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All Forum Posts by: James McGovern

James McGovern has started 362 posts and replied 1306 times.

Post: Which builders are most hostile towards home inspectors

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

Some builders seem hostile towards having home inspectors perform thorough home inspections. Would love to know which builders other than Lennar are welcoming of complete inspections?

Post: Why private money beats hard money all day, every day

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

I have had negative experiences with Conventus and there underwriting process that did not occur when using private money 

when it comes to banking, I have been known to take advantage of account opening bonuses and gave frequently switched instructions. For lenders who want two years of bank statements has resulted in a fail where private money only cares that you can close but not sources of money

Post: Borrowing against 401k

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

When I moved my 401k to LPL, I was given access to Goldman Sachs's loans which are at prime rate and secured against the portfolio 

Post: Why a Newly Built Home Might Be the Move Right Now

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

When will builders cut prices and not play the incentives game. Getting lower property taxes is vital going forward 

Post: Objectively comparing YouTube real estate agents

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

@Ken M. Fiscal discipline is something that is not optional for me. Important to note that our local REIA is overpopulated with noobs and there are no lenders or experienced real estate agents participating. Hence why I ask questions on bigger pockets

Post: Building relationships with lenders

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

@Erik Estrada I acquire property via foreclosure auctions where it is impossible to work with many lenders who want inspections prior to closing and therefore financing is part of the formula of success 

Post: Building relationships with lenders

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

@Jennie Berger a lender can always do better 

Post: How come listing agents struggle to explain their value

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

I recently reached out to five different listing agents to list two different properties I want to sell. I mentioned to them that my past experience in selling was via Redfin where the listing fee was 1.5% and asked them to quantify in dollars and cents what is the additional value if they commission is higher. Many made up fake news answers stating that I might not have a good selling experience or have problems at closing. Of course my own personal experiences suggest otherwise 

why can't agents explain their value better?

Post: Can't find insurance for 6-plex (Colorado)

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

Sounds like you need to find a stronger insurance agent as well

Post: How does one put a lien on a past tenant?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,379
  • Votes 336

Try landlordcollections.net I don't know their capabilities in your state