All Forum Posts by: Mark Benincase

I agree, be careful using the subcontractors that Lowes provides for the additional reason that Lowes gets a cut of every deal increasing the cost of a renovation.  Lowes quoted me $27k for a kitchen for which they would provide all the materials and contractors, I found my own contractor and had it done for $19k, materials and labor.

Reggie, Nice to hear from you. My email address is [email protected]. Please include your contact information. Maybe we can chat next week. Thanks Mark.

Looking for Funding for my Next Flip.  Here is my last project started in July finished in September.  Total invested $110k, Sold in less than 1 week for $175k.  Serious inquiries only.  I prefer someone with prior funding experience.  Looking for up to $300k.  Terms are negotiable.  Actively looking for next project. 

Thanks.

Yes you can get information over the phone or online but it may not be up to date or accurate. Also depending on the state you should be aware of the different kinds of liens that can be placed on properties. some states for example allow utility liens, like in Ohio and Michigan water liens are common. The utility company may not file it at the recorders office so it may not show up in an online search.  You would have to call the utility company directly and make an inquiry. A colleague of mine purchased a home that was foreclosed on in Ohio a few years back with a $12.000 water lien on it.  He didn't hire a title company and learned the hard way about water liens.  Title searches are not that expensive, and when you consider the overall investment it is probably worth the cost. 

It is a misdemeanor federal offense to knowingly claim more exemptions then you are entitled to on your W-4. Be careful increasing your exemptions as a way to save for a down payment then making arrangements with the IRS to pay back the taxes owed at year end.