Chris Seveney

I’ve been thinking of ways for my wife and I to quickly get out of the debt we’re in. Right now there are multiple things we owe on. We own our family vehicle out right so my thought was to take a loan out on our vehicle and use the money to pay off the rest of the debt. Our monthly vehicle note would be less than what we are paying now on everything all together, and I’m thinking we would still have some left over we could use to invest or put back down on the vehicle note.

I currently have a mortgage on my personal property at 3.4% interest with around 100k in equity. I have around 30k saved at the moment and I am looking for a single family home to turn into my first rental. My question is should I keep the cash in my savings account until I get a deal under contract or should I put that 30k towards my home loan and when I need it pull it out via heloc?

Hello all, I recently filed for a new LLC in Michigan to hold investment properties under, and I'm currently in the process of looking for a bank to open a business checking account with. Essentially, I want all cash flow/expenses to be flowing in and out of a business account rather than my personal bank accounts. A little background information in case it's important: there are 3 partners holding equal ownership in the LLC, only one of us lives in MI.