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All Forum Posts by: Charlie DiLisio

Charlie DiLisio has started 24 posts and replied 362 times.

Post: BRRRR with a HELOC advice ...best way to set up repayment plan?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

I pay both as well.  Every payment frees up more cash to invest.  

Post: BRRRR with a HELOC advice ...best way to set up repayment plan?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Jonny, same concept with me. I use my heloc for flipping and then pay back the HELOC in full. I got mine from NFCU two years ago and use it for my rehab and it works very well for me. Works for materials and also for labor cost. I believe mine is aroung 5% and there was no cost except for an appraisal which is waived if they have the information online which at the time mine wasn't. It did take a while to process it around 6 weeks I believe. Navy Fed is a bit slow with their processing but I love them for most of my banking including my business checking.

Post: Losing faith in real estate - eviction, repairs, PM disaster

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Sounds like you have lost control of the property. Your property manager is taking advantage of you because you are out of town. I would go personally to the property and assess it yourself. Check with the local REIA and get some input from the locals. Why so many evictions? Are the renters vetted? Sounds like the property manager is skimming as well. I wish you the best but take charge and be serious or you will lose it all. You got this.

Post: Starting out in the real estate!

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Forget the banks.  Investors will get all the money you need with a good deal.  Be prepared to split the property in their favor and you are good to go.  In the meantime, focus on putting money aside every week and build up your personal credit.  Unless you can tap into family and friends you will have to put skin in the game and the more the better.  Good luck.

Post: Counter top choices - What do your buyers prefer?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Granite is my choice but I don't think you can go wrong with either.  Both are high end and very impressive.  I don't think the maintenance factors in at all, it is minor.  Good luck!

Post: Flip with Seller Holding the Note - What do I do?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Not sure why you would even consider it.  You are being sold a bill of goods by this investor.  I would keep looking for a better deal because this is not one!  Happy New Year and keep searching.  

Post: Painting Cabinets White AGAIN?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Stick with the white.  It's neutral and appeals to most buyers.  

Post: Lowe's vs Menards vs Home Depot Discount Programs

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Don't forget the 10% discount also for Veterans at Home Depot and Lowe's. We don't have a Menards here in south Florida. I also get discounts for being a memeber of my National REIA. Pro rewards and the tracking with Home Depot is awesome.

Post: Do you leave a/c on in flips when it's vacant?

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Use it, its better for re-habbing and for the inside environment.  The cost is not that much.  

Post: Title change and seasoning rules

Charlie DiLisioPosted
  • Investor
  • Lake Worth, FL
  • Posts 378
  • Votes 184

Check out Augie Bilott's method on selling your property. The concept is pretty cool and he finances the deal to the new owner and continues to receive the cash flow without the problem of a tenant. Just a thought. FHA can be a pain in many ways.