All Forum Posts by: Benjamin Pifher

 Unfortunately the seller will not do that, that was the first question I asked.

So I have a new business a 2 properties in it. I found a 12-plex apartment complex that is pretty nice and I want to make an offer on it that would get me 6% ROI.

My problem is that I don't have the cash on hand for 20% down for a commercial loan. Could I use mortgage insurance to help me convince a lender to let me put down lower than 20%?

Fortunately the bank lets me label the accounts so I can see what unit and which account right up top and they line up in a nice column, with more units I'm sure I will have to find a different system so I'm curious what everyone else does.
How do you use your personal accounts and still track your business expeses? 

So with my business, I have 2 separate bank accounts per property.  I put deposits in one for each property and try to ignore that money altogether as my ultimate goal is to be able to give that back to the tenant.  I use another account to place rent into and take expenses (mortgage, etc.) out of.  
As it grows it will be quite a few accounts to pay attention to, but so far it's working.  What do you do? How should I change my model going forward with more properties/units?

 I've had these rates for almost 10 years, and every card I've gotten except one has been at 4% and stayed there.  I'm not sure how I accomplished this, but I do have excellent credit.
I'm just sort of wondering what my huge incentive is for paying them off quickly is other than clearing the payments every month.  

 The debt is all credit card, and I don't pay more than 4% interest on any of them.  I have 2 single family homes, one of which used to be a duplex and I'm considering returning it to one.  The total mortgages between the two is about $2300, as I lease both of them to friends who are taking very good care of both properties I'm not upset as I probably should be about not making as much as I could be.  
The payments for the $9K is what is hindering me from building for a down payment, and I've been putting pretty much all of my personal money toward that debt so I don't have much to fall back on. I know the markets are changing right now, but I would like to clear my DTI so that I can more easily finance another house in the near future (hopefully 9 months to a year).

This is my first post, so sorry if it lacks form.
I'm a new real estate investor that just moved into my second property with 2 tenants.  I rented out my first one with some cash flow, but my second one I do have to pay a small amount out of pocket to live in.  I do take home about $350 per month between both properties so I have some, but not much income from them.
I still have some debt (about $9K) that I need to get rid of and I'm wondering if I should pull any money out of my business accounts to do so or should I let them grow?