All Forum Posts by: Bryan Balducki

@Mitchell R. I have also spent time with these decisions. I went with Sams Club which is probably similar in price to Costco. They had a good deal on pillows as well.

@Dennis Yosco my team uses BoomTown and I like it. There is a concierge service that will gather information for you. You can run campaigns and e-alerts with ease. Message alerts go straight to your phone as a text and it also logs all calls and messages through the site.

@Richard Weaver I would start by speaking with your investor friendly lender. You can see what financing options you have available currently and create a plan/go over options. Good luck and congrats on getting started on your next investment!

@Jason James personally, I choose cash flow over appreciation because I wouldn’t know whether the rehab would be successful. I hear many stories of rehabs being underestimated or another issue arises that could not be seen. I wouldn’t trust ARVs since they are not set in stone, and can change with market fluctuations. Cash flow is king because it can protect you in a down market as well, though it really does depend on your financial situation and long term goals.

@Michael Cote I am no lender and I am not giving lending advice, and you should talk to your lender, but I believe this depends on how long you want to hold the property. If you plan to hold the property for 30 years, a fixed rate might be the best option. If you are planning on selling the property in 10 years or less, an ARM might be cheaper since your rate would be lower for the first 10 years or less depending on the loan option you choose. I use fixed rate mortgages because I am a buy and hold investor. Hope this helps!

@Douglas Curtiss I would always have some form of reserves, especially for your first property. I usually stick to 10k per property. Having credit cards to fund unexpected costs can help in a pinch.

@Mike Toole I’ve rented out properties furnished or partially furnished before. You could list with a furnished option and charge more premium per month, and then move everything out if your tenant does not want it furnished. Just an idea for you!

@Owen Budden I believe networking would definitely help you towards your goals. It’s important to surround yourself with like-minded people. Try going to meetups in your area. You could also try getting a second job or a side hustle to speed up your savings rate and debt pay down. It might be time consuming to work a second job but could be the key to getting your finances to the next level. Finally, house hacking can be life changing by eliminating or reducing your living expense. If you need help for the financing, you may need to get creative, but definitely speak with an investor friendly loan officer to see where you are. Good luck and keep to the grind!

@Michael Mejia I canceled this particular card because I know longer has use for it. I have other cards that I use more frequently and didn’t want to have too many cards, as it is something to keep track of. It worked great for financing what I needed.

@Ingrid Rivera I’ve never used a business line of credit, but I have financed smaller rehabs on “no interest for 12 month” credit cards. I know Home Depot offers one and I’ve used a Best Buy credit card for this also. After I paid everything off, I just canceled the card. Would definitely recommend it!