All Forum Posts by: Janel Kolbo

Hey Brian, we are under contract for a fix/flip and looking for purchase loan. We have a substantial cash reserve account that we'd like to use for rehab if possible. Credit is over 800. Please email me at [email protected] with more information. Thanks!

0 Votes

Quote from @Wes Brody:

I closed on my CMG All In One about 2 months ago and I have a much better review than Cj.

I would give the loan a glowing review right now.

--I had 6 mortgages and I paid off 2 with the All In One.

--I transferred all of my rainy day cash to the loan to get the balance down.

--I'm transferring the debt from my remaining highest interest mortgage, 4.99%, but I can't pay it all off with the remaining credit line, so I will take monthly chucks.

--I closed all my tax and insurance escrow accounts, because the money is better off lowering my daily balance and interest and will pay those just in time.

--I changed my remaining mortgages from biweekly to monthly payments because that lowers overall interest.

My loan is serviced by Northpointe and there was a solid 2 week wait to get access to the account after closing. The letter they sent me said it would take 45 to 60 days to get access, which would have been horrible.

As soon as I got access to the account I had a lot of home work to switch over all my accounts from my last bank. Transfers, direct deposits, auto pay, bill pay, personal checks all works with no issues so far. The app works at depositing checks.

I dont plan on using the debit card much because I use my credit card as much as possible for the points and the delayed payment saves me interest. I have not tried to use the debit card at a ATM for cash withdraws, but I bet there will be fees, so I probably will just us my old ATMs.

I have noticed that their website is a little clunkier than Bank of America. For example, one late night I could not log in -- perhaps system maintenance and it worked in the morning. When I first used money transfer there were some bugs. I tried again and I have been using money transfer all the time.

As recommended I still have my old Bank of America account open with some cash as a backup.

Hey Wes, now that you have had this for a while, would you still recommend it?

6 Votes

Quote from @Johnny Tran:

Quote from @Leonard Qendro:

Hi everybody,

I moved here last year from New York. I purchased two buy-and-hold single-family homes last year and so far have had a great experience with real estate in St. Pete. I'm looking to expand and will soon be starting my own company.

I'd love to meet any investors and other professionals in the area. Feel free to respond to this thread or send me a private message so we can link up.

Thanks!

Leo

I would be interested in getting together. There are a few local meet ups regularly throughout Pinellas. Great place to meet some of the local investors. Shoot me a message

Hey there! We are closing in a couple weeks on a SFH in Pinellas. We moved into our other property in Riverview recently from Washington. Loving Florida so far! Would love to meet up if you guys plan something...

0 Votes

Saint Petersburg, Florida

I was just introduced to a lender at Sierra Pacific (also nationwide) as we're looking to BRRRR in the Anderson area and he said it's not a problem, but there are more fees the lower the mortgage. What area of IN is this duplex?

0 Votes

All Forum Posts by: Janel Kolbo

Janel Kolbo has started 1 posts and replied 34 times.

Post: Long-term landlord loans, short-term purchase-rehab loans

Post: Has anyone used the “All in one loan” with CMG Financial?

Post: Beginner investor in St. Petersburg, FL - Anyone want to meet up?

Post: financing investment prop in IN for less than 100K