All Forum Posts by: Account Closed

Hello Everyone if Knowledgeable. Can we share updated info for Arizona REI groups or investor mentors. Any info of contact would be appreciated!!!

@Gregory Greene I been looking and scaling out things myself although new to Arizona. Heres what I seen. Phoenix seems to be overpriced at the moment, but its tons of so called condos/apartments that are folding due to poor management. Yes you can tell those places are going under as soon you pull up. Tuscon area gives you same home as Phoenix and surrounding cities but for much cheaper. Areas like rural small town Bisbee multiunits are dirt cheap, cash flowing, but factor in the area of middle of no where and not up coming.

@Carley M. for your 1st NACA multiunit how long did you occupy the property before you refinaced?

@Frank Patterson Awesome!!! If the terms were different and required owner occupancy for 3 yrs would you still move forward with your deal?

@Frank Patterson typically how long is the loan typically requiring you stay in the property to satisfy there terms?

@Clayton Coombs again Thank You for the post!!

@Mark Fedorov, yes it will be a cash loan from business credit card in which is LLC based which is the same LLC as my business checking account. Reason asked is due to that I want to invest in my first property utilizing the 0% introductory period for the year. Being new to REI I wasn't sure of the best avenue to transfer funds whether it was personal or business account.

Interested in a balance transfer of funds from my business credit cards to a bank account for REI. Should these funds be drafted into a my personal checking account or into my business checking account?

What is the process of using a personal loan for a fix and flip for example, do I not pay the loan until the property turn a profit or do I pay the minimum balance each month on the loan? If required to pay monthly minimum my worry is I will not be able to afford the monthly payment and hurt my credit score. As a newbie how does this work any suggestions or advice?

Thank You for the insight everyone. It is very helpful in determining my decision!!!