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All Forum Posts by: Mark F.

Mark F. has started 4 posts and replied 308 times.

Post: Constructive loans - anyone closed with them?

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Funny that no one has replied at all , perhaps they aren't really closing any loans..... 

Post: Recommended Aurora/Naperville area Title Company

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Hi highly recommend Investors Title Services, they are underwritten by Fidelity Title and will provide the same services as the other title companies at a substantial savings. I have used them several times and they are focused primarily on investment properties and the owner @Joe Mueller is an investor himself and also owns TANIS Group Realty and runs a weekly REI meet up group as well.

Joe has been a mentor of mine and has become a personal friend, he won't steer you wrong. 

https://investorstitleservicesllc.com/

Mark 

Post: NEWBIE Introduction From Illinois

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

There are also weekly meeting at TANIS Group Realty in Algonquin, which is owned and run by @Joe Mueller which I highly recommend and is not far from you at all. 

Their meetups are posted here  https://www.meetup.com/investor-empowerment-chicago/

Post: Constructive loans - anyone closed with them?

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Anyone on here try Constructive Loans or work with @David Nunez ?

They strung me along, telling me everything is all good and on track until after hours on the day before closing they change the https://www.biggerpockets.com/forums/517/topics/693204-fix-and-flip-and-low-doc-rental-loans

Edited to add: I just tried to comment on the thread they posted a couple of days ago and got an error message that I'm can not post a reply....... hmmmmm, perhaps they don't want the truth to come out.

Mark 

Post: Anyone every use Constructive Loans?

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

No one's used them?...... 

Post: NEWBIE Introduction From Illinois

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Welcome @Erik Strauch, we are practically neighbors. Let me know if there is anything I can help with and good luck on your new endeavors.

Mark 

Post: Anyone every use Constructive Loans?

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Anyone on here try Constructive Loans or work with @David N.It seems like a bait and switch to me! 

All said and done it cost me an additional $2300 in fees for the HML that went past its maturity date plus the appraisal, all this could have been avoided if they told me they had an issue with my credit score from the beginning.

Also, it should be noted that my conventional broker was able to close the loan in 3 weeks and had no issues with my  credit with no points of course.  

Anyone else successfully and use Constructive Loans and been happy with them?

https://www.biggerpockets.com/forums/517/topics/693204-fix-and-flip-and-low-doc-rental-loans

Edited to add: I just tried to comment on the thread they posted 2 days ago and got an error message that I'm can not post a reply....... hmmmmm, perhaps they don't want the truth to come out.

Mark 

Post: Loan says I got 48 "Debt to income" ratio, what he talking about?

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266
@Chris Mason you are right on, I had 3 properties on my schedule E that show 365 days but weren't, 1 was completed and rented June 1st, one was September 1st and the other was December 1st. 

How does that change the tax I owe, do you know? Probably not your area of expertise but was just wondering. 

Mark 

Originally posted by @Chris Mason

Post: Facebook Marketplace and a question

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

Ok, so in my email I did find the original thread for the Google Form screening method. I ended up using a very similar version of the one the original author provided but modified the questions to meet my needs.

https://www.biggerpockets.com/forums/52/topics/476093-how-we-screened-300-tenants-with-zero-phone-calls-for-free

Post: Facebook Marketplace and a question

Mark F.
Pro Member
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 266

I've successfully used FB Marketplace several times, in fact just rented a house for April from marketing the house there, had 96 inquires and 23 that took the time to submit the pre-screening application. 

I used a questionnaire that I made on Google Forms that I read about on here and I love it, it's been a real time saver. When someone messages on Facebook, I send a copy/paste of the same response to everyone that the house is still available and if they are interested in viewing the home to complete the pre-screening application (with the link attached)

Another think this does for me is I am able to match up the Facebook profiles with the applications received and yes of course I look at what they post and what there photos show as the kind of person they are, if they have pets they didn't mention, are always drinking in photos or drug use, etc 

I did a quick search and found the original thread and have attached it to this response, I certainly can't take credit for this awesome idea.  

https://www.biggerpockets.com/forums/52/topics/448203-pre-screening-questionnaire

Mark 

Edited to add:  Ok so that's not the original post I saw about Google Forms, I thought it was but you get the idea