All Forum Posts by: Angela Miller

@Rob Sawyer Thank you so much for the feedback, my husband and partner are going to make it put there in the next few weeks to get a feel for the areas and chase a little wanderlust. @AlexisBliss has been amazing to work with and I hope we can close on some options. I think we probably over improve in our market in CA, but we have been successful at the BRRRR and it is easy to force the equity, which we have to or all of our cash for the down would be stuck. Happy New Year!

Hi Rob, I saw this as I was hunting up a potential meetup for my husband and partner who will be flying out to the Syracuse area in the next few weeks to meet an agent and look at potential properties/neighborhoods that were have been interested in. They will be flying out from CA for a few days, but it looks like you only meet on the first Tuesday of the months? Do you know of any other area meetups? Thank you and happy new year! 

@Ronald Starusnak Thank you so much! We had a plan to go after some smaller properties aimed at either picking up a multi family unit or a single family unit and working through the rezoning in. I am not sure how common this is, but one contact said it could be done. While it looks like most of the properties need some TLC, we have run into a few that are already being rented, so I was hoping that the financing wouldn't be an issue. Does your team specialize in the student area or have a marketing approach to that area (SU, SUNY, Crouse)? I know that there is the potential for a higher turnover, but it also seems a better approach, becuase worst case, you only have one of three or four rooms rented, it would still cover your costs. I have done background on the area but many people have seemed a little hesitant to say "hey, steer clear of a particular area" so I am just relying on the crime stats. I do have some concerns about taking over a property that is currently rented, especially if I know we would likely let the lease run out, and then want to do some upgrades and renovation to make it a more attractive rental. 

Thank you for so much info, I really appreciate it, I think the market there is prime for outside money, it is just a bit of a jump and things are going quick. I came up with a list of a dozen on the market and went over them on the phone with an agent, and half were already gone by the time I had done my analysis. I'll have to get of California time and into the NY pace for sure!

@Brett Hearn

Hi All, Hope everyone is having a great holiday season and are making deals and money wherever you are. I have a few interest areas for the Syracuse market, which would be the first stab at long distance real estate investing. I am situated in Central California, so the financing out here is a bit different. Out here, you can't get into conventional loans on amounts below about 65K and frequently we end up paying for an appraisal and the underwriter can come back with the determination that the property can't be financed due to condition. I see quite a few available properties in the overall area near SU or within about 10 miles, but am a little hesitant to believe that some of the properties can be financed. I am pre approved and was told I am good to go for a 30 year conventional but from a California investor, this is a little crazy. I was told the lowest loan they would go for is about 25K so this is just really different from my normal comfort zone. 

Any input, thoughts, experience and/or other musings on the CNY area, best (or worst) neighborhoods, financing or contacts would bring extra love from Santa in CA!

So listen to the BP podcast with Hal Elrod, who wrote an amazing book "The Miracle Morning" I have 2 boys, ages 1 and 2, and work full time from home, and have found the who "rudder of the day" makes a big difference between the good days and the great days. I also randomly work from about 1-2 am over my VPN, and just bought my first BRRRR property.

@Tony Castronovo, I am in the middle of the reno phase on our first BRRRR and the end ARV figure is definitely keeping my brain pacing at night. Would you be willing to share your example of your document for the appraisal document?

@Jared Bouzek Thank for for the clarification, this helps quite a bit. 

Hi all, I am listening to the Podcast 233 about DFE and was wondering if when you are purchasing with cash, does this mean straight cash, or did anyone use a hard money lender? We are looking to refi after the BRRRR with a hard money loan of 77K, but it sounds like we will need to educate lenders on this provision, but wanted to float the questions to the smartest real estate minds on earth! Thank you so much!!!