All Forum Posts by: Jim M.

Buffalo to Charlotte transplant...go Sabres! Welcome to the board. What are you looking to do in Buffalo? Lots of rehabbing multi families in Buffalo from what I have heard!

Did they ever recover any portion of the money?

I have a property I am looking to get a loan for. The loan is for 225k and is 35% of the the value of the property. This would be a short term loan for roughly 30-75 days. Message me for details please. Thank you It is here in Charlotte NC and is a single family residence.

lets 50-17 is...i kid! Sounds like guru speak to me

Condos are tough to get loans on if the complex is more than 50% owned by investors. That HOA fee seems very high to me...how well is the complex taken care of?

Would your son be open to drug tests to prove he is clean? I believe you need to somehow get the children out of that environment even though it seems the mom probably loves the tax benefits of those kids. Drug addicts become very selfish and will burn any bridge and cut any cord to get to the next day. A very close family member of mine is in the middle of addiction and we are just finding out as of a few months ago.

It would be like a never ending argument...I make x amount of dollars doing rehabs...well I make x amount of dollars building new. Fact, it seems like your both making money on different strategies working in the market your in. It shouldn't be an argument because nobody is right or wrong.

Are there certain areas in a city that you may think will be the next to rebound? Here in Charlotte I am doing that right now. Lot of old family homes that have just been passed down in a protected historic district that some of us are picking up and renovating.

When the builder quoted you 100-105 per sq foot is that with him financing the deal? If you are financing the deal you should be able to get the price down quite a bit. Here in Charlotte if you are doing the financing yourself you can get the cost down to $80 a sq foot or so if you negotiate hard.

Ask your realtor if she has done other spec homes and go see them. Is the realtor splitting costs for the construction or just wants 50 percent of the profit? What did she pay for the lots?

Just under 1% is what I paid for my most recent set of plans for a spec home. 10% seems awfully high.