All Forum Posts by: Brian Van Pelt

@River Luce

You cannot force a property to cash flow, I'd suggest searching deeper to look for properties that work for your investment goals.

@Andrew Grace

no,no,no You need to really spend some times getting the basics of investing down. Your investors can;

. co-sign a loan with you 
. purchase the property in their name and you/they form an LLC to manage the property.
. Spend the next year getting to know the market in Miami. 

@Alexis Terry

. white pages.com
. tax records
. public settlement filings
. linked in
. online pay services
. google name search (name+state) about 60% of the time you get employers name, then you call office main number and ask for the person you want)

@Stanford R.

HELOC's typically have a variable interest rate, unless you find a hard to find fixed interest rate HELOC. Also HELOC's have in the fine print, the ability of the lender to at their discretion:
. Lender can close the HELOC under certain conditions.
. Lender can freeze the use under certain conditions.
. Lender can call the HELOC under certain conditions.

I know there are some lenders who will deny this, but during the last financial crisis, I had 3 clients with HELOC's on their primary residence had their HELOC frozen . 

READ THE FINE PRINT before closing.

@Gary L Wallman

I hear you and agree, When this thing started , My wife and I thought it would have been better to shut down everything,  the stock market, payments of mortgages, credit cards, auto payment's, everything but the basic necessities for 4 to 9 months. Give the whole world a chance to slow the spread and and possibly get a vaccine started. Sure we would have taken  a hit to the global economy, but just like the Great Depression, Bank holidays served a purpose. Once this slows down, and it will, The Butchers Bill will come due with all of this "Whatever it takes" nations are playing Musical Chairs with the world economy and REITS will be just one of the many future shocks waiting to happen.

@Sam Stabler

It depends on on the wording of your contract, reread it carefully some states have binding arbitration other non-binding., I would encourage you to contact a Real Estate Atty.

@Brett Doerr

Navy Federal Credit Union should be able to help

@V Jones

Use the search button on BP extensivly.

@Alonso Fernandez Maldonado

There are a ton of websites similar to:

https://www.homeadvisor.com/cost/additions-and-remodels/

that will help you, use google.

@Gary L Wallman

As a business owner and investor I understand your problem, I would have expected as a cash buyer that at least 75% of your properties have home equity lines you can draw on, If you don't my first question is why not ?

If you have had had your business for any length of time, good business owners or a C corp will put aside 3-5% per year for cash reserves, or if your income funnels through to you, then you should have been setting aside 10% of your income annualy for emergencies.

The issue is that too many people plan for vacations,quick business expansions, etc and in reality they are no better than people who live pay check to pay check.