All Forum Posts by: Chris Purcell

 Example:  contractor needs to get in house during day, tenant works during day.  Who's responsibility is it to let them in?

@Jordan Archer

Hard money lender would

Then refi out into a conventional

If the deal is good enough build the points and interest into your budget

@Kevin Taney

You’re right.  Cause the contractor couldn’t just give you 3 numbers of his boys with a script to go off of.  I guess you’re right though, if you’re not smart enough to pass a reference check, next!

Don’t pay anything upfront.  See pictures of their work.  Go to other job sites if you can.  Call references (could be useless).  Check insurance.  Licenses etc 

Most importantly DO NOT pay upfront.  EVER.  I don’t care what excuse.  Do not do it.  Buy the materials yourself.  Get them delivered, pay and have them pick up.  Whatever

Once you make a payment, you lose all leverage you have.  

@Darian CaHill

What do you mean given to you?

Is the house in your name?

@Lauren Feltz

You can write-off business expenses against income yes.  The IRS doesn’t care how you financed the property, just that you’re properly reporting your income and deductions.

There are IRS guidelines for your situation - try searching around google or talk to a CPA

@Lauren Feltz

Your loan type has nothing to do with your taxes, they are completely exclusive.

@Jana Cain

Need more info

- Purchase price

- Condition 

- Market Value

- Are you adding value (rehabbing)

May have more questions after these. Happy to help

@Mike Hanneman

Your post was overly dramatic

Your property is done and rented so either eat the hard money interest for 6 months with less cash flow or go find a local credit union who will lend based on portfolio 

Not that hard

$20 delivery if you have pro services