All Forum Posts by: Shera Linares

@Bruce Woodruff

I agree to that. There was a homeless problem built up in my mom’s city (Santa Ana, CA) a few years ago and I remember on the news hearing about people who want to be homeless. They were getting free food, shelter, and even cell phones!! In our area, most homeless I see seem to have mental issues or are Vets, which is sad, but the other majority want to be homeless because that’s their lifestyle and it bares them no responsibilities!

I personally would pass on this type of program unless there’s a heavy screening process by the government and goals for the homeless person to get back on their feet. It would be nice helping someone who wants the help but that seems far fetched within the homeless population.

Is anyone on this thread familiar with the East/West Price Hill area in Cincinnati, OH? I'm looking at properties in the area to BRRRR. TIA!

Hi Everyone! What would be a GREAT incentive to offer someone (HML/PML) who is looking to park their extra cash into a property for 3-5 years? And when I say extra cash, I'm saying $250K - 300K! Thoughts?

@Willie A. James III

Wouldn't "borrowing" the down payment be another HML essentially? I'm looking for ways to fund a down payment myself.

@Tom Degroodt

I wouldn’t rely on a tenant to be responsible for changing the filters, or any maintenance work, unless they offer. Some people who rent do so to forgo the responsibility of owning and maintaining a home. Why would they change the filters in the HVAC? Most people who rent probably don’t even realize that needs to be done.

Hi @Briyana Hawkins, did you move forward with getting a business loan? I'm looking into it myself so I can get the ball rolling on investing.

Wow @Sergio. You got through a hell of a lot more pages than I...I got through page 5 and had to skip to the end to see if anyone has recently used F&G. As for liquidating the card, I actually did a cash advance option through my personal credit card back in 2019 because they were offering 0% APR for 18 months. At the time, I cash advanced $12,000 for a nominal fee to help towards a down payment. Then when I refinanced a year later, I paid the balance off on my credit card. I'm guessing the same concept would be used if I were to go through F&G. The problem I see is usually the 0% APR options are introductory promotions when you get a new credit card. Once you pay the card back, the 0% APR promotion no longer exists, so I would have to go out and get another new card.

@JD McKelvey Did you end up taking the plunge with your wife? I am wondering if anyone now has used F&G since this thread is several years old.

@Tina Jenkins I know this was posted over 2 years ago but did you end up going with BHG (Bankers Healthcare Group)? I'm actually working with them now to acquire a business loan but my face is cringing... lol. I'm not sure if my gut is telling me no because this is a bad idea or I'm just cringing because this is new and unknown territory for me and I should move forward!

Hi Jonathan,

I would buy if the price is right. Have you thought about looking for an off market property that might need some work?

As for dealing with the HOA, I'd avoid it if possible, but that is my opinion. I bought my condo October 2019 and I am paying on renting it out now and moving on. My HOA management changed a few months after I purchased and my monthly dues have increased twice in less than two years. Definitely check the CC&Rs of the HOA BEFORE purchasing. There could be limitations and time restrictions to renting your unit out. Also, there are likely guidelines that need to be followed if you are renovating the interior of your unit. For example, the upstairs units in my complex cannot have hard wood floors or tile in the bedrooms, they can only have carpet... and all renovations must be pre-approved by the HOA before they are completed. Luckily, I purchased a ground unit because I don't plan on having carpet in any of my rentals but I personally don't like to have restrictions. Try to find a SFR to house hack if possible. I know it's expensive out there, so good luck!