All Forum Posts by: Nicolas Lam

I used fund & grow in 2021 my credit was solid in the 760 there job was to obtain for me business credit in the 12 months they work they were able to obtain $127,000 in just business credit. My wife on the other hand had new credit but a 700  score they explained we need it to get her personal credit and then in 6 months apply for business they did combine $77,000 in buisiness  and personal the best thing was my credit score only drop 6 points and yes I used Kaydem financial to remove inquiries worth the price I got a total of $204,000 all interest free and yes its been 7 months since I complete it my funding all credit cards are active about to start the process again why pay a hard money lender points and high intresst when I can just use my credit card to buy real estate low interest no points 

Is Fund and Grow a good company? I understand they have 12 month subscription services, does anyone have experience with them in regards to buy and hold real estate? Does those credit lines need to be paid off by the end of the 12 month subscription? Or using a hard money loan or other creative financing a better route to go?

@Zachary Samuel - if you have substantial capital and income and don't want to anything high maintenance I would suggest private lending, jv or syndication.  It won't be the highest return on investment but you can probably get better returns than the stock market at potentially lower risk if you do it right (money secured by real estate).  Early on (10 years ago) I think the private lenders I worked with made more than I did on certain deals!  On my current larger commercial deals I usually bring in 1 or 2 money partners.  They put in money and get equity along with a nice return.  In the next few years I will probably being doing that myself by investing in other investors' deals along with my own.... because there's only so much time in the day and when your money is working for you...it's working 24/7 and can be working in tandem with you effectively creating an unlimited return.

As I was looking for information on developing a mastermind group, I started reading (listening on audible really) to The Success Principles by Jack Canfield. As I was listening to the book, one concept really stood out to me. Ready... Fire... Aim. Basically the concept was, take the shot and then adjust based on where the bullet goes. And then shoot again.

I really like this principle and I think it is a great one for new investors to consider. In my opinion, it is impossible to know everything that you should know before you purchase your first deal. You will most likly not hit the center of the target on your first shot. However, your first deal could help you get a baseline by which you can adjust your aim for future deals.

Each time I do a deal, I learn something new that I can take into the next deal and so on and so forth. However, if I were to wait to know everything that I should know before investing, I’d still be waiting to invest today. 

When have you used the concept “Ready... Fire... Aim.” worked for you in the past? Good or bad.

Disclaimer: I am not encouraging people to be reckless when investing in real estate. I, like many others, believe in working with mentors, coaches, and good partners with integrity when investing to mitigate the risks and lessen the likelihood of serious loss while starting out with investing in real estate.

I have been trying to learn more about the self-directed IRA because my potential investment money is currently setting in a traditional IRA. I find the BRRRR method most appealing. Would I be able to purchase a home, rehab it and refinance all inside of a self-directed IRA?

I have read a few free books on kindle about the IRA, most are sales pitches for the IRA company. One sounded very appealing but wondering if it sounds too good to be true. They said you can set up an LLC and invest in the LLC, not the rental. This would allow me to remove a lump sum from the IRA (one transaction fee) and transfer into my LLC to spend without needing the IRA company to write the checks.

My disclaimer! I am not looking for a loophole to spend my IRA on other things, I do not want to get into a gray area that could cause me more grief than it's work.

Thanks for any advice,

Charlie

Been listening to the BP Podcast started at Number 1 currently at show 170! Great information!

Cash-out refinances to get some of your SDIRA or Solo(k) funds back to use for the next investment is very common. Expect about 60% LTV on the loan side of what you have invested in the property. No seasoning needed.