All Forum Posts by: Amanda Sokol

The company is a legit company, but I’m wondering if it’s someone posing as them. Going to do more research.

I have a deal I don’t want to lose. Who is doing the following in Covid?!

-non recourse 

-2.8m

-30 year am

-75% LTV

-rate in the 3s

I got all but non-recourse. I don’t want to lose the deal and can’t go agency at this point. Any banks doing these deals? 
I worked so hard of this deal and refuse to give up 🙂

While not ideal to shell money out, also keep in mind having a low payment mortgage payment is never a bad thing 🙂.

I have so many!! When I started I bought a house in the dead of winter-did a walk through and didn’t open the windows because it was freezing. Here every window was broken. 22 windows added up quick and blew my budget. Needless to say after that I always check the windows lol. 

For my leases I learned a tough expensive lesson about flushable wipes. After a few tenants flushed these and caused major back ups-I have dedicated an entire lease page to things that can be flushed and things that can’t and make them initial.

I would hire a broker to raise equity for you. This is way too much to do on your own.

I wish I knew your market better so I could give you better advice. My first thought was your management, vacancy and maintenance are really high. If you are doing a full rehab maintenance should be minimal. Where I am in NJ/PHL we underwrite with a 4% vacancy and 4% management fee.  How long do you plan on holding the property? 

I’m in South Jersey and have 4 places up for rent currently. I was getting so overwhelmed by the response that I decided to host an open house. In the first 40mins I ran out of applications. I probably had anywhere from 50-60 people walk through. I would say about half qualified. 
A concerning thing for me is everyone seems to have a lot of free cash. I am getting lots of offers to pay a year in advance, pay $200 over the monthly rent, etc. A normal person living pay check to pay check does not have $15,000 saved to pay in advance. I’ve been burned by Murphy’s lock out bam so I’m being overly cautious.

Congrats!!

@Isaac S.thanks I sent that to him, but he said he needs the actual manual. I guess I need to find a new guy 🙄

@Lee Bell this was my immediate reaction. He came all the way from Philly though. Not my normal guy I found him on Thumbtak. Seems legit 😩oh well