All Forum Posts by: Donnie N.

@Drew Cameron Do you mind sharing which service you used? Love to have something to compare it with. Agree with @Michael Perry that the upfront charge sounds more logical. However if your, Drew, service will do the extra leg work to convert the funds in to cash for purchase then paying the little extra might be worth the effort. 

What do you guys think?

Thanks @Corey Robinson and @Justin Sheley!!! Looking forward to hearing about how the whole process goes in a few weeks. So far it seems like it's not a big deal. The only draw back (minor) is the  time period from application > credit > cash > purchase. Good luck guys! Keep us posted. 

To the group.

So this might be a dumb question but help me understand how this works. (as I’m still interested to look in to this as an option in the future.) How do you convert the credit in to cash for purchase? Do you have to get a cash advance from each of the individual credit cards? If so, what’s the cash advance penalties? If any. Once you get the advance, is it then transferred to your checking account (per say)? Or do they give you checks and you have to write yourself a check to then put into your account?

Just want to get a fuller picture as to the overall timing from application process to actually getting the cash in to my hands to actually conduct the purchase. Also, how long do you have to pay back the credit cards before any interests kicks in? 12months? If you don’t pay full in 12 months, then what happens? Does the interest kicks in? If so, how high/low is it?

Thanks again for starting this group. This info is very helpful. At least we’re not talking to a sales person and just exchanging ideas.

@Mark Ainley ah. Ok. Thanks

@Mark Ainley What was the second part of your reply? I'm always curious as to why some post are removed. 

Thanks @Justin Sheley for the update. Good to know the timing expectations. Good luck. Looking forward to seeing how the rest of your process goes. 

Does anyone have any good recommendation for a good property management company? I have a property around the Chicago Heights area. The property management company that I have is not super great. I’m looking for recommendations. Please PM if you have any advise. Thanks!

@Petr Anisimov @Justin Sheley  Guys, thanks for the clarification. That makes more sense to me now. I look forward to hearing about how it goes for you guys. Keep us posted. Thanks!

Thanks for posting this @Justin Sheley. I was starting to look at this as an option. Love to hear about your experience as you go. 

• So they charge you $3,000 for the initial setup fee? ( I see $3,500 on their site)
• What else is there after?
• I see a $50/month fee some newsletter. Can you opt out of that? Or is that like their membership fee?
• Do you have to pay the $3,500 fee every 12 months?
• I also see that “Clients pay 9% of all funding received.” - So does that mean if I get a $100k credit, I actually owe $109k?

So if I get a $100k, I'm paying roughly $12.5k for the service fee? (9%{$9k} + $3.5k) So I would essentially be paying 12.5% for a 12month line of credit. Am I off with my math here? If not, then the ROI on the investment has to be over 12.5% to make this worth it right?

What other downside is there to using a service like this?

@Diane G.

A burnt down meth lab...HAHAHH....not sure if you were serious when you posted this...but this is the funniest one I've seen in a while. Well, good to know that if this one gets bid out, there are 3 other meth labs within a mile that you can buy. Maybe cooking rocks is the way to go. no need for rehab, no need for tenants, no need for insurance...high return...HAHAHH

@Tyler Jahnke

Can't wait to get your report back from the trip. Thank you so much for chronicling your journey through this. The rehab is looking good man! Good luck on the trip!