All Forum Posts by: Andrew Rosenberg

@Danika Jeanton Don't waste a second with Big Banks. Suggest you network like crazy locally and find an investor-friendly community lender that will consider the income producing asset - especially if property purchased has an existing/documented paying tenant.

@Devin Monroe Am I correct that far and away your biggest monthly expense is financing? I would suggest House Hacking first and the move up to SFH or skip MLS entirely and focus on deep discount off-market deal (lot more legwork, driving and networking) but you'll need to really drive down purchase price to lower mortgage. Good luck!

@Maya Gorski PM me because I'd like to ask you questions that are too personal for forum. Not a broker, lender, etc. just a fellow little fish that's talked to a lot of realtors and I've never remotely experienced what you've described. Cities must be very specific if you mean $60-$150k purchase price, that excludes huge swathes of the country.

@Maj Valero So many articles re: Cleveland on BP, its a prolific post subject. Really suggest you run a search and pour through the cleveland posts.

@Blake Thompson Welcome to BP. I'm familiar with Couer D'Alene. David Clinton has been very helpful to me and he lives in CDA. Suggest you reach out to him. Northern Idaho to my knowledge is very hot right now due to CalExit.

@Jack C. In my limited experience Zillow has consistently been 20% higher than even a rough comp has been. Have "Joe Public" look at the ZenEstimate range - it's usually so wide that you don't have to be a statistician to realize its uselessness. Good luck, a lot of people think numbers on the internet are somehow legit if the website is pretty enough.

@Jennifer Torino thanks for clarifying and not taking offense. Sorry I misread. Seems really aggressive for a first deal but good luck. I really respect you for having the courage/humility to post on BP and deal with the challenge. Hope it works out.

@Matthew Irish-Jones Beat me to it. Loaded question: "max" without weighing risk-reward profile nor accounting for risk tolerance makes for a dangerous question.

@Jennifer Torino I really hope I'm wrong/overly paranoid but how well do you know your "friend"? Sounds like you're being fleeced. Contractor is profiting at your expense - your story doesn't mention "surprises" that would involve already being so over budget. Shocked a mentor would lead you to believe no capex for years and 0% vacancy if you've run the numbers like you describe - unrealistic. Please don't take offense, and I genuinely hope that it works out for you. Hope to see a Positive Done Deal Diary from you in the future - good luck!!!

@Kendall Staggs exactly! My first thought was to tell the orig. poster to research tax deprecation schedule. Just make sure to depreciate building, not land.