A New Real Estate Investor Discovers How To Buy Real Estate Using Business Credit
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- Опубликовано: 22 окт 2023
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excellent as always
💣 information
💎 this is facts can't be scared
Great video!
In this scenario, are you purchasing this house as a private owner and using the down payment from a business checking account that you own (maybe an LLC)? The banks are ok with getting the down payment from a business checking account and not a personal checking account?
What about the monthly credit card bill? How are you paying the monthly credit card bill on a fix and flip deal?
With a 0% interest biz credit card, the monthly bill will only be 1% of what you leverage. Next, you factor in the debt with your monthly expense
When you say can’t tax debt are you referring to 1031 exchange?
No, just in general
How about if you have late payments business credits would the bank still approve credit line or 0 interest CC?
You want to dispute all late payments
What about the credit card payments? How are you paying the monthly credit card bill in a fix and flip scenario?
The business credit is not an issue for me. Mine is also 0% interest. For me the issue is finding banks that will fund Real Estate deals. As soon as they hear the word Real Estate they go running scared. Do you have any recommendations? I have not looked at hard money lenders, because, I keep hearing they charge too much in fees.
There are plenty of small community banks that will fund real estate, stop going to national banks
Did you say 0% interest? With a new investior there is always a bump in the road. Which means you have to pay to lender and the credit card
In addition hard money charges 13-14% interst only. That comes payable in 6 to 12 months and then come payments due on the credit card. A recipe for disaster. This isn't good. I've watched a lot of people end up in bankruptcy.
Save your money or don't do it. This is a business. Treat it as such. 9:51
Yes, 0% interest for 6-21 months. That's plenty of time to perform any exit strategy. You recommend saving and hitting a bump in the road and losing all your savings 🤦🏾♂️
Exit strategy -Sell, cash-out refi, etc
Unless you have $10,000-15000 to rehab the property how would it be worth $200,000 in less then a year?
It's called forced appreciation.
How can I get in contact with you ?
Schedule a call. Link in the description
Not around here you wont pull this 😂
great vieo, but i lost you once you started talkin about ARV (whatever that means)...also, your one-on-one consultation says its $300/hour, while on the schedule there are 30 minute increments... hows dat?
Thank you. ARV means- after-repair value. One-on-one is for 1 hour