All Forum Posts by: Jamal Pitts

Hi Alex,

Banks will not allow you to use borrowed money as down payment to purchase Real Estate. You would need to deposit the money from your HELOC and let it sit in your bank account for 60+ days. Luckily you have a low rate. I look at it as the cost of doing business.

I recommend doing all of the above.

I estimate 15% closing cost on all my flips; 6% commission, 6% seller assist, 2% transfer tax, and 1% miscellaneous stuff.  I'm located in Philly so there is a 4% transfer tax.  Buyer pays 2% and seller pays 2%

Hi @Ken B. I'm a full time Realtor that work with primary rehab and buyer and hold investors in Philly and I also rehab myself.  Feel free to reach out to me if I can be of any assistants.

@Takeya Hill  How did you make out finding probate properties?

Welcome to BP feel free to inbox me if I can be of any assistance.  

I also rehab in Philly

@Mirissia Eggerton  welcome to bp,  I do a lot of business in the philly area.  If I can be of any help inbox me.  I was in the banking world myself for about 5 years.  I hated sitting behind a desk all day.  I love my freedom now!!!

I invest in the point breeze area, I would be interested in buyer or partnering with you if its a good deal.  Inbox me if you are interested.

Hi Troy,

I will try to make the open house this weekend. I have a Real Estate Investment meeting on Saturday in King of Prussia. I will try to swing pass afterwards. I checked out the property on the MLS and it looks Great!!! I love the exposed brick. Good Job!!!