All Forum Posts by: Ralph Santos

@Andy Wong....that's so true about banks. I'll probably open a business account with a credit union. I feel like i will have a more personal relationship with them.

I'm just beginning to build my property investment portfolio. As a beginner, which should i choose to open my investment portfolio account with? Should i go with a bank or with a credit union? What are the pros and cons to both, if any?

Will do. Thanks Celine.

Thanks for the great information and advice Joel.

I currently own 3 properties with no mortgages. I have a little over $550,000 in equity on all 3 properties with my primary residence having the bulk of it, currently around $330,000. My other 2 properties are rentals. One is currently rented but the other one still needs some renovation, not much though. I'm looking to get an equity line of credit to help finish the renovation and also to help with future real estate investments. My credit score is in the mid 615 - 630 range. My local small bank is trying to work something out and asked me if i was willing to use my primary residence as collateral. I would prefer to use one of my rentals as collateral but that would decrease my Line of Credit as the rental is worth only $120,000. The one being renovated is worth around $115,000. What would you do if you were in my shoes?

Would you buy a rental property or a home to live in for that matter, with a Radon Mitigation System? Will that property be difficult to sell? What are the pros and cons for the seller of a home with a Radon Mitigation System installed? What are the pros and cons for the buyer who wants to rent that particular property to potential tenants? Will some renters shy away from a home that has a Radon Mitigation system installed?

There is a one family house (3BRS & 1bath) that I am interested in buying as an investment.The house has laminate floors throughout except for the kitchen and bath. I'm not a big fan of laminate floors but they are in good condition. Would you purchase a rental property with laminate floors if you can get a good price for it, bearing in mind that tenants will probably not take care of them just because of wear and tear?

Thanks to everyone.

Greetings. This is a FANTASTIC forum with a wealth of information. I look forward to learning as much as i can. My journey to wealth has just begun. Thanks a MILLION to everyone involved.