All Forum Posts by: Andres Ospina

 Awesome. Thanks for sharing that. I’ve been looking using the travel search and noticed a few MTR in my area that included utilities and are furnished but they are listed at prices below market rents. So it wasn’t making sense to me. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $365,000
Cash invested: $275,000

Converting this 3 bedrooms 2 Fb multi family into a 7 bedrooms 5 Full bath multi family by adding a second level and a 15x20 addition.

Mass text is a great idea. What does your text usually say? Is the text message your first touch? 

Looking to hear what some investors, wholesalers, agents are doing to generate some seller leads for investment properties?

I have been doing direct mail marketing for several years, we send approximately 6,000 letters per year and that gets us 1 good deal a year. I want to find another source to generate leads and curious to see what other investors are doing. 

You can request these documents now during attorney review process. So you can verify all the information that was given to you at the time of making an offer. Don’t forget to request a OPRA now during attorney review period. Good luck with your purchase!

 Hey Peter, I may have a lender that can help you with that type of financing depending on what you need. Let’s connect 

Just curious if anyone is doing MTR in the north jersey area? My areas seem to be very strict with STR options, but more liniment when they are 30 days +. Wanted to connect with people doing MTR in the North Jersey area to see what their experience is.

 Do you offer construction funding?

I’ve recently came across several properties with approvals to build a 10-40 units. I was just curious what are some of the options on how people fund these projects.

It just seems as a hard money loan wouldn’t be the most cost effective way to do this project. I have yet to speak to the smaller local banks to see if they will fund something like this.

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $350,000
Cash invested: $200,000

Purchased this legal 2 unit multi family home.
Doing a complete gut rehab , adding bedrooms , square footage.
Will either sell it or BRRR and keep it long term.

What made you interested in investing in this type of deal?

Multiple exit strategies and bought below market value

How did you find this deal and how did you negotiate it?

A local agent brought me the deal

How did you finance this deal?

Hard money

How did you add value to the deal?

Added bedrooms,
Square footage, separate utilities

What was the outcome?

Still working on it

Lessons learned? Challenges?

Relationships with agents is key!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Hardnoney lenders, agents and title company