All Forum Posts by: Ari Steinman

 Thank you @John Karg! How many times did you do jobs with someone you got from Thumbtack? What size jobs were they?

Hi,

I have a SFH under contract that I want to do a fix and flip on. Its in the Englewood area but I'm active in Charlotte County area.

I've been looking online for contractors in the area, but all the good ones I find online are catering to homeowners. I believe an investor needs an investor friendly contractor, because our needs are very different than homeowners ( Speed, understanding where to spend and where not, knowing which finishes you need in each market for the best ROI)

Can you recommend a investor friendly handyman/contractor? ( This deal is a basic renovation- kitchen, bathrooms, paint, floors) not a full gut rehab.   

Thank you!

Hi SW FL people!

I have a fix and flip under contract in Englewood area- its not a gut job, it mostly needs updates.

Can you recommended and contractors in that area that you have used?

Thanks

Hi All, 

@Constancia R. @Alex Bekeza @Chad Davis

I noticed this thread when I was looking into Pimlico Capital.

I have not closed any loans with them just yet, but I am actually in middle of dealing with them now and they are very clear and helpful. They helped me out with a LTR loan ( I ended up going with a different lender who offered me something a drop of better rate, and now Im in middle of discussing with them their Fix n Flip loans. 

I see on google they have 99 reviews and all 99 are 5 stars- I know we cant base due diligence on that but if there are absolute no reviews lees then 5 stars, I think that says something about them

Thank you @Ray Hage - that was very clear cut and @Vicki X.

I received a 'sales verification questionnaire" (with like 30 questions on it. It felt like a test :-)  ) from the local county property appraiser here in FL- are there any pros or cons for me to fill this out.

Quote from @Jay Hurst:

Quote from @Ari Steinman:

Quote from @Jay Hurst:

Quote from @Ryan Randall:

Just actually went through this worksheet @Jay Hurst

This should really be posted on all of those "How do I qualify if I already have xx properties", or "Does rental income hurt my DTI?" related posts. It really gave me the transparency I wished I had in the lending process a few months back. Very straight-forward to follow!

I talk to people all the time who just assume or have been told they cannot qualify for conventional financing that can. I love DSCR for people who need it, but the megaphone of folks who only know how to or only can sell DSCR is overwhelmingly loud right now and it is a shame. Add the fiction that some how if the DSCR does not show up on a credit report it does not exist has created a LOT of just really bad advice.

@Jay Hurst What do you say about getting conventional financing when looking to purchase the home with an LLC- how do you deal with that?

 @Ari Steinman You have to close a conventonal loan (when I say conventonal here I mean a Fannie loan) in your persoanl name. But, Fannie will also allow the name to be transfered to an LLC without issue:

https://servicing-guide.fannie...

 Thanks @Jay Hurst . The question is, can I buy it under my and my cash partners name-two people ( because he really owns a majority interest) take a conventional loan and then transfer it into an LLC that we are partners in?

@Jay Hurst What do you say about getting conventional financing when looking to purchase the home with an LLC- how do you deal with that?

thanks @Kimberly Elson I appreciate that info.if anyone has any scenarios when it's worth it to contest the taxes on a SFH please let us know.
Another question- I own a duplex which used to be two condos but the previous owner converted it to a duplex with one address. However it still has two separate tax bills- do you think the taxes will be lowered if I convert them to be taxed as one tax bill? 

Thanks @Kevin Bartlett I appreciate that! I will reach out.

Thanks @David Ramirez for the contact!