All Forum Posts by: Julian A Beeks

It's pretty simple to create your own LLC. I would first go to Indiana's Business Entity Page and look up the name you plan on using to make sure it isn't taken. Then there's plenty of websites you can file your own and it'll save you money compared to hiring a lawyer. Hope this helps

https://bsd.sos.in.gov/publicb...

What are the pros and cons of both hard money and LOC. Which one do you believe is the best to use for someone who is brand new to investing?

Hi,

So I've been doing more research lately on financing, as I start to look at making offers soon. I have enough cash for a down payment on a 50K SFH, but not enough to rehab the property. I was planning on using a personal line of credit to fund my rehab as the interest rates are lower and I feel more comfortable going with a bank for the 1st investment. My question is how do payments work on a personal line of credit. For instance if I use 30K for the rehab at 5% interest, that would $1500. Would that be charged monthly or is there a grace period before I have to start paying that off?