All Forum Posts by: Sabi Const

@Doug Woodville applying for a credit card at Home Depot is an immediate decision and access to the credit line just a simple bar code. 

This is a very easy process but have been advised that I can use my personal card and just keep strict records. 

I'm just asking for advice, not judgement so a simple direct answer would either help or confirm what is already known. 

I thought that this is a pay it forward forum and once I have this deal and hopefully many more, I will absolutely be happy to give direct, proven answers and help future new investors. 

Thanks for your reply. 

Perfectly focused on the profits. Perhaps someone can advise on the minutia as well. 

How does that saying go, the deveil is in the details? 

@Jay Hinrichs It all ties in to the costs. If you have something good to share, please do so.

Also regarding alarms, what do you suggest is the best way to secure a property while it's being renovated?

Closing is scheduled for this Friday and I have some questions.

This is meant to be a flip and I am not sure what are the first steps... I am buying it in my LLC and am curious if I should apply for a commercial credit card at the Home Depot or should I use my personal?

Also, what should I use to track expenses? Does an excel spreadsheet work ok or what program works best?

What about utilities? When do they get put under my S corp? How about taxes being paid while owning the property?

These are some of the questions that I am thinking. If there is anything else, please feel free to post.

Thank you!

@Brandon L. I am represented buy an agent that is a double agent - representing both sides.

I am being quoted settlement charges: 

$533 'title services and lender's title insurance'
$1,011 'owner's title insurance' 

Does this make sense? The r/e agent isn't helpful at all. 

I have a property that is a 'short sale' which I am interested in purchasing.

The bank just accepted my full cash offer and I have a few questions as this is my first purchase. 

After requesting the HUD, I see that the bank is paying the real estate agent 6% of the purchase price. Also, since this is a cash offer, I have a few questions on the settlement charges.

The purchase price is $185k... what should be the average closing costs in NJ? 

Title examination
Realty Transfer Fee
Realty Transfer Fee Tax

As far as I am concerned, what other additional costs should a buyer pay beyond the title search and transfer tax?

Thank you for your time and comments!

Wouldn't that be found by giving the EIN # and a simple search? I'm just thinking that the offer plus the above information is really all they are concerned with.

Hi everyone, I am in the process of buying an investment property as a short sale. The listing RE agent is asking for: LLC docs EIN # State registration Articles of Incorporation Does this make sense? I already put a deposit by from from my LLC so why are they asking for all this info? Thank you for your time and look forward to your comments.

Daniel Guerra from 0-56... How did that work out? Don't lenders require at least 30% dp on a commercial unit (over 4 families)?