All Forum Posts by: Stephen Dickey

Good morning everyone .

Could anyone get me any information regarding having an O & E (Owner's and Encumbrance) Title Search or Report done in NC? I cannot find this info on Google for NC. Could it perhaps be called something different? I am needing to present this to my lender so I can finalize on a PM loan, and am hoping for any advice or suggestion. Don't have the time to do a full title search. Anything that can help regarding this would be greatly appreciated.

THANKS EVERYONE!

I started out with nothing but $1000 in the bank. When I did my first deal, I parterned into a sweet deal, got a loan for my share and haven't looked back since!  While it is definitely a good thing to have some savings, sometimes the will to get started will help you creatively figure things out!

@Astrid Cuas Congrats on your first deal ! If needing a down payment, I would definitely look into using some form of financing To get it done . IMO , always better to have cash in hand for the rehab because it seems like deals on material/services are easier to come by with cash . Then after you rehab it , refi and pay back . 

Hey Guys, I am doing some deferred maintenance on a property to refinance, and I am thinking about adding brand new windows to the house. There are 11 windows total, and they would be the double pane storm windows, all windows on the house are the same type of windows. From experience, does anyone have an estimate or ball park number on how much value this will add to the appraisal/house? Wanting to see if it will be worth my investment (would invest about $1500 into the windows). Thanks !

@Jonathan Godes Fortunately, the purchase money was a personal loan so no interest/lien is being applied .That should also give us plenty of options when we decide what to do. But HELOC is def an option.

@Audrey Truesdale thanks, Will definitely keep in mind , will PM you if needing to go that route

@Robert Germano That's the beauty of this site . BP members always give great advice/ direction. I would say "Funding" is a great keyword but also check out the forum categories when posting there are a lot of topics to choose from!

@Sky Mikesell Thanks for reaching out, I will send you an email !

Good Evening Everyone,

I am looking to receive some feedback/suggestions on some resources to fund a rehab for a deal that we just purchased. I have a couple of options I am considering, but am wanting some recommendations as well.

Ok, so here is what I am working with. A partner and myself just purchased a single-family house from auction a little outside of Charlotte. We got a great deal on the house, and borrowed the $$ from a private source in order to purchase the house in full. The house is now free and clear. Although we are in the business of buy and hold investing, we are looking to fix and flip this house in order to pay off a little debt as well as acquire some capital to reinvest moving forward.

Does anyone have any suggestions of any lenders (hard-money/private) or investor friendly banks (funding, flip loans, etc) that could help us with securing funding? Would be able to provide all details!

Thanks!

A lot depends on what you are trying to accomplish as well as your market! One good way to get introduced to real estate and your market is to attend an local REIA and start talking to people. Let them know why you are there. It's how funny how things start falling into place once you put yourself around like minded people. I know it worked for me!