All Forum Posts by: Laura Williams

thanks @Jesse T. !! You're the second person who has told me they didn't like the window awnings. Maybe something I need to think about taking down. Appreciate the feedback. 

Hey @Elizabeth Colegrove   The other houses on the block are similar style with the stone. I would say they are more earth tone paint colors...browns, smokey blues, white, tan  etc. Nothing really bright & poppy. This house will be able to be seen from 3 sides cause it's on the corner. 

I'm doing a rehab on this house & kind of confused what colors to use to paint it. The current paint is not in good shape & peeling so it does need to get redone.  Would love to get some ideas. The stone has some warm tones so trying to find a color that will compliment & give the house a classy upscale feeling. The house next to it is white &  no house on the other side (corner lot). Any ideas are appreciated. 

Thanks so much :) 

My take on the issue is this:

People who aren't financially intelligent or people who consistently make impulsive and foolish decisions with their financial matters will definitely benefit from Dave Ramsey's message of being disciplined and saving etc. 

But for people who are smart and financially responsible they will benefit more from Rich Dad/Robert Kiyosaki message and will need to use debt to really grow to their potential. 

I don't think either is better or worse but just works for different types of people.

Just my 2 cents

one of my friends who is also an out of state investor has bought over a dozen places in Indianapolis through @Lee Smith and is very happy with his services

@Jaime Morales If you're investing out of state I find that almost all of the team is going to be in that state. The biggest help to me so far has been reaching out and connecting to other investors (both local and out of state) investing in my area. It really helps to be able to ask for recommendations on potential team members that have a solid track records. You don't have to invent the wheel this way. There's so many little quirks of certain areas that could come up and really helps to have other investors that are doing exactly what you are that you can ask for help.  

@Michael Cornell Have you tried an asset based lender?? [REMOVED] But I would look into someone like that..sure there has to be others around too. Otherwise is there anything you can do to help increase your credit score to make it palatable to lenders?? 

@Anna Watkins 

From what I have found from asking around ( I'm not an expert) for conventional loans you do have to wait a certain amount of time before you can cash out refinance. I believe it's one year to cash out at the appraisal value (maybe less time to refinance based on what you paid) and once you have 4 loans you can't cash out refinance on a traditional mortgage anymore. However a portfolio lender will cash out refinance the next day or whenever they feel like it depending on that certain banks rules. If I were you I would definitely refinance so you have your equity line available for the next deal as you can get the best prices and discounts paying all cash. 

Some commercial or portfolio lenders will allow you to finance in the name of your LLC if you are personally guaranteeing the loan or your LLC has built up good credit & reserves.

Otherwise you can finance in your own name and then transfer title to your LLC after purchase. But if you do want to refinance that way you'll have to put the property back in your name for the refinance and then transfer it back to the LLC again after. I have heard there is a small chance that transferring title can cause the loan to be called due.

In NYC people would buy a deal like that (and much worse numbers) because they are hoping for appreciation like what happened 10 years ago. People seem to think that property prices here will double every 10 years. Or it might make some sense to buy if you wanted to live there because you get a big tax break which could make it slightly cheaper than renting & building some equity at the same time.