All Forum Posts by: Chris Teti

Hi David, yeah I don't get involved in any of those types of situations (daily payment plans and front loaded interest). I agree they can be dangerous. Also, it's important to have an exit strategy as the unsecured lines of credit are best used for temporary financing. 

Hi Monte, normally for a residential mortgage your "gap" funding (down payment, closing costs, etc etc) need a seasoning period of 30-90 days before the lenders will let you use them. HML and commercial mortgages usually don't require this seasoning period. Leveraging unsecured lines of credit is a great idea and what we help people do every day.

What kind of example? 

@Nick Rutkowski

Yeah, always :). It's good you are looking for these opportunities, but I think your gut was telling you something on this one :). 

Also, I work for a company that helps investors and business owners access unsecured lines of credit. If you are coming across people that are a good fit for that, we should talk about it. We have a really good referral program that may make sense for you. 

I would get the referral fee and get out of it. If you are the middle man it gets way more complicated, costly, and time consuming. 

Hi Kaitlyn, I always think investing and house hacking like that is a good idea. I wish I did it when I was younger. I would recommend making sure the #'s work where you have an exit strategy for your IRA $$ within 6-12 months. Also, if you are interested I can help you get access to capital for your gap funding so you don't have to touch your retirement. Message me if you want to discuss it further.

HI Bob, always appreciate the feedback and other perspectives, that's how we learn. It must be either a lender by lender difference or maybe things are different in different areas of the country.

Most people know a hard money lender or a commercial bank, but very few know how to acquire Unsecured Lines of Credit to complement those lending sources to 100% finance their deals. And even fewer people know how to properly use the capital once they have it

In my opinion, leveraging Unsecured Lines of Credit and combining that with a hard money lender or commercial bank for flips and BRRRR rentals is the best way to go. $0 out of your own pocket, 100% using bank money, and easy access to the funds when you need them.

What do you think?

Hi Darryl, my opinion is that if you try to wait until everything is perfect, it won't ever happen. There is also "good debt" and "bad debt". I work with a company called MB Capital Solutions where we not only help you get access to capital to do your investing (without using your own cash), but also to recommend best practices to position yourself the right way. I've seen too many investors dig themselves into holes trying to do a deal that they aren't really setup to do and run into trouble.