All Forum Posts by: Bryan Johnson

Hello I live in New York And work full time I want to invest in Pittsburgh Pennsylvania which is about 8 hrs away from me utilizing the Brrrr strategy but I won’t be able to be there to watch contractors supervise and make sure things are getting done any advice one how I can move forward

@Brian Jackson Hey I’m in the same boat now and wondering what shall I do did you move forward with anything and if so could you let me know

Greetings everyone I live in NY and want to exercise the Brrrr strategy out of state I’m thinking Pittsburgh or Indiana the thing is I work full time and want to know what is the best way to utilize this formula without me being there because I need someone to stay on top of contractors and make sure things are getting done I would greatly appreciate all your feedback thanks

What was your monthly payment on the 100k loan?

how much was your loan payment if you don’t mind me asking

Thanks @Andrew Postell That was a abundance of overwhelming information but it was exactly what I was looking for. So as far as where my money came from will that need to be accounted for? or questioned?as I explained earlier I will be using my business credit card to pull money out for closing and reserves I ask this because when I closed on my personal residence there needed to be a paper trail from where my Dp came from and closing cost 

@Brent Coombs in response to your response I plan on using business credit cards for my closing cost and reserves and i don’t know if banks would allow me to use that and I ask about dti because even if I have 0 debt (Cc’s etc) and I have a personal mortgage won’t that affect my dti?

I’m late on this thread and have been doing so much research on this strategy my big thing is that I understand the process up to the refi part so when it’s time to refi out of the HM what requirements are there from the banks (what kind of bank) to get the refi I understand that if you have high dti or you  can’t get a refi because I feel that will be a issue with already my personal mortgage car loan and cc’s also all the money and reserves I will have will come from business credit cc’s which won’t  show up on my personal credit report but won’t banks ask where this money came from

HELLO EVERYBODY IM AT A STAND STILL HOPING SOMEBODY CAN GIVE ME SOME ADVICE ,CANT SEEM TO FIND THE RIGHT ANSWERS ANYWHERE.IM A BEGINNER AT REALESTATE INVESTING AND PLAN TO MOVE FORWARD SOON WITH PURCHASING PROPERTIES WITH BUSINESS CREDIT CARDS MEANING IM TAKING MONEY OFF A BUSINESS CREDIT CARD TO BUY AND REHAB A PROPERTY OR USE HARD MONEY TO BUY AND REHAB THE PROPERTY AND USE MY BUSINESS CREDIT/MONEY FOR THE CLOSING AND RESERVES. AFTER THE PROPERTY IS PURCHASED REHABBED RENTED AND READY TO CASH OUT AND REFINANCE WHAT DO BANKS NEED /LOOK FOR, I UNDERSTAND I NEED GOOD CREDIT WHICH IS THE NOT THE ISSUE THE ISSUE IS BEING THAT IM NOT USING MY PERSONAL MONEY AND IM USING MONEY OFF BUSINESS CREDIT WILL THERE BE A ISSUE WITH THE BANK ALLOWING ME TO USE THIS MONEY CAN I STILL QUALIFY FOR A REFINCE BEING THAT MY MONEY FOR CLOSING COST AND RESERVES ARE COMING FROM BUSINESS CREDIT ***ALSO DO BANKS LOOK AT YOUR DTI ?

I’m late on this thread and have been doing so much research on this strategy my big thing is that I understand the process up to the refi part so when it’s time to refi out of the HM what requirements are there from the banks (what kind of bank) to get the refi I understand that if you have high dti or you  can’t get a refi because I feel that will be a issue with already my personal mortgage car loan and cc’s also all the money and reserves I will have will come from business credit cc’s which won’t  show up on my personal credit report but won’t banks ask where this money came from