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27 August 2020 | 2 replies
@Rueben Pacheco As long as you're still in the initial draw period of the HELOC, you can run up a balance, pay it off, and run it up again as often as you want. 10 years is a common initial draw period for HELOCs.
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29 August 2020 | 6 replies
I've also used a combination of HELOC and cash on subsequent BRRRRs.A HELOC is a great option imo and is likely going to be your second least expensive option because of its low rates and interest only payments.
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27 August 2020 | 2 replies
You need to draw up NDNC agreement that spells out your fee if they do the deal but does not bind them to you for representation.
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31 August 2020 | 11 replies
You say you have a website yet it is generic.So you are admitting your website is not taken seriously, yet you are drawing conclusions that internet gets you not much when you have ZERO grounds for making that conclusion.
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31 August 2020 | 3 replies
Spell out ownership percentages, re-investment of profits, owner draws, specific and shared duties, etc.
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31 August 2020 | 6 replies
A partner and I operate in SE Wisconsin (Racine, Milwaukee, Kenosha area) and have been working with an out of state investor, originally from the area, who was interested in helping us out in acquiring a BRRRR deal weather through private money, a cash purchase on their end and subsequent land contract to us, or a partnership deal.
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31 August 2020 | 5 replies
@Arijit DePlease keep in mind the multiple loan rules as you may not be able to take a subsequent loan right away:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
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29 August 2020 | 4 replies
Do you want to pay an attorney to draw up the contract?
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25 January 2021 | 24 replies
This is extremely difficult to do when traditional financing only allows 4 draws (or reimbursements) for the whole construction project, or take 15-30 days to reimburse you it becomes a serious headache and burden on the project.
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11 September 2020 | 20 replies
Even though we draw $5-7,000 in cash off of it for living expenses a month.