All Forum Posts by: Charlie DiLisio

Just a thought Joe.  You don't see where you are coming from so beware of rough areas.  It is a hot market here and difficult to find good cash flowing properties for a good price.  On the plus side you are on the right track for starting out and you should be within 10 to 15 miles from where you work.  This area is getting pretty congested.  I assume you are going to work in West Palm Beach so a 5 to 7.5 mile radius would be your target area.  Welcome to Florida and see you in the forums.

Thanks for the review Kay.  I am in my first round and so far so good.  Waiting for the negotiations to be completed.  Have you started the on removing credit inquiries yet.  I was told to wait until negotiations are finished to start.  I have John Madison working on my apps and he seems very professional.  Have a great week.

20% works for me Brian. Helps get the deal funded, no PMI and gives a cushion as well as the forced appreciation with the re-hab. I try to use the equity as leverage also for Heloc or other lines of credit.

I don't look for the least expensive title costs as much as a trust relationship and input from the company.  It's too important to get this right and I am always in touch to assist and help if I can for my own project.  Its most important to me when I call to be able to get the advice in real time.  

hmmm not buying your narrative Richard.  A wholesaler making 50k on every deal and you are doing 2 a month for the last two years.  Sellers market here in south Florida not good for buyers in my opinion.  Good luck to everyone.

HML usually want you to have skin in the game as in down here they may want 20% plus 2 to 3 points so that will cost you 64k down payment plus 5200 for 2 points and then they will want at least 10% for doing the deal per month 2166.66 per month and then of course you have the rehab (another possible 30k+-) and finally the closing cost. May be a good deal or may not. Check your numbers good and you can be looking at 3-5 months to rehab and sell at the 2666.66 per month. If you have the cash for the down payment and rehab the numbers will work out ok. As for the flip by wholesaling you can just put it under contract and flip the contract for 10 or 20k but you have to be prepared to do the deal if you can't sell it. Lots of moving pieces here but to flip the contract you won't need the HML if you get someone to assign the contract. I think I would try to lease/option the property, rehab and market it to a retail buyer. Good luck.

I agree Adam.  If the interest rate doubles the payment rises around 60% higher which is a big factor in qualifying.  I would think that would knock out a substantial pool of buyers IMO!  Guess we will have to watch and see what is going to happen and roll the dice.  

I stand corrected about Independence Title, the one I used with Brad Emmer was Independent title in Ft. Lauderdale.  Just to clarify.

I use Title trust in West Palm Beach and have been very pleased with them. Warren Kirschbaum is the attorney and is also on bigger pockets and is an investor himself. I highly recommend them. I have also used Independence title for a flip thru the HML Brad Emmer who uses them as well. Warren is my go to guy for advice and creative financing ideas.

I do mostly flips myself and Palm Beach County prices have gone up considerably which makes it hard to find good deals to flip.  I think lots of people are trying to cash in on their property.  Interest rates are helping to sell because of the lower payments but if they start going up less people will be able to qualify.  Have considered investing out of state but just my two cents.