All Forum Posts by: Lateefah Mathews

@Murray Reginald I totally get where you're coming from. I help investors with that business credit strategy also, and the key here is sticking with the BRRRR strategy. As you mentioned, with BRRRR, you can cash out refinance and pay yourself back. When you pull out the equity during the refi, that's how you'll pay off your business credit debt, as long as it covers your initial investment and closing costs.

The challenge is that if the refi doesn’t cover those debts, it could be tough to pay off the business credit without running into cash flow issues. That’s why I always advise using large amounts of business credit only if you have an exit strategy, like a fix-and-flip or a BRRRR with a cash-out refi. 

@Fawzi James Jr  Welcome to the world of investing! West Marietta and Powder Springs (especially near transit or with finished basements) can be great entry points for your house hack. Prices have risen but remain more stable than other nearby markets, and rental demand is strong, especially in certain West Cobb neighborhoods. Growth is steady, not overheated, and room rentals perform well with the right setups. Michael's right, you will need to occupy the property for 12 months with a 5% down conventional loan.

 @Sandro Figueroa Here's the good, the bad and ugly with Gwinnett, inspectors can go beyond just the scope of your permit...especially if it’s clear work was done without permits. That bonus room and laundry setup might get flagged, depending on who shows up and how they’re feeling that day.

Sometimes they only check what you’re pulling a permit for, but other times they’ll want to see it all and could ask for demo to inspect behind walls. It’s not guaranteed, but it’s a risk. As I mentioned before, you can always call Gwinnett directly... dont give them an address, just pretend like you're looking to buy a home and need this info before proceeding.. Good Luck!

@Joshua Kavadi Hey,  I think I saw a post of yours about contractors before. Have you not found one? I’m gonna give you a quick call and share a few solid recommendations,people I’ve worked with personally and who’ve helped some of my clients. 

Look forward to chatting with you!

Welcome to BiggerPockets, Cade!! Love your energy and drive especially jumping in early while still in school. Do you have a strategy in mind yet? Like, are you thinking about house hacking as your entry point or exploring something else? 
Atlanta is a solid place to get started, and there are so many creative ways to invest. I’d be more than delighted to assist however I can and would love to hear what direction you’re leaning toward!

@Shaheen Ahmed I’m in alignment with Taylor’s comment... although I might be a little biased as an investor-focused agent. Your best bet is to find a trusted, investor-savvy Realtor on here. They’ll help guide you through the process, assist with calculations, ARVs, and ensure you’re getting into the right deals. Having the right team in place can make all the difference!

@Rogelio Adame Welcome to the BP family! Although Indiana isn’t my stomping ground, it looks like you have a solid plan in place. With your strategy and niche dialed in, you should hit the ground running in no time. Much success to you on your journey!

Congrats Kedric! That’s a huge milestone, and it’s just the beginning. Wishing you continued success as you build on this momentum!

Hey @Ashley Chris! It depends on what you're trying to accomplish. If your goal is asset protection and limiting liability then just putting the LLC in your wife's name may not necessarily shield you, especially if you're still actively involved in managing the property. Courts will look past LLC ownership if they determine it's just a workaround for personal liability (ie. "piercing the corporate veil").

Instead, you might want to speak with a real estate attorney or entity structuring specialist who can help you set it up correctly. Someone like that can help set your entity up to provide the protection you're looking for.

Another thing to think about is that managing your own properties under an LLC may require you to follow property management laws in Arizona. Something to double-check before moving forward.

Hey, so that answer is actually yes and no. You can't use this method to buy the property outright, but you can extrapolate these funds to cover your cash to close... so technically it's not just limited to paying contractors. There's a way to strategically free up reserves by structuring it correctly.That said, I wouldn't advise using this for a buy-hold strategy at all. It's much better suited for BRRRR or fix & flip deals where you need liquidity to move fast. The key is making sure you're maximizing flexibility without overleveraging.