If you had $15,000 and a 700 credit score, what would you do?

First ...if your credit score is 700......I would.....and I mean MYSELF....because this is what I DID.
Open a line of credit or two and find credit unions and banks to go to and SIT DOWN to talk face to face and let them know you r SERIOUS about investing.
USE this $15000.......NOW.NOW. ....to put in this account........when u go to ANOTHER bankbor credit union to open ANOTHWR source of OPM....OTHER PEOPLES MONEY... they see the 15000 in your other account and you now have some established credibility.
The key is don't get rid of this yet until u USE IT to establish some accounts........u can MOVE IT ANYWHERE YOU WANT to show establishments that u have 15000 in an account.
You canbeven BORROW this to use for awhile until u get some means of GO TO $$$$ FOR YOUR REI investments.
Now you can go look for deals.........in my area....I would look for land contract or lease options on vacant homes and try to negotiate ...$1000 down deals with. Say 300 per Mnth payments with ballon pymnr total in say 5 yrs........then I would go to my buyers list and sandwich lease to them for $5000 down.....$600 a Mnth. And profit on the total end price too!!! ....AND MAKE INTEREST ON THE 600!!!!!

NOW I CAN DO THIS 15 TIMES because I have 15000........ACTUALLY I CAN DO THIS MANY more because I turned that $15000 .....into 5 deals at 5000 down every deal so you may or may not even NEED the line of credit for a while...........oh darn someone just called my business card I dropped all over and wants to use me as a pml for a double closing!!!!!! Ok let me write a checkbfrom my line of credit and collect a $1000 or two for a week..............YEAH.....BABY!!!!!!!!
Jay

Thanks Jay,

Great advice! Just a few things though, I'm not too familiar on how lines of credit work. From my understanding its money you can borrow from the bank at your discretion and only pay interest on what you borrow, right? But what does $15k have to do with it? It's currently sitting in a savings account and I'd rather be investing it.

Also, any advice on getting PML? All the HML we go to don't have money or are too shady.

You r using the 15k in your savings or checking accnt to show you have $$ .when they see this ....u. will no doubt be able to open up multiple accnts........as apposed to not having any $$ in an account.after opening the lines then take the 15k out of savings or checking to use for investment.

As for pml......you have to develop a business relationship and rapport with established investors .....start NOW.
JAY

Sorry so short on answers....just get a few minutes here and there to get on.
Yes the pml is just networking.I was able to be a pml for a few success students just by learning about them....doing a few deals with them and KNOWING I could trust them and also TAKING A RISK. After the initial risk then you build a good working relationship and u KNOW if they r worthy of the RISK.
Pml can be dg students here.....at your local rei club, family, friends,other investors.
You need to SHOW the pml that u KNOW what u r doing And or give callateral...or work for them in some capacity.....just my thoughts.

Can't wait to hear MORE on this!! ......good post dominic!!
jay

I HAVE NOTHING TO ADD, GREAT ADVISE !!

CURTIS FILLERS
(CHARLOTTE,NC)

Hold off on doing anything because $15K or most of it would be used up on whatever deal you do towards closing, down on contracts and/or downpayment.

Bide your time, and save another $10-$15k so that you'll have something left over for another property or cushion money