All Forum Posts by: Christopher Blanco

Any up front fees that are not for appraisals/inspections are a red flag. I work as a loan originator, and the ONLY up front fees we MAY ask for is the appraisal, but that is only after you have been approved. We do have a few other fees that are part of standard closing (points, legal, etc), but those are all part of the closing and never upfront. 

Welcome to the ICG10 Ohio!  I am the loan originator for ICG10, a private lender, and I am focused on the Ohio Market. I live, work, and invest here, so I understand your market, and your challenges! We provide bridge, fix and flip, construction, and buy and hold financing for real estate investors! We have over $1B in assets from individuals and want to fund your project!

Our Bridge/Fix and Flip programs are quite simple. They are designed for Fix and Flip/Construction, but we do have buy and hold programs as well. The Fix and Flip Loan product has three tiers, based on experience.

Please like my Facebook page at http://www.facebook.com/icg10Ohio, send me a message there, or shoot me a message here. Lets get a deal funded!

I have been using them for a year. Been good so far, and for $50 a month, you can't beat it. 

@Finny Chacko Hi! Yes we are trying to get it closed, waiting on a title issue from previous owner, that got botched a little when I bought the house (money got wired to the wrong agency). It ended up selling for $124K cash. 

Is your goal to get money out of the property, or own the property? If it is to own the property, would your aunt consider seller financing the property to you for a period of time? 

I am looking to fund the purchase of a property inside my two LLC's to cash out for a BRRR. I will be buying a property inside my Buy and Hold entity from my Rehab entity for $125K. In order to do this I need a 20% cash down payment. I have my cash tied up in deals so I cannot come up with the $25K. Once the sale is finished I will be cashing out $56,000 out of the home. From that you will be repaid your $25K + $1K fee for using the money for 30 days. Thats a 60% APR!!! Please PM me for more details and I can even have you talk to my lender.

Cleveland Heights is a great and upcoming area, but the issue with any of the Heights areas on the East Side are property taxes. As long as the numbers work for you, then its not a big deal, but just be aware that taxes can range from $300-$750 a month in your budget in some areas. 

Feel free to hit me up in PM for more info. 

@Richard C. I don't think I was being, nor was my intention to be, argumentative. I was just trying to explain where my head was at for each comment. 

@Debra Grumbach Its not over powering. Its enough to make a vacant house smell fresh when you open the door. I use the clean linen scent from glade and it is subtle and nice and makes the house smell fresh. There are no smells to cover up. 

@Joe Splitrock You need to look a little deeper in Cleveland heights. There are a lot of distressed properties.  Take a look at these comps in that neighborhood sold in the last 6 months:

Comp 1

Comp 2

Comp 3

Comp 4

Also I get a feedback sheet from each buyers agent. Out of 15 showings, 14 thought the property was priced right.