All Forum Posts by: Charlie DiLisio

Looking for lower closing cost for property in Michigan.  Origination charges are at $2848.00 on an 89,900 purchase price.  Checking for other options.  Any suggestions.  Investment property 15% down payment or less.  

Thanks for the replies. Property will be in Redford, MI. Financed probably with FHA 1st time homeowner and Seller providing closing costs is the plan. I'm in South Florida and this is for my fiance who will be living in the property and taking care of her brother who is currently in a group home in Detroit. The goal is to get in the property for 5% out of pocket. I see lots of deals there so I need some solid contacts to speak with about the deal. I am in south Florida flipping and need some team members in Michigan who know the program. Appreciate any feedback I can get.

Need ballpark for Michigan closing costs?  

In the process of closing on a property in my company name and a partner.  He wants to live in the property and I am looking for a way for him to be an owner occupant and get the homestead exemption.  Thoughts? 

Quinton, what is the deal on it.?   How can it be viewed and can you give any more details on property.  I live in Lake Worth and the prices are all over the place.  Age, construction, viewing options?  Thanks for any info you can put out.  

Thanks for reaching out Mitchell.  I would have liked to attend the monthly meetups but I only work on Saturday and Sunday for 12 hour days.  Off all week..  lol .. How do you think the hurricane will affect the market in S.C.?  Wishing you the best and hanging in here for now.  Looking into Pt. St. Lucie to move my operation up there.  

I hear you Mike.  Prices are high because it is a sellers market in my opinion.  Great if you have inventory to sell but not so good if you are looking for deals.  Certainly not good for cash flow on rentals unless you have them to rent.  I see negative cash flow if you are buying but hopefully they will improve over time.  It feels a bit like 2005 to me with the inflated prices and people are trying to cash in.  I am looking a bit north from Lake Worth as it seems you get more for you money there.  Hope to be re-locating there and will sell my residence here or rent it for the cash flow.  My advice is to adapt and overcome meaning go where the money is and ride it out.  Not sure what the political climate will bring about but it looks a bit Leary.  Best of luck and what ever you do don't give up.  At the moment I think my best target is property that needs work and force the equity into my bank account.  Just my two cents.  

I'm working the fund and grow process at the moment.  Received the first go round with 24,000 and now working on removing the inquiries for the second round.  The 3500.00 is a one time fee for the year which is way better than some of the other companies who take a percentage of what they get you.  Hopeful for the second round soon and will let you know how it goes.  Cash is king and I'm happy to have this forum to get informed.  Clay Morris is not partners with fund and grow but does recommend them to access the funds.  Morris is in trouble as I see the reports coming in on them.  

I have seen the properties coming in high and then being forced into dropping their prices.  Hope it continues to bring about better deals Jim.  I have been looking into the port st. lucie market for bigger properties and better deals although I don't like the idea of traveling that far for the re-hab.  You have to go where the money is.  Have a great day.

Agreed, the initial inspection they can write you up for multiple things, after that you are ok.  Let us know how you make out.