All Forum Posts by: Joel Shupe

Looking for an investor friendly title company to work with in Joliet, IL area.  Anybody have a solid recommendation?

Thank you!

Hey guys, came across this thread, thought I would jump in and introduce myself.  I'm a new investor in the Joliet area, closing on my first property next month.  I know there is a Joliet group that meets every month - Joliet Real Estate Investors.  They also have a facebook page.

@Paul Bergagna Thanks for the warning.  It's a unique situation - a defunct condo association, so no budget, etc.  Typically, from my experience, most lenders will avoid em, but i have a lender who is all set to go.  In fact the lender was recommended to me by the seller's realtor because the lender was previously vetted by the realtor for this property.  I negotiated the offer and the seller turned it down (his realtor was upset) because he wanted the "sure thing" with cash.

@Matt P. I will do that, thank you for the info.

Thanks Chris, I like that idea - offering the lower price if paying with cash.  Might push him back to the original offer with conventional funding.

Hey all, newbie question here:

I have identified and negotiated a solid deal - numbers beat my targets, and I would hate to let this one slip away.  The gist of it is that the seller wants a cash deal, and doesn't want to wait for my conventional financing to go through.  The question is this, if I were to borrow the cash to complete the deal, could I then instantly finance/refinance the property into a conventional loan?

Follow up - by doing a cash deal upfront, would I save the seller any closing costs that I could exploit to lower my offer?

Appreciate the insight!

Joel