All Forum Posts by: Charlie DiLisio

Try a credit union. Sounds like you are dealing with a major bank with strict guidelines. You should have no problem with 25% down if the property valuation is right. I use hard money (20%) down, heloc funds, partners with skin in the game and always looking for private money. Check at your local REIA also for referrals to lenders. My current flip was with a private lender for 10% and 20% down payment. I fund my re-hab expenses myself and lenders will check out your experience and quality of work. Good luck, you are heading in the right direction but always check with multiple lenders. It pays to see what the competition is offering.

Did not see your A/C power listed but 200 amp is the way to go.  at least R-30 insulation and obviously separate units if it is a multi-family.  Good luck.

If you are using a lender for the purchase they will require you to get a vacant house insurance policy and they will usually issue one very reasonably for short term rates until the re-hab is complete and then get a policy depending if you are flipping or buy and hold.  Hope that helps.  I use hard money at times and they have referrals that cover you for what your needs are.  Most lenders have different qualifications that need to be met before closing on the deal.  Good luck!

I have two properties on the market in Lake Worth. 1309 Lucerne Avenue is a 2/2 and very close to the downtown area and art district. It is going for $189 k. The other property is a 3/2 and 5 blocks from the avenue. Rentals are good in these areas depending if you are doing seasonal or permanent yearly. Since I do re-habs they are both turnkey properties and can be seen anytime you like. I live about 1/2 mile from each of them. I list with snapflatfee.com so I can market them thru the MLS and sell by owner. They can be pulled up on mls, zillow, realtor.com and many other sites to view all the photo's. Let me know what you look for and I will know better of what you do. There is a triplex across the street from where I live but it needs lots of work and will probably go for much less than the asking price of $185 k if that interests you. Check out Lake Worth, it is coming up with lots of new businesses and being so close to the beach has lots of people coming here to vacation and also to live. Cheers, Charlie

I would make a visit to the building department and request the drawings on the project.  They won't give them to you but they will let you photograph them.  It will give you the architects name and all the details of what was permitted.  You can get the name of the builder from the Architect and speak with him as well as to pricing to finish the project.  Many things to consider but I'm sure the plans were submitted and inspections made to dry the house in already.  They can also tell you what needs to be done depending on the time it has been sitting empty.  good luck!

Spacious 3 bedroom updated CBS home with open floor plan, crown molding, new kitchen and bathrooms. Whirlpool bath, spacious closets in all bedrooms. Newly painted inside and out with lush landscaping on automated sprinkler system. Ample parking and outdoor covered patio area, laundry and storage building. Plenty of room for pool or outdoor recreation. All new stainless steel appliances with full warranty's. Great location close to the beach and walking distance to Lake Worth attractions and cultural activities.

I see several problems with your scenario.  If it was originally built in 1910 you most likely have a foundation problem.  The only way to tell is if you have a crawl space you can go under the house and check the structure which I am guessing is timbers or stones.  If that is ok and not sinking I'm assuming the plumbing is under the floor as well which could be leaking and you may need new piping.  As far as the addition goes, what year was that put in?  If its concrete it could simply have been a screened in room and would have a slope to it naturally and someone may have just closed it in without leveling the floor.  As for weak flooring that would have to be removed to see the condition of the floor joists which could have termite damage, rotting wood or something else going on.  It will be labor intensive and no way to tell until you physically see it.   For a first venture I would pass on the property unless it is a super price and you have some expert contractors who specialize in older houses.  It's a whole different animal.  One last thought to consider is if it is in a historic zone they can be very challenging to satisfy since they will want to keep the original themes of the era.  I wish you well and if you take on the challenge it will be time consuming.  All the best!

Warren Kirschbaum  wwiwith Title Trust would be my choice.  hhehe is also an investor and with us on bigger pockets.   I have used him myself and

If you google rip off report and other articles in here about her course I think you may be getting scammed.  I read some of the reviews and they are not good.  If you are still in your 30 day refund period just try to cancel and see what happens.  I wish you well but Bigger Pockets gives you everything you need to succeed in this business.  They will try to upsell you into all kinds of products and all of it is on this site with people you can ask personal questions to.  You will never get her on a phone or any response at all in my opinion.  Good luck and please let us know how it works out.  Just my .02 cents worth.  We are all sharing on this site, not selling.  Just a thought.

How do u plan to refinish the hardwood floors?  sanding and re-varnish or clean a b day polish?