All Forum Posts by: Hans Restuccia

If I am aware of what I think is a problem with the title I would absolutely let the title company know- we have had claims and they play games, we have had to sue them for the coverage, this can be costly and time consuming and can hold up a sale.

I would always inform the title company of any issues I perceive because of the hassle of filling a claim- I would rather avoid it in the first place, especially if I am on notice.

Just my 2 cents!

good question!

good idea

Need hard equity lender.

I have heard of several cases where real estate investors have relied on private investors to lend on a deal and that the following has happened:

1. Too slow;
2. Do not return calls;
3. Too conservative;
4. Ask for too many docs, income, credit, etc.
5. Are scared of anything less than primo property;
6. And when all is said and done, they back of the deal for some bogus excuse and leave the investor holding the bag!!

Now of course, although I have truly head this tale more than once from mortage brokers, I am aware this is a generalization. But I am HEARING this more often.

How do you feel? Would you rather work with a professional HML or with a private investor? What has been you experience.

@Joffrey, was there a simple explanation of the answer to the question relating to regulation- or was it still confusing after the seminar????

Welcome! Glad to have you!! Let me know if I can be of assistance in any way. (I am new to BP too- smile)

David Beard As for evaluation of Miami & South Fla- You a smart man because all of that is precisely correct!!!

Also as for other posts above, note the South Fla approach to rehab or construction completion loans. They will be based a max of 65% of the current value because the lender wants to "at all times" stay at 65% of current value in case of a default. If there is a default the lender has to finish the project so he wants room.

For the increase of value based on improvements thereafter, the lender will give draws of 65% of that new value put in the project because the value goes up accordingly.

David Beard

Thanks much!!!

Welcome! Glad to have you!! Let me know if I can be of assistance in any way. (I am new to BP too- smile)