All Forum Posts by: Stacy Gilman

I am looking to refi my house with a HELOC to just hang out there in case I need it. Any suggestions on who's the best financial institution to do this with? I have looked at TD Bank and Navy Federal Credit Union so far.

John,

Thank you for the advice! I spoke with a public adjuster today and have a lead on a Boston attorney. Hate to do it but I've had enough of the runaround.

I just suffered a major fire that my tenants caused. Its been a month and very little has been done. My insurance company screwed up in insuring the property and are trying to cover it with their E&O policy. Any thoughts on hiring an attorney or public adjuster? I'm trying to do the right thing here but am concerned I will get screwed by either or both and am very frustrated. I just want my rental put back together. The damage is north of 150k.

Hi All! I recently purchased a six unit multi and am looking for a construction loan for the property for about 150k with the ARV of the property north of 300k. This is the first time into the construction loan arena so any advice/suggestions would be must appreciated!

I am in the process of purchasing a multi-unit property that has six units and a single family house on the property. The current owner wants to owner finance however, has a 47k delinquent tax issue with the town. Town will not negotiate. I have offered to purchase the property for 80k. The single family is turn key but the six unit multifamily needs significant repair . Any suggestions or tips on how to purchase this property for 80k, pay the town and put some money in this owners pocket?? I tried some hard money lenders but no one seems interested. The owner is willing to take 50k up front (cover the 47k line and 3k to owner) and then hold a second for the 30k remainder. I would appreciate any tips or suggestions on how to get this deal closed! The house alone is worth the 80k! Yes, I know I could wait for the tax lien sale but I do not want to. Thanks for reading!!!

Thanks Chris Eaker and Aaron Smith for the responses. I could wait until it goes to tax lien but then I get in line with 20 others folks like us. The property value is there I just need a creative way to finance it...

I am in the process of purchasing a multi-unit property that has six units and a single family house on the property. The current owner wants to owner finance but has a 47k delinquent tax issue with the town. Town will not negotiate. I have offered to purchase the property for 80k. The single family is turn key but the six unit multifamily needs significant repair . Any suggestions or tips on how to purchase this property for 80k, pay the town and put some money in this owners pocket?? I tried some hard money lenders but no one seems interested. The owner is willing to take 50k up front and hold a second for the 30k remainder. I would appreciate any tips or suggestions on how to get this deal closed! The house alone is worth the 80k! 

I see lots of ads for Cogo Capital for private lending. Has anyone had any experience with this company? 

Ann, 

Good morning and Happy 4th of July! Can I ask why not fund in Southbridge? I love the Black Diamond site and will be joining. I can't attend until August as I'm traveling for work. I'm really looking forward to meeting you and learning from you and the other members. 

No sir, I have not heard of that organization. Do you know where I'd find more information? That you for the tip!