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All Forum Posts by: Michelle Simoni

Michelle Simoni has started 10 posts and replied 30 times.

Post: Incredibly slow contractor

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

I second @Evan Polaski. The only way to get them out there is by incentive. They usually don't come back because they are on another job and will finish your job when they are between projects. If you send them a list of everything that needs to be completed that helps too because they can get themselves organized quicker.

2gs and a bottle of their favorite tequila should do it! Good luck!

Post: Structure an owner finance deal for an 8 unit complex

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

@Gregory Schwartz this is the response I was looking for when I posted on the forum today! Great insights, thanks for sharing.

Post: Seller Financing - Multi-Family 2.2 mil

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

Thank you, Robert.

I want to bring the least amount of cash to the table.

Would capital investors be interested in partnering long term on multifamily?

Post: Seller Financing - Multi-Family 2.2 mil

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

Thank you for your insights, Evan.

I was interested in making a seller financing deal because they had their property listed in a very desirable area and the listing expired and is now off market.

Most of the time listings expire in desirable areas because they are overpriced. So offering them what they want at 2.2 million with no broker fees I imagine would at least peak their interest. I was questioning how much to offer in down payment, interest rates and terms. I have offered seller financing before on another multifamily in the area and crashed and burned.

Post: Seller Financing - Mult-Family

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

@Jeff Pasmore this is immensely helpful, thank you!

Post: Seller Financing - Mult-Family

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

A lead wants 2.2 million for their 10 unit multifamily.

What would be an irresistible seller financing option to offer them?

Post: Seller Financing - Multi-Family 2.2 mil

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

A lead wants 2.2 million for their 10 unit multifamily.

What would be an irresistible seller financing option to offer them?

Post: Anyone Used Backflip Lending Or Similar?

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

Has anyone used Backflip lending to fund a fix and flip? Or anything similar? I am looking to do multiple flips a year and need funding.

Post: Great Flip Markets But Wary

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

Thank you, @Mija Aguilera I will keep that in mind. I appreciate your insights! Best of luck to you on your project, so glad it is going well for you.  Likewise if there is anything I can do on the architectural side I am happy to help. I am doing projects in Michigan, Ohio and Chicagoland.

Post: Great Flip Markets But Wary

Michelle SimoniPosted
  • Architect
  • Chicagoland
  • Posts 31
  • Votes 16

@Jonathan Greene, @Peter Mckernan, @Zachary Deal

Thank you all for your insights this is super helpful and I appreciate the responses.