All Forum Posts by: Jerry Morello

trying to close on a deal and find out that there is an old mortgage that was never discharged and the bank that held the mortgage is no longer in business. The seller and her broker are clueless. Any advice?

Hi Megan, it sounds like you need a ne appraisal as whoever that was that did your first one was talking out of school he should have nothing to do with your banks underwriters as his job is strictly to determine value!

That being said there is a new law in NH that talks about the fact that no municipality can restrict you from creating an accessory unit in a home! It seems like that isn't necessarily your issue but figured I'd mention it. Has your bank actually told you it's now 15% or are you being proactive? Since you know you can't go FHA right now was the appraiser confused about what type of loan he was appraising for? Either way I think with a few phone calls you can get this done @ 5%. Good Luck!

Have $56k in cards as of now. Took about 4 weeks.was told I'd get $70k but don't think that's going to happen! Beware that some of the cards you'll get can't be turned into cash without crazy cash advance fees and the ones that you can convert are thru balance transfer checks that typically cost 3% to convert.

So as of now my thoughts are that yes it can get you cash but just be aware that the total amount of credit you get will not be the amount you can truly use and the fee for this was $8,995.00 which they grabbed as soon as we had the 50k guarantee! So between their fee and the conversion cost your down instantly $10k. Plus your minimum payments start immediately on any of the lines that you use.

Not going to call this a ripoff because I went in with eyes wide open and if you need the funds for a deal you just chalk it up to the cost of doing business. But I would strongly advise anyone that uses this program to be aware of all these costs beforehand!

so far have 24k in commitments still waiting for more

Name of the company is funds 4 flipping or go to seed capital the f4 f was a marketing deal for face book but ultimately you'll end up with seed capital! Be interested in your Feds back I'm in the funding stage but still wary!

I've had great results with Lumber Liquidators for flooring needs! They've got quite a few stores in NJ and they have it all. Laminate the new rubber laminate, awesome stuff , regular hardwood. They also work with a network of private installers. I found their prices to be very competitive and the installers to be well vetted! Look them up and compare I think it might work for you!

That shouldn't be a problem as long as you have a solid understanding of what your money and his time are worth! Really as long as it's spelled out in the contract and scope of work doc there should be.no problem

Sorry Trexie , dam auto correct,lol

Hi Trevor thanks for the greeting! Within a day of joining I had a member offer investor funding. At first very excited as I have a pending project in need of financing! We've exchanged emails about terms and conditions and the application form he sent me was very questionable! I guess what I'm asking is what's your advice on vetting these people! I tried finding him in BP. Only to find he had been a member for only a couple of days and his contact info was hidden. Is concealing your contact info common or is it usually a red flag? Thanks again for the support!

Everything's negotiable! Depending on how hands off you want to be will determine costs of PM. If you want as little stress as possible let them handle everything advertising, screening ,rental showing and agreements, cleanup after short term rentals and maintenance before during and after the rental periods! Typically these services can all be negotiated and remember you usually get what you pay for! Sometimes better to pay more to get more! If you're looking in a particular resort area do your diligence and find out who does the best job in the area