All Forum Posts by: Adam Craig

I am a life long East sider in Willoughby and much prefer our side :)

Many of my friends who work in Cleveland went to the west side, mostly Lakewood. I can see its appeal but I much prefer my neck of the woods. Willoughby, Mentor, Mayfield Heights, Solon, Highland Heights all excellent east side suburbs. 

Traffic in and around Lakewood is a nightmare. You have alot of not so nice areas sprinkled around nicer areas which you dont see as much in the nicer east side suburbs.

But hey, people like what they are used to so I am biased.

Any granite/natural stone budget recommendation around Cleveland?

Doing a flip in Highland Heights for around $180. Kitchen size is medium.

I am using the purchase with hard money, rehab, rent, then refinance with commercial lender plan.

My hard money lender charges 5 points on the first deal, 4 points on the second, 3 points on the third ect... Now that we have done some deals, I am not only getting charged 1 point + 12 % interest over a 3-4 month period.

When I refinance - my commercial lender charges 1% on the loan along with around $600 in appraisal and doc fees.

These bank fees + hard money add up and might be worth shopping.

Are these pretty good rates from the lender and bank or can I do better?

We are doing a new kitchen and I never know if its worth the time and cost to remove soffits and install 36" cabinets instead of 30".

I always thought 36" was too high for most people to use the top space but my installer said it looks like more of an upgraded kitchen.

Any thoughts? It would run me around $500 for in parts/labor.

A bit confused by the home depot commercial account VS revolving account

Many times my contactors call for big orders from Home Depot or Lowes so I can pay with credit card over the phone.

Is there a way to get an account with HD or Lowes so they can put supplies on it? Not sure if this would be a PRO account of credit account

My wife is going to be getting her real estate license for the obvious benefits - we can get access to houses instantly, make offers instantly, MLS access, save on commissions ect...

Will she have trouble finding a broker to sponsor her if shes only going to be doing 15-20 deals a year with me? She wont be making a career out of real estate and is not looking to go into any office. Are there brokers out there that would work with this scenario?

Not saying I am going to do that but wanting to see peoples experience with HUD availability. I dont remember them always adding time when the period is nearing its end.

I purchased a few HUD homes in 2014 but lately so many great deals have been coming onto the market but the exclusive period keeps getting extended then eventually an offer gets accepted before its open to investors.

Are you guys getting HUD homes still?

Any way around the exclusion period? IE - saying I am going to live in the home?

The seller is the bank.

The list price was 55K - I originally offered 56K. The seller responded saying he would not respond to offers for the first 7 days. On the 8th day he responded saying he has multiples and is calling for best and final.

Then I ran numbers and offer 61K. Obviously if I get it ill always be wondering it I could have got it for 56K - but I am trying to disassociate my thinking with the list price and just offer what I can make good money at.