All Forum Posts by: Charlie DiLisio

I am putting one of my flips on the market this coming week and wonder if there are any templates for flyers so I can put them in my info box on the property. I will be using a flat fee MLS and selling also FSBO. Looking for ideas to implement. Ty for any tips in advance.

Warren Kirshbaum for real estate attorney and also has a title company in town.  He is also a member of bigger pockets and I have personal experience with him and his firm.  

I was referring to you Warren.  And another caveat is when you go for the flip use the same title company which will have all the details and make the sale go smoother.  trusted relationships are crucial in this business.  I would not hesitate to do it again as long as the numbers work out,  GGood luck with your venture.

I relayed all the items to my title company and I paid to have it done there.  I have heard many stories of deals getting pulled and when your earnest money is held by them its a struggle to get it back without a big hassle.  My attorney is affiliated with the title company so it keeps everything in my control not theirs.  Lots of incompetence on their end.  My title search found out about the 24k in fines on the property and if they refused to pay it they would have an action against them.  They have to give you clear title unless its clearly stated.  They didn't even know about the city fines until the last week before closing.  I wouldn't do it without expert experienced people on my side.

By the way mine had about 24 k in building violation fines on it and HUBZU paid for that and it didn't add to my purchase price.  

I'm finishing up one now and it was a pain to get it.  I won the auction and they came back and said it didn't meet their minimum so they asked for a best and final bid which I bumped it up 5 k and it was approved.  You have to deal with the call center in India and they threatened to cancel all the time if you don't get them the docs quickly.  You can get a title search pretty fast on it and my title company has dealt with them before.  A word of advice is to choose your own title company and they will hold your earnest money in the event the deal is cancelled.  They take your final winning bid and add on their fee which in my case was 7k but I still got a sweet deal.  It is a hassle but it worked for me.  I'm going to market it in about 2 weeks and expect to get a nice return on it.  Good luck and best to you.  I'm in Palm Beach County by the way.  

Hi Alton, I have been in the construction business all of my life so I manage my own flips.  Currently I work a J.O.B. on Saturday and Sunday for 12 hours a day and I am off all week to take care of the flips.  I have used the same subs for about 20 years so I think its very important to be involved as often as you can so you can correct things before they get out of hand.  Experience is invaluable and currently the market here in Florida is booming so finding people is difficult and the prices are up there because of the demand.  I also specialize in bathroom and kitchen remodels and participate in the re-hab.  I think without experience I would partner up with a contractor who brings more to the table than just his skills.  Skin in the game is a great motivator.  I wish you well and hope this helps a bit.  

Thanks J, I was wondering the same thing and you explained it in easy to understand terms.  The investing of profits makes the most sense to me whatever the situation is.  I think most people make money and spend most of it rather than putting it back where it works for you on a continual basis.  Its a business not a vacation.  All the best!

I have done many glass block windows which are insulated, come in many designs and colors and let the light in and adds to the value.  Many sizes but most are 8x8x4 or 16x16 x.  check it out at Owen's Corning site.  I personally would not close it in and lose the light.  good luck.

Do you belong to a credit union or have a 401k plan you can borrow from?  Its not very much money and if you put the deed up as collateral I can't believe you can't get 20 k to finish it up quickly and move in or see what the market does for you.  If you tap a loan from your 401k it will be low interest, won't show up on your credit report and be low payments as well.  Sorry you are going thru this but I think many lenders will put up the cash and use the deed for collateral. The credit union is a good bet as well since you are a member and should be able to help you out.   Good luck!