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All Forum Posts by: Lisa Coleman-Schmid

Lisa Coleman-Schmid has started 4 posts and replied 21 times.

Post: Obtaining business credit

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

My personal choice is a virtual office. OPUS  Virtual Office is the one I use. Regus and Alliance are a couple of other popular ones.

After you are done reading creditboards, go to MyFICO.com into the community/forum and read the business credit section. 

Post: Business credit startup

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

Are you looking for general net 30 companies or are you looking for ones that are good for starting business credit without a personal guarantee?

Post: Obtaining business credit

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

Kenneth is correct. It does take time to establish business credit. Even if you don't think that you need it right now, establishing it properly now will allow access to larger lines when you need them. There is a lot of information available about how to do this the right way. It would be to your advantage to create an entity (LLC, S-Corp, C-Corp) and to get going with starter vendors like Quill.com Also, for sake of credibility with future lenders, DO NOT use a PO Box or UPS Store address for your company. Most lenders and credit issuers will throw up a red flag with either one.

I am an investor and I have a company that offers business credit coaching and business funding qualification preparation. PM me if you want more info.

Post: The Gentrification Issue

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

@John Thomas Robinette III  I am neither happy nor unhappy about the changes. After I grew up it already was no longer the neighborhood I remembered. I had no attachment to keeping it the same. The only thing that really disturbed me is the thought that some of the seniors that owned their homes might be forced to sell because  the increased taxes were too much to handle on a fixed income.

Post: The Gentrification Issue

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

Having grown up in a minority area of Brooklyn, I can actually speak to both sides of that issue.

There was a certain amount of comfort in the social bubble of the community but I moved to long island after having a well paying job for a number of years. I did so because my children had access to better schools and opportunities. This is what commonly happens when someone in such communities does well; not because they don't care about the rest of the folks, but because they are not willing to sacrifice their own children to bring up the neighborhood.

With gentrification the culture of the community does change. Communities change because with time communities change. Bed-Stuy (a Brooklyn neighborhood), for example, was primarily Majority when my Great-Grandfather and Grandfather bought it, it was mixed when my Dad and his sisters were growing up, it was primarily Minority when I was growing up and it has switched back to mixed in recent years. No place actually ever really stays the same. Bringing in economic opportunity has limited success unless you can change the educational levels and mindset of the local community.

A SEPARATE issue is affordable housing. NYC is starting to run short there as redevelopment spreads.

Post: Seeking cashout refinance on my triplex (Upstate NY)

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

@Lana Forbes The request was sent. I can't seem to send further details until you respond to the collegue request.

Post: Seeking cashout refinance on my triplex (Upstate NY)

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

I  am, yes.

Post: Money Tied Up...What to Do?

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

I know this is an old post, but have you considered marketing the property to investors as a turnkey investment property?

Post: Seeking cashout refinance on my triplex (Upstate NY)

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

Hi Guys,

I'm looking for a private lender so I can pull cash out of a triplex that I own outright.

The property should appraise between 60-65k and it nets about 900/mo AFTER expenses. I am looking to pull out about 45k-50k to finance other projects.

Post: New to investing and a little discouraged

Lisa Coleman-SchmidPosted
  • Investor
  • Amityville, NY
  • Posts 22
  • Votes 6

If you ever want to make yourself miserable, spend your time comparing yourself to others.

Leave off of the slow lane/fast lane thing. It isn't useful. A one year old that is learning to walk will think that a two year old that can run and jump is amazing. It doesn't mean that the one year old is inadequate; s/he simply is not at that stage yet.

Keep reminding yourself that in one year you will be in a better position than if you did nothing. Even if you don't get a deal in that time, you will be better educated and more experienced than if you quit.

Make sure your numbers work and don't try to force it. You'll be okay.

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