All Forum Posts by: Daniel Hart

Thanks, I will review this. I am a bit overwhelmed since it is now the end of Jan and I don't even know how to send a 1099.

I've paid a lot of contractors for work on my rehab. I am supposed to be sending 1099's?

I agree that this route is the best option, but finding private lenders and convincing them that their money is truly safe is a challenge in itself. I just bought an Alan Cowgill course so perhaps that will help me.

That's a very good point about the fluctuation. Do you know how they calculate the minimum payment? I will have to check and see if the account I have can alter the interest rate based on my credit usage/score, or if it will remain fixed as long as I make my payments on time.

I can no longer get bank loans since I am now a full time investor. I am toying with the idea of using credit cards to fund the purchase of some solid cash flow properties. I have one credit card that is at 6.9% Fixed (not an intro) with $30k of usable credit. I know that I won't be able to get another one with a rate like that, but I should be able to find some 8-10% cards if I start shopping.

There's a few drawbacks that I can think of:

1) If I make a late payment on one, I've heard that the other companies are able to raise my interest rate on their accounts. Such a raise on multiple properties could be devastating.

2) If I max out the cards, my credit score may drop. However, I can't get bank loans anyway, so I figure I might as well put my credit to use and make some money off it.

3) I'm not sure how credit card payments are calculated/amortized. The payments even on a small loan maybe still be too high to cash flow properly.

I have some opportunities to get into some properties for about $25k that rent for $750-$800/month. I felt that with cash flow this solid a credit card purchase may be justified.

I look forward to hearing what everyone thinks!

After using services like elance.com for outsource services (usually data entry tasks) I noticed all of the other types of work you could have done.

I'm wondering if anyone has ever hired any marketing professionals for their real estate business, and if they feel that it was worth the money. I'd love to hear your opinions on hiring marketing professionals for this business, and if you feel that they can add value.

I'm not really sure what they specifically do, but I suppose I should learn ;)

Thanks Jonathan, I will check it out