All Forum Posts by: Dennis Luciano

Hello, Adrien

Glad to hear that you are expanding your search in another format. Every market has a different strategy such as: mailings, banded sings, and phone calls. In my area I found that I have to send out 2 to 3 mailings before I get a response. The key is to continue to keep reaching out every which way to find out which is the best strategy in your area or ask local investors that have tried a similar strategy. 

There are obviously various factors, such as your budget for this strategy. I personally found other investors that this strategy works best for them and other that does not. 

Send the mailing and keep refining your strategy. 

A new path that challenges me mentally, physically and makes me more creative. I see the future and how reachable it is. The passive income has made life more pleasant. 

Welcome to the community, It great to see that you are doing well. 

I just finished the rehab on a 3 family home in CT. I have been calling banks looking for a portfolio lender. 

If you are a portfolio lender, reach out to me and we can talk bout the details of the property. 

Thanks, 

Hello bigger pockets I have a question regarding harmony lending terms of what's typical in the contract.

I have a closing coming up and the final terms seem different than expected. I am being told that the terms are normal. 

So biggerpockets my question Is in the terms of a hard money lending of a withdrawal of funds on a rehab. I have to make the repairs then make a request to draw on the a count.  So I am being told that they inspect and determine that it was repaired then they will fill a form and send us a check. 

The questions is that on the contract it states that they the lender may pay or not pay for the work for the repairs. Is this normal or not.

This terminology is what is worries me because whatever I spend for repair and is completed I expect reimbursement.  As the lender stated on the phone.  I make the repairs then they pay. 

So is his terminology normal or not biggerpockets?  

At the end I understand the goal is fix and refinance the property and keep it as a rental. 

Thanks for the responses. 

What I have been told as an option at this point would be to do a double close and as long as I show that my partner lives on the property for one year that it should close. 

If this sounds right to you guys let me know. Otherwise I have to move on. 

Also working on the private funding at the moment. 

Thanks, 

My partner got a three family house under contract as an owner occupy. The cash on had that was available to purchase the property is no longer available. 

Purchasing the home for 100,000k with a 35,000k of rehab and an ARV of 188000.

Question? Due to the owner occupy clause how can we close on this deal? 

Option 1: The hard money lender that we have spoken to, state that they can not loan to owner occupy. 

Option 2: Do a double close with transnational funding. However, the seasoning period is a year. So is this possible due that you would be purchasing the property yourself with a different lender. 

So my 2nd question is, is private lending the only option at this point? Any suggestion? 

Thanks,

Thanks for the incite on the local area. I am looking to whole sale and flip to generate some seed capital for buy an hold.

Thanks for the feedback. I have use list source and waiting to replies. Just checking for other local success strategies.

Thanks,

Question, what strategies has work well in the Connecticut, Hartford county area to reach single family homes? Any recommendation is it: Banded sings, yellow letters, post cards, and billboards.

I know it depends on the town and what each investor is focusing on.

So towns like West Hartford, Newington, Plainville and Manchester in the state of Connecticut.

Any suggestion!!

I agree, it's important to have the right peoplease on your team a good broker and contrator makes it easier. However with time and trial and error you will find who is re-liabe.