All Forum Posts by: Charlie DiLisio

Matt, can you post some before and afters?  Looks great, congratulations.

I generally use FSBO sites as well as driving for dollars. MLS is good also but too many retail buyers to compete with. That's why I prefer to re-hab and flip. Eliminates all the retail buyers who can't get financing for them unless they use FHA 203k loans and have some measure of experience in construction. I always use flat fee MLS service to sell however. A matter of time and money. I enjoy the hunt and the re-hab. With HUBZU I use my own title company because of the problems with them holding your earnest money and using it against you. Happy hunting.

I have a property that I purchased on Hubzu.  It is a difficult procedure and they have multiple auctions.  You may win the bidding but if it is not high enough they re-do it.  They also have many fees added on to the purchase price which you have to pay for if you do the deal.  The people who you deal with are mostly from India and very hard to understand.  I got the property after the second auction and they added on 10k to the price which is disclosed before you purchase.  It was a good deal but I would stay away if I have to do it again.  Took a good two months to get control of the property and it also had many building department liens on it as well which they paid for in order to give you clean title.  Lots easier to find fast closing properties IMHO!  Good luck and they are legit.

Cheryl, what kind of points do you charge and monthly (interest only) interest do you charge. Also what is the ARV you are looking for on the deal? Thanks, Charlie (south Florida)

Seems like you are taking all the risk.  Any partner that I use has to have skin in the game or its not a good idea.  I'm not sure how Canada is but how does the building industry work as far as permits and inspections.  If he is not licensed you may be shut down in the middle of your project.  Just some things to consider before you finance the project and find yourself alone explaining things that you are not aware of.  I would be very wary of your friend even with the best of intentions the risk is yours alone.  Good luck!

Looks great Jarrod, if these were in south Florida I would take them off your hands.  Great deal for someone.  good luck my friend.

Hard money lenders if the ARV is right or a private investor. I use credit cards and a heloc on my own home. Good luck with the deal!

Assuming that the riser is 3/4 inch too high can't you raise the tread 3/4 inch and thereby rectify the disparity?  This can also be rectified by laying tile or 1/2 inch brick pavers on the tread.  Not sure what the railing is made of but by raising the tread 3/4 inch that would make the side rails 1.75 inch low and perhaps you could raise the top rail that much.  Hard to tell without seeing the construction.  On another note, it sounds like the inspector is overstepping his bounds here.  Could you not appeal to his manager.  I suspect that this particular inspector has caused problems before and you have nothing to lose by making a phone call about your situation. Sorry you are going thru this and I would bet that any neighborhood would have multiple violations he is suggesting.  Down here when you are inspected and violated it must be in writing and they cannot come back and keep adding on to their list.  I wish you the best.  

I agree with Aaron and a good team has to coordinate together for bathrooms because of the small space involved.  On my projects for instance I schedule the demo in the morning and then the plumber has to be there at 1:00 p.m. to either install the tub, shower pan and valve which normally takes about 2-3 hours.  After that the board can be installed and tile begun.  My demo people always remove all debris and are available to assist the plumber as well.  All my plumber does is do his install and leaves.  We take care of all cleanup and its ready for the board.  In addition we also install the trim for the plumber as well so he does not have to return.  When a jacuzzi tub is involved my electrician has to be there before the plumber to install the GFI circuit.  Installing the board should be as seamless as possible and by coordination of the trades there is no reason to leave holes to be done later which takes time and create mistakes.  Just a thought.  

I would be very wary of buying an auction property for my first investment unless you have experience with other properties. The due diligence is critical since it is on you and not the bank. You should get a clear title for sure and especially check with the building department where the property is located for property liens and also if there are any HOA fees. Also you didn't mention the age of the property and that makes a huge difference with repairs. The old buildings have know and tube wiring which is a nightmare to repair and replace if you need and work done on them. It does not meet most building codes and you may have to replace all of it as well as the old cast iron plumbing you may encounter. Most things can be covered up easily so I would be very careful buying someone else's problems. Just a thought to consider. Good luck either way.