All Forum Posts by: Jose Campos

I looked and double checked. It states credit check and verification but they are saying it falls within their parameter. Still never experienced this or seen this. That's why I was wondering. Does not seem like standard procedure. 

Hey guys,

Quick question, I am working with a new lender (new for me I have never worked with them before) from the Northeast for a refi cash out. They ran my background but did not ask permission nor did we ever discuss that. I approved the credit check and gave them my social security number but just found out this morning that they are waiting for my background check to come in, which was news to me. I went through our correspondence and all the forms I have signed with them and do not see criminal or background check in there. I told them it will come back clear but can they just go ahead and do this?

I have done dozens of deals with credit unions, banks, and hard money lenders and never had a background check requested or just done like that. Is this legal and standard practice?

Great advice thank you! Yes they did just provide their orders and I have had them in this unit for sometime now. Just wanted to get a better hand and understanding of how this works and what to expect. I will ask for their CO's contact info. They said their orders just came in and it is for the end of this month or March I believe so very quick and caught me off guard

Thank you!

Let me know if you need a CPA. Mine is great and have had him for several years. My tax returns are several and may be more complex than yours but he charges me much less than that.

My tenant received their orders recently. This is a first for me. Can they just break their lease and move out since they are being relocated? Does the military pay their remaining lease or how does this work? Please advise thank you!

Any recommendations for finishing out a sheetrock project? Need to tape a float, texture and a little drywall repair. Good, honest recommendations appreciated. This is a rehab that is almost complete just need to wrap that part up.

Thank you!

Would love that thank you very much!

Investment Info:

Single-family residence fix & flip investment in San Antonio.

Purchase price: $110,000
Cash invested: $192,000
Sale price: $299,500

Fix and Flip. Sold

What made you interested in investing in this type of deal?

Great location and potential STR

How did you find this deal and how did you negotiate it?

MLS and negotiated with broker

How did you finance this deal?

Cash

How did you add value to the deal?

Full rehab with addition

What was the outcome?

Successful sold

Investment Info:

Single-family residence fix & flip investment in San Antonio.

Purchase price: $159,000
Cash invested: $89,600
Sale price: $333,000

Full rehab

What made you interested in investing in this type of deal?

Location and condition of property

How did you find this deal and how did you negotiate it?

MLS and negotiated with broker

How did you finance this deal?

Corridor Lending hard money

How did you add value to the deal?

Full rehab and flip with addition and modern clean finishes

What was the outcome?

Successful flip

Yes many are. Usually credit unions are your best bet for low fixed rates. Can be very selective, tedious, and slow though. Security Service Federal Credit Union is hard to beat.