All Forum Posts by: Amit G.

Got 2.64% introductory rate valid for a year, no closing costs, 10 year draw/ 10 year payment, upto 85% LTV. After introductory rate, it is prime - .25% with a floor of 3.99% variable (discount for payment through new checking account). Settled in 2 weeks. This is a local bank, Centric Bank, in Harrisburg, PA area. They are highly rated bank for small businesses.

Would these issues be considered reasonable/ acceptable to withdraw an offer if I had inspection contingency in place?

Am looking at this triplex which has a good positive cash flow and has a good rental record, with vacancy less than 5%. Its probably in B- neighborhood. I am estimating 10% cap rate, 5% repair and 10% PM costs and have also accounted for 10k in repair costs.  The property is fully occupied and I may not be able to make any modifications at this point but figured it can be kind of a head start in operating expenses account. 

My only concern is that this multi-family is built in 1900s, and may have increasing operating expenses year over year. Does it make sense to buy it? I may not get it for 70% of its ARV. Is there something else I should be looking at or you think as long as its cash flowing, its good?

No apologies needed. I am glad I am able to bring local community together on this platform.

Thanks @David Krulac. I missed the one yesterday, but am planning on attending CARPOA one next week.

Request investors familiar with the area to chime in on the current market conditions in York, PA.  In my analysis, it seems that the market is very saturated with lots of open inventory.  I have an opportunity to invest in "The Avenues" very near to the fair grounds.  The unit is zoned as RS2 - Residential attached.  I have dug around to get the fair market value but am getting extreme ends of the spectrum.  Any help is greatly appreciated. 

@David Krulac@Christian Bors @Cooper Bert

Absolutely agree with Will here.  Even though I am starting out in this area, I am all about designing and making the things right so it enhances user experience.  I guess it relates to what you are asking.  Would you rather want to be recognized for your beautiful work or an average Joe.

I disagree with some of the members here who only want to get in to make quick money! 

@Tom S. Understand!  Thanks

Thanks @Andrew Postell. I shall try there. In general, could you enlighten me on the terms of private lending?

Starting out and looking to establish a long relationship with Private money lenders local to my area.  I don't have any concrete leads yet but as they say there is no harm being proactive :).  Generally, what all are you specifically looking for when lending your money?