All Forum Posts by: Corey Robinson

@Account Closed

Thank you for your input guys!!! My idea was to reinvest the cashflow back into the business.  I already make good money so I'm planning more for the option of early retirement.  I love what I do now but it's always a good feeling knowing that one day you won't have to clock in for a paycheck.  I know I can scale up pretty fast but don't want over leverage.  Ideally I want to a buy property, save six months business expenses then buy another property and repeat this number until I get to 5 then focus on paying them down even if it takes a little bit longer than expected.  

Hi Guys!

I was listening to "The Rental Income Podcast" with Dan Lane and one of his guests Andrew Holmes spoke on a way to build a great foundation for your portfolio when you're starting out and how to pay it down in 7 years.  Here's the formula:

Andrew’s investment strategy adheres to what he calls the “2-5-7” formula. In 2 years, the goal is to accumulate a minimum of 5 properties and pay them off in 7 years. Andrew said, “The formula doesn’t change, it’s just the number of properties, how much cash flow you want to create, and you scale based on that.”

http://rentalincomepodcast.com/his-simple-formula-...

So my first question is has anyone heard of this method and implemented it? 

My second question is can this work with Turnkey properties?

Thank you in advanced!

@Jaye Seay they set up an entity for you which then they'll apply for business lines of credit.  I've been watching my credit through the process to make sure my credit wasn't affected and nothing has changed since I've applied.

The webinar they had was pretty informative.  Here's the link:

https://www.youtube.com/watch?v=WXNiLo1eh44&feature=youtu.be

@Account Closed If you any other questions just PM bro!

@Donnie N. Here's the link to the webinar that I watched before I signed up:

https://www.youtube.com/watch?v=WXNiLo1eh44&featur...

They told me in my call I would be able to get a checkbook from the banks/credit card companies I applied for and write a check to be deposited in my account.  From what I understood the max most of their clients pay is a 2% charge of whatever you pull off which is far less than 27% for a cash advance.  They promise 0% interest for 18 months and will teach you how to continue to get 0% or low interest on your cards year after year.  I'm a big believer in leveraging other people so I asked if I could re-enroll into their program just so they could continue to negotiate 0% interest on all my cards and they said plenty of people do that and that they offer a discounted price if you do.  Right now I'm in phase 1 so they're getting the lines of credit for me and the next phase will be teaching me how to pull cash off the cards and how to keep that interest rate at 0% so time will tell if this was a good investment but I'm happy with my results thus far.

@Account Closed I have accumulated around 40K with all three cards so I'm hoping that value will double by the end of the month.

I'm currently using Fund & Grow right now as well.  They sent my apps out April 28th and I currently have three out of the four cards that they applied for.  They're currently negotiating to increase my limits on these cards.  They have been successful in increasing the limit on one of my cards and will start the negotiations on the other two next week.  So far I've accumulated around 40K already so I'm excited to see where I'll be at by the end of month.  Like Justin said the process is a little bit more lengthy than expected but I'm happy with the way things are going so far.

Hey Guys! I'm new to BP living in Florida and currently looking for turnkey providers in the Indianapolis area as well as property management companies in the case that the one the turnkey company provides isn't a good fit for me. I've talked to Morris Invest and Cashflow Savvy and I found Pinnacle Investments, Norada, American Property Investments and Maverick Investment Group on Turnkey-reviews.com. I've already read the thread on Morris Invest and wanted more options. Have any of you guys had experience with the other companies I mentioned? And could anyone point me in the direction of good property management companies in the Indianapolis area? Thanks in advanced!!!