the total amount transferred should not exceed your credit limit and should align with your repayment capability.

Before proceeding, conduct thorough research, seek advice from financial experts, and consider alternative funding options to ensure you make sound investment choices and manage potential risks effectively. I have an amazing CPA/Advisor that I would be happy to connect you with if interested. Good luck & happy investing! 

@Antonio Bodley

Mobile notary service can work as well. Send them the doc and they will drive to the person and get it signed for you

If you’re going to buy sight unseen, you need to assume the worst for the condition of the home. The numbers still have to work after extensive rehab. Do not go under contract based off of photos.

As long as you have an inspection contingency of course you can. While I HATE people that make an offer while 100% planning on changing their offer after it’s accepted. All you can ask for is the most recent interior pictures and the seller’s estimate of the current condition. Then if it’s not in that condition you say here’s my new offer or I have to walk. 

If you’re local you could also offer to arrange for a locksmith to come out and mail them the key after you inspect the inside.