All Forum Posts by: Adam Craig

This is a small kitchen so I was thinking painting them white with brushed nickle hardware and a backsplash. Would you paint these?

 I did not go turn key. I decided to buy houses and hire our the rehab. If you have the time and people in place this is the way to go. You are getting into the property with much more equity than you would buying turn key - the premium they charge is not worth it in my opinion. 

Thanks all! White it is.

I am in the Cleveland suburb market. The houses we rehab are going to be rentals for about $1200/month and have a ARV value of $120,000 which is entry level housing in this market.

I know HGTV ect is going white on kitchens and baths, which I do like but is it a good idea when rehabbing for a long hold rental? 

I tend to upgrade my rentals better then other investors might recommend, but I think it pays off long term and in resale.

What do you all use in your kitchen and baths for rentals, pictures would be great!

I see lenders who offer lines of credit saying things like...

Midwest Corporate Credit works with over a hundred national, regional, and local lenders and credit unions. Our experts are consistently tracking each and every lender's trends and requirements, and use this data to optimize your financing mix so that you receive the most capital, with the lowest interest rate, as quickly as possible.

http://midwestcorporatecredit.com/index.html

This company has some great reviews and is good with the BBB. Is there any drawbacks to using a company like this to get some working capital?

What would my strategy be when talking to these banks? More specifically, what should I tell them the line of credit is for, personal or business? 

When I went to Chase she said they wont offer lines of credit to real estate investors - so we just set it up under my other business. I still got the line of credit, but I technically cannot use it on real estate, so I just make deposits into my personal account when cash is tight and it serves the same purpose.

I am trying to find more lines of credit - I buy most of my rentals properties for cash, rehab them, then refinance so when I have multiple jobs going at once money can get tight, especially around tax payment time :)

I have a 50K line for my internet business with CHASE.

I also have a 40K HELOC on my personal residence.

For someone with excellent credit, 200K+ NET, and 14 renal properties with about 500K equity.... Where would be the best place to get additional lines of credit.

I tried applying for a 75K Wells Fargo personal unsecured line of credit but got denied - I thought I would be a good candidate. Waiting for my letter to find out why. 

Any ideas before I start racking up applications on my credit report are appreciated.

I am hands off - I have never met a single one of my tenants if thats what you mean.

Do I have enough coverage for my 12 rental properties

• All properties are under a LLC
• My home insurance covers up to 1MIL per occurrence
• They are managed by a professional management company

Not exactly sure if I am still exposed ? Should I get an umbrella policy to top it off?