All Forum Posts by: Kizzy Robb

@Eric Veronica - Thanks Eric and you’re right! The HD card hasn’t even been used yet. The personal LOC has been and it is over 30%.

Hello BP! I recently opened an retail account up (Home Depot) to help with some of my projects. I also opened a personal account up as well, close to this HD card. My credit score took a dive of 30 points. 30!!! And it’s been over a month and has not recovered. This is concerning to me, it took me so long to build my credit up to ensure I get decent rates now this. If you’re an investor, refinancing a few times a year or even monthly how does this impact your credit score and rates? I have been planning to scale my business in 2019 and start looking at purchasing once a month every month. If my credit score will take this kind of hit each time, how can I achieve this? Pretty soon if this keeps up I’ll be in the low 600s. I started off at 730.

Hello BP, I have visited at least four small banks within the STL Metro area shopping around for HELOCs on my rental property. I’ve been told by them all they do not offer HELOCs on rental property. I’ve tried banks I have a relationship with and those I do not. I have two questions: 1st - If I am unable to secure a HELOC on my rental property (no mortgage) what are my other options? 2nd - Does anyone know of a lender in or out of state who could offer a HELOC for STL investing?

@Stephen Neto - My advice is similar, I would look over the lease and begin the eviction process as soon as possible. I had a tenant who was unable to pay second months rent, I started the process that month. In this case after communicating to her the damage a eviction would be to her credit, she agreed to pay me 80% of what was owed and move out by a specified time I gave her. She did this and within two weeks I turned it around and had another person renting it. I was firm and I made sure I followed the law here in MO. If a person is late once, typically they will try to be late again, don’t be “nice”. She originally asked if she could stay longer because of her new situation, I explained to her (some won’t care) how I’m loosing money. I did the math, seriously for her. Then I asked, would you leave that amount of money on the table? No, I need you OUT!. She left but still, they will try you. Best of luck.

Hi BP, I’m thinking of purchasing several multi family units on the same block. All together it could be between 8-16 doors. I want to provide security parking for the tenants. In order to do this I would need the city to demolish two structures that are abandoned and condemned. What are some strategies to get the city to partner with me to revitalize this block?

@Brian Ellis - This is exciting and inspiring! I am excited about my first BRRRR. Keep up the great work.

@David Ounanian - lol - It's a different view from my phone and the computer.  I look forward to meeting you and others during the meeting.

@David Ounanian - Thanks, How do you RSVP?

@Megan 

@Megan Greathouse - Hello - Is there a fee for the event?

Hello - Is there a cost to attend?