All Forum Posts by: Emanuel Stafilidis

@Bradley Greenberg

I am interested in chatting about financing in Cleveland. Recently purchased 2 properties there.
PM me when you can.
Thanks,
Emanuel

Hi George,

I am interested in getting more information on this property.

I would probably buy it as-is however we can talk about your futther involvement.

Can you please send me all the information you have.

Thanks and Regards

Emanuel

[email protected]

Hi @christopherwilliams

I am interested in knowing more about your program. I am investing in Ohio at the moment.

Thanks

I just purchased a SFR in Cleveland last week and the purchase contract has the following clause;

"Grantee herein shall be prohibited from conveying captioned property for a sales price of greater than $XX,XXX.00 for a period of 3 month(s) from the date of the recording of this deed. Grantee shall also be prohibited from encumbering subject property with a security interest in the principal amount of greater than $XX,XXX.00 for a period of 3 month(s) from the date of the recording of the deed. These restrictions shall run with the land and are not personal to grantee.

This restriction shall terminate immediately upon conveyance at any foreclosure sale related to a mortgage of deed of trust."

I paid cash for the purchase and am now refinancing it to perform the rehab and the maximum loan amount is restricted to the amount in this clause.

Certainly caught me by surprise.

Lima One Capital have helps me purchase SFR's in Cleveland. They are good to deal with, gave me all the information I needed to make a decision, close quickly and are not overly expensive.

Hi all,

Has any one dealt with The Lending Hall INC. Commercial Finance Group? The principal of the group is Mr Hall Joshua. 

I'm not sure if this is a scam or legitimate. I responded to a post here on Bigger Pockets from loan officer Melodie Sickles offering private lender finance at 4%.

The process has been pretty easy and the contracts appear ok however there is a $1,580 origination fee that is to be paid into a personal account prior to the loan being issued.

$1,580 is not going to break me but I could do without a scam in my life.

Hi Rick,

I deal with Alison Giraldo at Russell Realty and found her to be very good.

PM me and I will provide her details.

Angela and I live in Sydney Australia and have kids that live in North Carolina. The kids are not involved with our real estate adventures however they hold the mail for us when it is sent there.

We have a condo in Raleigh NC that we purchased all cash in 2011 and have just accepted an offer on it. The sale closes first week in March 2016. We have an LLC and a Bank Account in the US and opened these without actually going there. Our accountant who helped us back then is still our accountant today. Back then, much like today, the kids were no help at all. We found people online willing to help and take our money but in the end we got what we wanted/needed.

We really wanted to buy more properties between now and then but couldn't get finance. It's not easy as a foreign national but just recently, say the past few months some financiers are starting to open up. We are very optimistic. 

We are looking at using the money from the sale to implement the BRRR strategy. NC is pretty expensive now so getting out of there, looking at Ohio and Michigan. We are interested in Georgia but just can't find a good investor friendly agent who wants to work with us. We will keep looking.

Some of the deals we are looking at right now could even be good flips. It's not easy flipping from afar as you really don't add any value apart from finding the deal and providing the money. We will see how this goes and let you know if we ever complete a profitable flip.

We would be happy to meet up with anyone over a few beers in Sydney. Until I found this post I thought we were the only Aussies that saw value in the USA property market. It's great to know we aren't alone.