All Forum Posts by: Steve K.

@Johnoson Crutchfield pay off the high interest debt, then learn about the finances of investing, then start looking for another deal. Learn about secured and unsecured lines of credit, hard money - real hard money, not that usurious BS that your "mentors" are charging - conventional loans, and commercial loans. The bank that is giving you the refinances on those homes may be willing to work with you for a line of credit since they have seen you succeed with these 2.

and another thing mentors are telling me.  2% a month is all you're paying to if I pay them off in 6 months I've only paid 12% interest and secured all the equity I could in that time frame.  Is that true?

Thanks @Chris Clothier. You are right. I also have to look at what I can swing. My income is not that high that I can go to the more recent levels. AT the same time I still don't want to go into C-class areas either. It's, like many people say, harder to find good deals and also more challenging to find good deals I can afford.

@Steve K. I was actually talking about Memphis invest, not Memphis properties

As @Mark Hart mentioned above, MI provides the PM along with providing the Turnkey properties. This was one of our main reasons why we chose to go with them and we've been very happy so far.

@Steve K., It's basically a fund that allows multiple investors to pool their money and invest in something. Are you an accredited investor? If so, there are about 15 good hard money loan funds to choose from. Each is a little different, so you can pick the one that is best suited for your risk profile, asset class, geography that you are looking for, etc.

Syndications can be OK, just don't be in a rush.

Don't put it all into one deal unless it's a really *great* deal. Which you might not recognize until you've seen a few.