All Forum Posts by: Andrew T.

im looking for a 4 unit too. im near weehawken

Thanks guys. This is my first deal so i've been pretty conservative by plugging in worst case scenario numbers, to the point where monthly cash flow is close to 0...

BP - 

Looking to purchase a few out of state rental props and the owner is giving me the option of owner financing. I'm crunching the numbers and have a few Qs - 

1) what closing costs am I looking at when leveraging owner financing? is there a rule of thumb estimate %?

2) seller wants me to re-fi out after a few years, is this normal? This doesn't sound ideal for me in a rising interest rate environment.

3) please provide any advice you have when comes to using owner financing, things to watch out for.

Many thanks

@Joseph PlatyanPlease DM me, I need a quote.

Folks - anyone know lenders in philly that will do <25% down? I am not looking to live in a unit.

@Greg Moran Hey Greg, all 3 are owned by one owner and he/she is looking to sell as a package.

Hello BP,

I am a new investor looking to buy a portfolio of 3 condo units in the same building in center city. I am running my numbers and have trouble estimating insurance since I am not sure do I need 3 separate insurance plans(HO6) or 1 to cover all? Also, how would taking out a loan work, will I need 3 separate loans or 1 for the full amount. Thanks in advance.

I work/live in manhattan and grew up in philly as well. Also new to REI, let's connect.

@Miguel Jauregui thanks this is really helpful.

can anyone from ft lee or cliffside park chime in?

Hi All - For those of you commuting by bus to PAB, what are your times like in the morning/after work? What are times like with no traffic, minimal, worst case, etc. Looking to get perspective from those in bergen county towns(ft lee, edgewater, etc.) this will help me decide where i want to purchase, thanks! Also, are there express buses you can take on weekdays?