All Forum Posts by: Jonathan Emery

@Rich Johnson 

Wow my phone changed a few of the words in the last post 

Hi Rich

I don't have a title company to recommend right but I can help by letting you I am a member a will be co-leader of a REIA group in lehigh valley. Please connect within you want more information. I the mean time I'll ask around

Jon

@Leonard Bradley 

Hi Leonard,

I'm glad you are interested in the group.  Just connect with me and I'll give you the information.  Do you come in the area often?

Jon

@Michael Cornell 

Hi Michael.

Welcome to BP. I am in the are as well. You should look into visiting the local REIA group to expand your education as well. I can provide some information to you for the one I attend if you would like.

Jon

@Mark Ferguson 

Hi Mark,

I know this is an old forum but I thought I would dig it up before I created a new one.  The thought of refinancing still crosses my mind.  I guess now I'm wondering when is the right time to do it and if so how much to try to refi for.  I currently have a 30 year fix on a 3 unit and owned for 10 years.  One lender told me to never refinance it because its a 30yr fix.  This sticks in my head.  I know if I refi that I would get a commercial loan and wouldn't have as long as fix if any.  (correct me if wrong).  A lot of investors refi to get their money back and preferably more to reinvest in other properties.  This is how I would like to use the money.  I keep on wanting to make sure that I will still cashflow on the property after refinancing so it can hold it's own.  I would believe that the cashflow will be less because there will be a higher loan.

Is there anything else I should be thinking about when refinancing?  

@Michael Quarles 

Michael, great article and podcast.  Thank you

Thank you for all of your advice.

@Shlomi Mor 

yes I do invest in Allentown.  I also do have a property manager.  You can connect with me i'll be happy to share their information.

@Shlomi Mor 

@Simon W. 

Hi,

Linden St. can be a good area.  Linden is a long street.  It has it's areas where it can be bad and good depending on the block you are talking about.  It really depends on what you are able to handle.  Everyone has there own niche.  Decide what that is and stick with it.  

I started with a simple yellow letter to absentee owners 3-5 bedroom and chose Equity %  40-100 on listsource.  I had great responses except they were all wanting to sell retail.  My guess would be they have no motivation yet and if they were to sell now they would retail because of all the equity they have.  I chose this equity group hoping that if they were to sell then may consider some kind seller finance or subject to.  I did this for a month now and I'm getting ready for the second time around to send them letters.  I know this is suppose to be a 6 month run for a list of properties.

Was my equity choice okay?  Do I just keep going with this list and possible somewhere a long the line someone will need to sell the property?  Do I need to restructure my list of properties?