All Forum Posts by: Mark Leclair

So a lender would lend me $$ to do the rehab? I wasn't aware of that and why I was thinking the HML Route.

Hello all!! I am going to be closing on my first investment multi family housing and was curious has anyone done hard money lending for a rehab? I want to fix the property up and refinance this, live for a year and then get another one. I have the equity once it's fixed up because I got a good deal on this property. I have never used HML before and does scare me but I am curious from those with experience with this and what are the thoughts of everyone on here regarding this...... Thank you!

Hello All,

I'm working on putting my power team together and would like some referrals for good, investor friendly, CPAs, Real Estate Attorneys, Title Companies, Realtors, Insurance Agents, Contractors, etc in the Windsor, CT area.

I appreciate any information you are willing to provide.

Thanks!
Mark

@Nicholas Groover how does that work for fix and flips because don’t they usually balloon after like 8-12 months and payment is due.

I would like to use HML but I know it's a high interest rate also but it seems that may be only way I can buy fix up and sell a property etc. can you refi a HML for the 70-80% ARV after the fact?

@Jason Seward I would use the laminate that looks like tile for bathrooms and kitchen because it will break it up and look even better. They do come in like 13x13 squares as well with a raised embossed feel to it so it feels and looks like tiles.

@Jordan Woolf if the siding has no issues rn peeling etc it should be fine. Just because it is asbestos doesn’t mean not to buy it, just don’t replace the siding and you’ll be okay if it’s in good shape.

Can you wholesale off the mls? If so are there any stipulations and how would this actually work. Anyone with this information please let me know thank you

So I have a list of phone numbers for people with distressed properties I wanted to reach out too. Should I call them or text them or both?

Looking for some tips and what you all have done that has been working

I have a handful of distressed properties owners numbers. Do you call them or text them? What works best in these scenarios?

@Joseph Firmin yea I’ll deff check that out for sure!!! Thank you Joseph