All Forum Posts by: Charlie DiLisio

You have to use cork mastic to glue down the cork and tile directly over it with multi-purpose thinset.  You will not get any cracks in your grout lines and my preference is larger sized rectified tiles which can be installed with 1/16 inch grout lines.  Do not use regular thinset which is cheaper but it doesn't compare to the multi-purpose.  Have a great new year.

@Jeff Berg.  Just a thought that for the second floor I install porcelain tile over cork to deaden the sound and is required down here in Florida in most condo communities.  you can also use the cork under wood laminate as well for the floating floors.  It acts as a sound barrier and is easy to install after pulling out the carpets.  

Another option that you may consider if you want to upgrade the look is to tile over the floor and existing walls that are there already.  The tub appears to be white and in good shape.  I am a bathroom re-modeler and have often tiled right over the walls and floors with porcelein, installed new tub valve and fixtures.  where the wainscoat ends and the wall recesses I install 1/4 inch tile board (Denshield) and tile all the way up the wall or to save money you can just tile over the wainscoat and cap it off with bullnose.  Good luck and happy new year.  Some area's love the old look but I have done them both ways by demo and new tile board but that style is thick and nasty to remove with the wire and plaster walls.  Just a thought.  

@Mike Makkar: Thank you for the response.  I didn't realize you could do multiple sources at a time for the signature loans.  Not sure I like the hard inquiry on my credit score but I assume the liquidity for the signature loans could be a home run for being able to pull the trigger much quicker and not lose a deal over a waiting period.  I have accounts in NFCU, USAA, IBM CU, Chase and TD bank as well as a self directed 401K which I use for real estate purposes.  I like the idea of the signature loans because they will re-fill when paid back and can be used over and over if I understand you correctly.  Thank you for the great ideas.  Have a great and prosperous new year.    

@Lian sorry not sure how to highlight the name. How did the process work with Prosper. I have heard good and bad things about them as to time of funding and what their requirements are. I do JV's at times because of the cash needed but then you have to split the pie which can be more costly. Also looking at finding personal friends and family for the cash investment but not sure what is the best way to encourage them. Percentage rate monthly, cash up front to do the loan (in place of points) and the advantage I think would be to pay cash for the property and save quite a bit of closing costs.

@Cesar Lopez great advice. I am considering the same options myself and I also use 0 or low percent C.C. for the re-hab money. Is there a source to see which lenders, credit unions etc. give the highest amounts to utilize for REI? Is the Signature loan the same as a a line of credit? Thanks for the insight, HML can be costly and out of pocket can put a strain on your re-hab money. Any other thoughts?

Brian, if you can't get the funds and the deal is that good, why not just do a joint venture with someone.  A fast nickel is most times better than a slow dime.  Don't drop a good deal when there are so many investors looking for the right numbers.  I wish you all the best.  

I am interesting in increasing my buying power with a HELOC or Line of credit on my property. I use multiple cards for re-habs and that works well but it would be easier to have a line of credit to keep everything in one place. I also utilize a self-directed 401K and at times use private investors or hard money. Curious what the plus or minus of these are and what others are doing. Thanks for the input. I would also like to find a financial advisor who could set things up without having a product to steer you into.

Please give me a heads up if you ever do one during the week or evening.  I only work my JOB on Saturday and Sunday (12 hour shifts).  Looks like the group is growing and a great venue to mastermind.  All the best!