Sharon R.
Virtual Closing comfortable and safe?
When you do million dollars deals and closing is done virtually (which one side picked as part of their terms and that firm normally does their closing online) how comfortable are you? I may be paranoid but it really ...
Deforrest Ferguson
Personal Line of Credit
Is it a bad idea to use a personal line of credit to fund a down payment on a rental property ? I have very little cash on hand and I’m eager to get started on my first deal. I know not to rush into this thing or I mi...
Chand P.
How to lend huge amount to a friend?
Hi,This is my first post here and please be easy on me.One of my friend need money for his business activity and none of the professional bankers won't lend him money due to his tax filing situation, loan to debt rati...
Ryan Keenan
Personal line of credit and creative finance
Hello BP, is there any problems with taking a personal line of credit out and seasoning it in your bank account for a few months then using it for a down payment and rehab?
Example : I take 50k out on a personal line...
Michael Doherty
Refi into LLC or Personal Name w/Umbrella Policy?
Hi all, stay with me on this one.....I am half way done with renovations on my first duplex BRRRR. I purchased it with hard money in an LLC. I currently own two other duplex's, one in my personal name which I house ha...
Account Closed
Should I open an LLC to start?
Hello,
My name is Lee and I am new to real estate investments. I purchased a program on real estate, rehab and flipping recently and one of the "perks" of the program was consultation/foot work for opening an...
Edward Ray
Do you pay yorself a base monthly salary?
Hi BP'ers,I'm working on my first property.It is a city property that I own free and clear.I purchased it for 8K ,will put 40k in rehab(60% gutted). ARV might be about 55-60k Its a 3/3 duplex.Projected rents $625-...
Z Smith
Using personal funds for entire house purchase - it is smart?
Hi there. I want to purchase my first SFH to rent. Purchase price will be around $100k. I'll receive at least $1k month in rent. I am 30 y/o. I work from home full time.I am having a lot of issues trying to work with ...
Kendall Mitchell
My business partner point of view
I have a know who is successful in the rental property side of real estate and I asked him if I can invest with him and he said yes. The only thing I have is trust in him and no knowledge of the business. So, he told ...
Shequann Burrwell
private money lending scams
I am on the search for a new lender to fund my rehabbing efforts in my area. I found a post on LinkedIn simply stating this person was working with new investors who are allowing him to lend there money out to fund de...