All Forum Posts by: Joe Salimao

Chris,
I used Bandit signs. They are great. The signs looks really good and thier prices are reasonable.
They also have, which is what I use for telephone poles, horizontal piping so they don't snap right down the middle. These are ideal for hanging on telephone poles.
Joe Salimao

Hey everyone,
I have an owner financing question.
If I was to get a deal with owner financing that needed some rehab where would I go to get the money for the repairs? The whole point of taking owner financing is so you don’t have another loan in your name correct? But wouldn’t I have to get another loan for the rehab anyway…unless I wanted to use my own money and leave it in the property?
Do you guys use a HELOC? Does this not count as a mortgage?
Joe Salimao

Right, but that is not what the post were suggesting. I think they were under the impression that this would have an effect on the score.

I was also confused by several previous posts stating DTI effects your credit score. Your income is not on your credit report so this will have no effect at all. Now debt to credit will absolutely effect it.
Question: Do mortgages effect your dtc? Or are they considered a different type of loan?
Joe Salimao

Hi everyone,
I am very interested in doing some subject-to deals but I don't know that this is really feasible since I am planning on holding onto the properties I get for 30+ years and since it may affect the seller’s ability to get additional financing.
My question is if I take a property subject-to can I refi the property at a later date (6 months)? I don't know how this would work since I don't have a mortgage in my name to begin with so I don't know if this would be considered a refi.
I am just trying to think of ways to incorporate subject-to for rental properties so I don't need to come up with cash right away to purchase the property. If I could refi out of it than and as long as the property was below 70% LTV I wouldn't have to take any money out of my pocket. Any ideas?
Joe Salimao

Marissa,
I am in NJ also, although, I am mostly looking in Philadelphia. I have been doing exactly this. I have found some markets that I think are good and I also now NJ pretty well.
Where are you looking to invest?
Call me.
Joe Salimao
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Hi all,
I am trying to search the MLS for investment properties. How can I search for keywords? Most realtor websites don't let you (century 21, wiechert...). Is there a web site you guys use?
I am in the Philadelphia area...dont know if this matters.
Joe

Hi all,
I am looking for private money lenders in the Philadelphia area. Does anybody know the rules for advertising for private money lenders? I know there are guidelines you must follow. Not even sure who the governing body is that controls this but I heard there are pretty hefty fines if you try and raise capital in the wrong ways. Any suggestions?
Joe Salimao

Hi all,
Does anybody know someone, maybe themselves, who would be willing to collect NOD listings in Philadelphia for a fee? Please give me a call if you or someone you know is interested and we can discuss. Thanks.
Joe Salimao
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Hi everyone,
I attempted to go to the courthouse in Philly and it was a nightmare with trying to park. Does anyone know of any local foreclosure listings in the Philadelphia area that are updated on a weekly basis and maybe more? I heard these national websites are not as up to date as some local ones but havent been able to find these local mailing lists.
Joe