All Forum Posts by: Jeffrey Holst

@Nicole Heasley Beitenman The more times you go through the process the easier it will be to know what banks want to see but in general,  A personal financial statement (list of debts and assets--shows net worth), a summary of your current cash flows (shows where your money comes from and goes to AKA a global cash flow statement), tax returns (for non commercial loans), a bio (tells about you and your team), a deal summary (info about the current deal) and maybe a summary of prior deals that are similar that you have done

@Heidi Foster I'll tag @Jenna Crye @Kelly R. So they invite you to next one sometimes the keyword alerts aren't perfect for meetups

@Brendan Harvey no problem

@Heidi Rau keep an eye out for our BP meet ups here in Chatt, we had one last night they are typically the third Thursday of every month, if you set a key word for Chattanooga you should be able to notice the next one.

@Heidi Foster welcome

@Mike Dymski 100% agree if one feels they have enough it's okay to simply stop. However personally I think when one wins and quits they should probably lower overall exposure to real estate rather than cut out leverage. Keeping a couple choice properties might make sense if you aren't going to pay attention but mentally checking out on real estate is in my mind riskier than leverage. I do however see that it's fine to say I have a enough sell some properties to pay off others so you can take a less active roll and still have decent returns but when you do so you are less diversified and will get lower overall returns which is completely fine if you are at a point in life where you don't want more. Say you are retiring and want to maintain rather than grow or whatever.

@JD Martin solid additional point. I completely agree and often consider guaranteed returns as an element of when to pay something down. I should have included that as well.

@Jason Ma talk to other investors net work and learn. Compare notes and do what you can to find sold prices near by ie comps for arvs but basically keep looking at deals until you know a good deal when you see it

@Ricardo Suber best bet is a short sale or quit claim to bank also known in some jurisdictions as a deed in lieu of foreclosure. Next best option is probably bankruptcy assuming you don't have significant non exempt assets at risk and don't exceed the income thresholds for a chapter 7. Not a great situation but you need to rip off the band-aid and get rid if this deal by whatever means possible.

@Luka Milicevic awesome. I started the year at 1 post and plan to end it north of 750. 1000 will happen next year some time