All Forum Posts by: Sean S.

Hey guys,

Does anyone have any experience with these in South East Pennsylvania? Any recommendations? 

Hi guys,

Does anyone have any recommendations for Real Estate Agents that are well-versed with house flipping and are investor friendly in the Chester County area?

realized I didn't post it in Pennsylvania's chat. I will repost. please disregard.

Hi guys, 

Does anyone have any recommendations for Real Estate Agents that are well-versed with house flipping and are investor friendly in the Chester County area? 

@Kevyn Miyata

If a contractor tells me they are licensed is it my job to verify? Or can I assume they have told me the truth?

Hello,

I have a friend that is a unlicensed contractor. I trust him, but is there anything I should not let him work on? I know the majority of people say to only higher licensed, but I feel that he would do a good job. What insurances would you recommend? I flip houses, not sure if that impacts anything.

Hi,

I have been going back and forth with a variety of banks and credit unions about possible loans. I want to operate out of my LLC and since I am brand new to property flipping it has been difficult. So far I have had the most success with lenders offering commercial loans. The best loan terms I have encountered is 80% LTV for the purchase, 100% rehab, 7% interest, 12 months interest only and then the balloon payment, they charge 1 point. Do you guys think these are reasonable loan terms or should I continue to search for different lenders?

I found one other lender that offers the same terms except they offer a 6.25% interest rate. The other lender seems significantly more versed in flipping so I am leaning towards that deal.

@David Lee Hall, III were you able to get the conventional financing under the LLC or transfer the title to the LLC? Or did you just take it out personally?

Hi everyone, 

I have recently created a LLC, but am struggling to find a loan provider. I am trying to use a conventional lender due to the low rates. The banks that I spoke with won't lend to LLCs. So then my plan was to personally get a Fannie Mae loan and then transfer the title to the LLC, but those same banks said it's not possible to get a conventional loan for investment properties. Any advice? I'm located in Pennsylvania, near philly.

sorry didn't mean to post this in this part of the blogs. I moved it to a more appropriate section.