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All Forum Posts by: Adam Engleman

Adam Engleman has started 2 posts and replied 8 times.

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Jamie Fletcher I would really be looking at cash flow now. Not cap rates. Would want it to cash $200 a month after PITI, NOIs and 20% down. And I would like to find a property manager first. I was looking back in July but I moved into a new apartment and got distracted. But property values and rent seem to reflect off the market and that worries me with a possible recession.

But I would take a look. I would prefer multi family but I know they are hard to come by. Multi preferred would be =<$250k but could go to $350k if it’s good.

Post: Can you house hack with only one owner living there?

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

New York City, Brooklyn

House Hack Hacking

I’m an investor and my friend is looking to buy a house. But he doesn’t have the down payment. And I don’t have enough for 20/25% down in NYC.

I'm wondering if he could buy a 3 family (triplex), and for him to house hack it with the FHA 3.5%. I would give him the down payment for ownership of 50% of the house. He and the other tenants would cover the PITI. The mortgage would be in his name. Is it possible to have 2 people on the deed, one which doesn't live there when doing a FHA? Or is this more of a first lien type of loan?

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Mason Moreland

Can you recommend a good propery management team?

I probably have to buy on the MLS. I don't live there and I know how hot the market is there. Anything worth renting out Someone else will find before me. Unless you know of something?

As for rehabbing, I’m looking for more of s turnkey property.

Im unable to look around in person, I live in NYC.

Thanks for the education on the areas of Midland.

KIT

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Mike Evans

Can you recommend a good propery management team?

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Caleb West

Where are the areas that you feel are the best?

Can you recommend any property management?

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Mike Evans

Single Family seems to be the only thing available out there.

Can’t seem to find any Multi’s

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

@Mike Evans

Do you hope for higher or lower oil prices?

When it comes to the housing prices/rentals.

What area of midland is the best for rentals?

Yes please recommend some property managers.

Post: Midland Texas Investors

Adam Engleman
Pro Member
Posted
  • Rental Property Investor
  • New York City, NY
  • Posts 8
  • Votes 3

Hi,

I’m from New York and looking for my first intended investment property.

Midland TX Investors

Can you recommend a property Management Company there?

And is Midland a lucrative investment area for rentals?