All Forum Posts by: Anthony Brancato

I just watched a video of how this is NOT the time to flip houses.

A 2x4 is at $6

Osb plywood is at $22 from $8

Contractors are hard to find right now.

Elections coming up, we have no idea what’s going to go on with the economy.

I do agree with these points, but would they prevent you from buying and flipping right now?

Do you know what your credit score was for the first round and how much were they able to get for you? 

Since Covid, I've seen hard money lenders go from 90-95% LTV down to 65% and now at 80%.
Is there any word that they will soon go back to 90-95%?

@Peter Johnson

Hahaha

https://www.cnbc.com/2020/04/16/small-business-rescue-loan-program-hits-349-billion-limit-and-is-now-out-of-money.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard&fbclid=IwAR06w9mvVCRp0lzFdIMOai2rSSTShYj-f19AcaW_uApRdKaNtgU7-L5Y4UU

If you don't like cnbc, it's on every news source now. 

From SBA email on 4/14:

Dear Applicant,

On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.

I was supposed to be going into business with my brother. Unfortunately, he hasn't shown any initiative in the last 6 months to get his contractors license (red flag).
I'm from Chicago originally but I just moved back last year so my contact list has run pretty thin here. 
If you were new to an area how would you go about finding and interviewing for the best flipping contractor in the area? 
Would you use sites like Angies list or go off of reviews on google/yelp. Or is BP a good place to look and connect?

Thanks for your advice!

Finding a contractor to trust in Chicago

Looking for some really good design software for flipping houses. Hopefully something that doesn't require a design degree lol

Thanks!

Lessons learned: How long did you wait to pull permits after purchasing?