All Forum Posts by: Joe Lijoi

Thanks for reply. Loan was a six month term that has already been extended once which came with a higher rate and an extension fee. It’s becoming too expensive to keep with the delays I am having trying to wrap up the project. 

Hey gang,  

My fix n flip loan is coming due and I have a bit more work to do that will extend the timeline. Does anyone have lender/refi suggestions on how to pay them off but continue with the project? I’m not even sure if that is an option of if I am stuck and will have to eat the fees/penalties. Hope I’m making sense. Thanks! 

Hi all!

My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there has not been income or is the fact that it is a real estate project treated differently? This is my first property in an LLC so I am not clear on the rules and have been told differing things depending on who I speak to. Thanks in advance!

Hi all! 

My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there has not been income or is the fact that it is a real estate project treated differently? This is my first property in an LLC so I am not clear on the rules and have been told differing things depending on who I speak to. Thanks in advance!

Hello all!  I have a fix n flip  under contract and my lender is requiring insurance.  I am having a hard time finding an insurer that will insure since there are foundation issues currently.  They are in scope for the rehab.  Does anyone have a recommendation that might be willing to insure?  Thanks! 

Thanks, all!

Hi all!  Can anyone refer me to resource where I can get a MI purchase agreement that can be sent and e-singed?  

@Scott M. @Cody Neumann  I appreciate your input more then you know.  Thank you, so much!

Hello all!

What is everyone using in terms of cost/sq ft. in determining their rehab costs when putting together their numbers on a deal for light, medium and heavy rehabs on houses in the 1000 sq ft range? 

https://drive.google.com/drive/folders/1V1rNgq3Rfk3CBrdLehIdUVYBiGTd109c