All Forum Posts by: Victor Paez

@Russell Brazil oh alright Sir, thank you

Hey all? How’s everybody doing?

I was wondering if by chance anybody has ever used those home warranty programs for their rentals?

I ask because presently in my personal home, we have Sears Home Warranty and quite frankly it’s been great for us. For $69 monthly plus $99 deductible per repair call, and they’ll pay you $500 to pay towards any piece of appliance they can’t fix.

For the $69 monthly, they cover every appliance in the house including all fixtures, HVAC system with 2 complimentary checks during spring/autumn seasons, garage doors/motors, and electrical systems, etc.

Now I know there are people with horror stories but for us personally, they’ve replaced our oven, fixed our fridge and deep freezers, electrical system, and have already taken advantage of their HVAC checkup.

Would this be something of an added protection for our properties moving forward and maybe roll it onto the rent? Or just not bother with it?

Thanks y’all

@August Olgren that's amazing, due to a pretty bad divorce case that destroyed my credit a few years back, I have practically clawed my way back in better standing in terms of credit, I have a substantial down but sadly since I have been self employed for some time and rearranged my game plan with my multiple businesses, I'm going to have go through an HML.

I appreciate your advice as well as everyone else's, I will definitely be reaching out to HML's

@Tania Ninerell thank you, I’ll definitely start reaching out to people

@Jonathan Greer awesome, I’ll have to consider that as well, thanks

@Caleb Jordan thank you for your support and thank you so much for your advices, I promise I won’t be a pain. I’ve got majority of everything set up, it’s just key points that I’d like clarification on before I make my leap

@Kerry Baird thank you so much for the information and everything is definitely noted. I was merely repeating the stories I’ve read and watched on YouTube from here plus the podcasts. My situation is not as dire which I can afford a down payment and have not an obliterated credit.

I’m intrigued with the using debt to increase wealth and I’ve got all my ducks in a row but just needed some questions answered.

Unfortunately I'm no longer eligible for VA benefits due to an issue involving my ex wife(typical Jody story), although I just need to quit being lazy to just square away the issue since a certain has already passed.

@Caleb Jordan thank you so much for the info.

I’ve got a pretty big vision presently, and no my credit isn’t so bad that I wouldn’t qualify for anything.

I’m a disabled vet just a little down on my luck right now and looking to increase of better my family’s way of life. I presently working in the hazmat division of trucking making a good amount of money, ive got a couple of small businesses that I would like to work with eachother to grow my brand.

I was an infantryman for 11yrs so I’m not afraid of getting dirty and work extremely well under immense pressure.

Would you be so kind in possibly allowing me to ask questions from time to time just to give me more confidence in making that leap of faith? Maybe spit ball with you a business plan?

@Caleb Jordan thanks for the response.

I guess that’s where I’m confused, all these stories of recovery from extremely bad credit and negative income, acquire a hard money loan then they can somehow obtain multiple properties within the next few months then refinance WITH the stated scenario(bad credit + negative income)...

Hey gang

Newbie question. I’ve read all these stories of everybody who started where they’ve had to go through obstacles personally, bad credit, 0 money, etc.

I know you can get creative but first have to go through your first line of support which is family or friends, then hard money lenders.

My question is, if a hard money lender agrees to fund your day with an agreed upon conditions, so do these lenders typically ask for a monthly payment or do they just require the loan amount plus their fees at the said end date which from what I gather is 12mos? I ask because, I’m having a hard time understanding how to structure payment vs asking rental amount vs market

Second question, scenarios with newbies with troubled credit who happened to acquire a property through a hard money lender, how does their credit impact their refinance chances when the property stabilizes after a year of ownership? Refinancing so you can pay off hard money loan

Thank you all for your time and stay Blessed