All Forum Posts by: Mike Romano

@Kevin Koone new venture

Looking for recommendations on short-term rental insurance in Deltona, FL. Any suggestions or companies you’ve had good experiences with?

Will any HML be able to do this?

I'm helping a friend with this. He already has an LLC set up and operating for a year, will cover the repair costs, can put 15% down, and plans to live in the property. The house is under contract for $150,000.

Does anyone know of a private lender who could fund this deal?

Hey everyone, quick question—does anyone know if a company owner with an I-220A Status can get a hard money loan to buy a property? Wondering if lenders will look at the deal itself (equity, ARV, etc.) or if the immigration status could be a roadblock.

Appreciate any insights!

Has anyone dealt with a wholesaler refusing to sign the cancellation? The seller backed out of the deal and didn’t show up at closing, but now the wholesaler won’t sign off on canceling the contract.

Has anyone experienced something similar? How did you handle it?

I just backed out of a deal after realizing the house was in a Zone A flood zone. I lost $5K in EMD.

@Kevin Sobilo Thanks, this is a simple and straightforward assignment contract.

Hey everyone, I'm looking for some insight. I have an assignment deal that I'm considering backing out of before closing.( I'm the end buyer) The title company already has my $5K EMD. I just found out the property is in a Zone A flood area, which means lower property values and a longer selling timeline.

At this point, I’d rather take the $5K loss than deal with the potential headaches. Has anyone been in a similar situation? How did you handle it? Appreciate any advice!

Thank you!  @Obed Calixte