All Forum Posts by: Erik Sherburne

Agree with those two. I was fortunate that my parents helped me open a CC account when I was young to build up credit. You could also get small personal loan from a bank, put it in an interest bearing acct and pay off that loan systematically. You'll lose a little money in interest but establish some credit

Congratulations everyone I wouldn't be where I'm at now without the forums, podcasts and inspiration!

I'm currently use a small 401k loan that I used to purchase a property and it was simple to get. I "ran the numbers" as though the payback was coming off cash flow of the property I purchased to make sure it made sense. Good luck!

Jeffrey Holst thanks and good to know. I have assumed that they are relatively stable for prices but when time gets tough it might be harder to find tenants that meet the criteria. Thanks for the feedback!

Tyler Evans great post! Keep up the good work!

For those seasoned long term buy and hold investors out there what have you seen with rent cycles? For now they keep going up but those too will change or at least not at this pace. When I analyze deals I always challenge it against the lowest rental rate in the area for a similar but less desirable property. If I still cash flow ($100+/month) then I feel good about it sustaining long term. (I realize there are a string of caveats but). just in general will there be a "correction" in rental rates? Down 20%?!? More?!? Less?!?

Also consider what in your offer besides the money could be a value. You might offer 5% under asking but be able to do a quick close or maybe they haven't found a place yet and you could do a late close

I have a couple properties on 7 yr ARMs. My logic is i have an exit strategy of about that time frame to move on to bigger properties (they are condos and a SFH). The ARM is a much lower rate increasing cash flow and/or I could pay down principal quicker as though I had a higher rate. What's your ARM strategy?

I'm curious about anyone's experience using HD or Menards to come in a do the rehab work (remodel a kitchen, all new flooring, etc)

@Erik Whiting Nice name and you spell it right too! The advantage I could see is additional write offs for another home office and various business costs. Just exploring possibilities.