All Forum Posts by: Kizzy Robb

@Brook Rieman - I know someone said they aren’t protected but what kind of laws are in place for tenants in your area? I would be careful and maybe get the advice of a attorney on how to proceed here. I’d hate for him to be able to sue you because of how he was removed from the property although he has a signed lease until Aug of 2019. I hope it all works out for you.

@Parker Russell - Hi, welcome! I think it’s great you’re ready to invest. I think it’s also smart to be proactive in building relationships with lender. I also think it’s important (most) to know what kind of investing you plan to do. It’s one thing to have a approval of thousands of dollars but it’s another to know what kind of investing you want to do, analyzes some deals, understand the cost it will take to get it done. I don’t think you’d want to under or over draw funds. Knowing or having a better frame for your investing is as important as the lender. Good luck with everything! It’s definitely yours for the taking!!

@Gilbert Dominguez - Hello Gilbert, Thank you for your advice. I agree credit is extremely important even if you do own free and clear. I agree anyone should work to build their credit, because at some point, growing your business will require banks/lenders. Thankfully, my credit is great.

@Steve Vaughan - Hard Money will always be my last option. I am concerned about the timeframe, although I understand I can re-fi that money. As a new investor, I want to see a positive cash flow, not have the pressure of paying or re-fi in 2 years or less. I’m not saying it’s completely off the table but for now, I am not comfortable with HML. I think each person has to weigh their options and go with what makes most sense for them.

@Alex Williams - May I ask, does the property have to be in a business name in order for it to be under a commercial policy?

@Steve Vaughan - Also congrats to you as well.

@Jason DiClemente - What are the general terms (years) for a HELOC, is it 10 years?

@Steve Vaughan - Thanks Steve. It has taken me some time to do this. In the process I often feel like I’m falling behind or I can be doing more if I start ulitizing the services of the banks but I have to know this isn’t a race. The name of the game is security and creating wealth at the same time. I feel I’m on the right track.

@Chris Jensen - Thank you Chris. Honestly I’ve been working so hard plannIng my next move that I really haven’t had the time to think about what you said, the accomplishment in it all. I am so new at REI, I just want to learn as much as I can. I want to make the right, calculated risk and grow my portfolio. This platform is helping me do that.

@Mike Reynolds - Great tip! Thank you.