All Forum Posts by: Rod F.

you said you paid cash for it, Cash out refi, or a heloc.   pay off credit cards, try to increase credit limits on cards. If you have a history with your banker he will work with you.

are you in an llc? Start working on building it to keep the loans off your personal credit scores.

Collecting rents isn't all bad. harder to rent listed but it can be done. but  rental income pays debts.    

Owner finance with a  down. There are plenty of options,  a lot of good ones have been listed.

BTY HI from another Arkansas investor. 

We have been doing business with 5 banks, after a couple of sells out it has dwindled down to 3.  local community banks. 

As far as business credit Separate ein numbers, separate llc.s   I am doing the same as personal credit building, Started with home depot , and lowe's . that's the big ones here, went from there to visa and master cards, home loans under each llc, now stating to work with dun and brad street. looks like that one is going to cost about 500 bucks. maybe after this flip.  Always buy and make a few payments and pay off  early.  nothing builds  credit faster that paid off early.  Not sure if this is the exact right path but it seems to be working.

I had a hard money lender approach me with 50k a couple of weeks ago. I am just trying to find the right deal to make that work with his expectation of a return.  

I found a local small town post office, 35 dollars a year.   :)    

Here a house went up for auction at the courthouse.  A neighbors brother bid $59,900. bank declined and said it would take 62K to buy it.  a few weeks later it was listed on the market I bought it for 42K.   I don't understand why this happened.  I was told by someone that it was the way to clear up all other liens on the property.   I personally don't bother with auction buying.  I'm sure many others do, Good Luck

I scratched one with a couch.  the little plastic tab on the leg was busted and a nail head protruded.  I used the color match putty.  No one has ever said anything else about it. But I see it. Now the rented decided to as the said "MOP THE HELL OUT OF IT" Now I have a ruined floor.   Going Back to Carpet.  I think TILE or stained concrete, is the answer to all problems

Nice rehab, curb appeal by planting grass on the small front yard, perennial ryes and fescues in virginia , we use plastic shutters here, cheap but effective.  3/1 it is what it is.

I'm currently  converting a 2/1 to a 3/1 . I will either pick up some rent with the extra bedroom.  or it's going to sell.  This is a military area also.

 I just watched a comp in the area I am working in list and sell . comps were 70 to 80's he sold it in 17 days for $59. , I wondered why so cheap. rehab was done nicely, but he sold it in 17 days.   Now that's one of my new comps I will have to deal with.  Good Luck.

Doing it now. first stop was my CPA. second was my Attorney. just to cover my bases.

Ira was set up with the help of a Texas company. Provident trust, (Nevada), Arkansas bases LLC. and funds held in local bank, I hold the checkbook. I cannot use the funds personally. only for the benefit of the IRA. Buying my second house in the LLC now.

Hoping to flip this one. Moneys will be returned to IRA. for future Purchases.

I have one in Jacksonville Arkansas working on now. If your in the area I can meet you.

I will be happy to take off work and meet you.

redo beds with Low maintenance plants, start weed control, reseed if needed. what kind of grass is in the area? is it shaded or sunny?  I grow grass for a living. clean up the place. neat and simple.  chemical applications are really cheap maintenance if applied correctly.

Renters wont take care of your place like you do. I tell them if they don't mow and clean the place up. I know a guy that does. his number is - - -- - - . if I have to call him the price doubles. 

I have 2.2 acres, beds are slowly growing in size. a few boxwoods , Liriope  some azaleas,

A few knock out roses for color and I get a lot of complements.

steel edging and a couple of pallets of cypress mulch.  a few planters for annuals and I use a professional weed cloth.  bermuda grass works here. easy to grow. easy to maintain.  

I would not give you my funds until you presented me with the deal, Showed me the comps and all the due diligence you would any other financial intuition.

I use a bank letter. You have your down payment and usually have 30 to 45 days to close. That should give you plenty of time to get the funds together.