All Forum Posts by: Melody Robinson

I just bought my first house using a VHDA plus loan & I’m house hacking to cover some of the mortgage. I’m going to make updates to force some equity and eventually rent out another room. I don’t want to move too slowly and would like to plan for my next purchase (my goal is to get another by the end of 2020). I’ve got information overload and would like to hear from some of you about how you progressed into acquiring more properties & the specifics of your deals, so I guess my question would be how could I actually go about purchasing a second property? How difficult is it to get a second mortgage, what are the parameters etc?

@Greg Davis I thought so. If you have the time I’d love to get some insight from you.

@David M. This is the thing though I don't want to apply for a mortgage I want to be able to use my lines of credit as a means to make down payments are you know even buy smaller homes for 20-40k. I hear that credit through business has better terms/interest rates as opposed to Personal. Then go and cash out refi to get the money to pay back The amount I used. Have you ever done anything like this? I see it as a way to borrow from myself without having to go through PML or HML

@David M. I've been told that your Business does not actually have to be accumulating profit in order to apply for business credit. Also shortly after opening your LLC it's possible to apply for beginner business credit cards such as gas, Walmart, target, etc to establish yourself. I don't believe you are required to sign a personal guarantee that's the whole idea of separating yourself from your business it might be a little bit more difficult but I believe it is possible.

@Amy H. Are newbie investors welcome as well? 😅

@Emmanuel Depas

I’d love to chat with you about your out of state investing strategies!

Does anyone have experience with opening an LLC to acquire business credit & use it to invest?

Hey everyone, I’m looking to connect with similar goal oriented people on investing & real estate as a whole! In the Richmond, Williamsburg, Hampton Rds area. Thx!