All Forum Posts by: CHRIS MITCHELL

run

I think color needs to come down to lighting and space, the darker the cabinet in a smaller, not so well lit kitchen is going to make the kitchen appear smaller while white or light color cabinets will reflect more light and hopefully have the opposite effect. Just my 2 cents.

digonline.org is our local reia

check out rtacabinetstore.com

@Account Closed 

Welcome to BP! I was born in Bristol and now reside in Langhorne, this is a fantastic site with tremendoes resources. Whenever get get a chance listen to the podcasts and just read, it truly is amazing the amount of knowledge assembled here. I wholesale in Bucks County and the greater Philadelphia region, perhaps we can work together at some point.

@Priyanka Johri 

Thanks for reading my post, I've resolved the contractor issue, my issue now is with the hml broker and lender. I was initially told I could roll in the origination points and then I got told by the broker 2 days ago that I had to pay them at closing. Im not happy with my broker, I would like to talk to the lender directly as I would feel better that my questions are being asked and answered properly. The broker is only concerned about his 2 points.

Hey all,

New developments this morning, I got the contractor issue dealt with, a friend of friend who I contacted first but was tied up for 2 months with jobs, talked to him and he is wrapping up a job in a couple of weeks and should be available and is familiar with working the draws, no upfront money needed. All is well, but....

Then the broker contacted me with the final terms, 6% origination and 13.99% plus app fee and other junk for 12 months. The issue is he said before I could roll in the origination fee now he says I have to pay it at closing. I confronted him about this and he said that was another lender,. Well, how about telling me that? He said he did, he absolutely didn't! I feel like I got the bait and switch. I can't just make $7000 appear out of no where. Ugh.

@Shaun Reilly 

Thanks, I was actually kicking that idea around, I need to talk to the HML tomorrow and push for either some up front funds or for reimbursement of up front materials.

@Account Closed 

What equity would I get out of the $58k house now in its condition? 5-10K to a wholesaler? I'm doing this approach to make the most money I can in the shortest period of time. As for the ARV I was actually conservative, similar home one street over with one less bath that was rehabbed nicely sold for $191k back in April.

I'm not sure what this west coast/east coast issue and arv are all about? This property is located in the suburbs of Philadelphia.

@John Moore 

@Ryan Dossey 

Thanks guys, I explained to the contractor exactly what you guys are saying however he just looks at it like he's always going to be behind, even if it's just a few days. He just doesnt want to be behind the 8 ball at all, probably because he doesnt have some kind of reserve of funds or the credit to keep things going. I know there has to be contractors who will work under this system, I'm gonna just keep looking.