All Forum Posts by: Cesar Medina

Hello BP, 

Right now, I'm looking for a Connecticut-experienced real estate agent who is experienced with investment properties. I'm from out of state, having invested in PA and currently living in NYC. I am slightly familiar with CT and it's communities, but I am preferably interest in seeking for B and C class neighborhoods with strong cash flow multi family (2-4 units). Maybe New Haven, Bridgeport, Waterbury, Danbury? 

I would be delighted to network and get advice from a couple of you.

Thank you,
Cesar

PM I might have someone for you. 

Hey, by any chance did you find a handyman worth recommending? 

Hello Biggerpockets,

I'm currently in the process of purchasing a property and I need to take care of some repairs through a repair escrow 203(b) or 203k in order to close the loan. Does anyone know of any contractors willing to tackle this job in ALLENTOWN, PA (Lehigh Valley)? 

It is highly appreciated as time is of the essence. THANKS!

After a previous post, I have decided to house hack with a FHA loan. I am now currently looking for a multi family property 3-4 units with a livable basement space for myself. I'm aware north New Jersey is super competitive at the moment. Will hope to find an agent with expertise in the following areas of northern New Jersey (Essex,Union,Hudson,Bergen) to help with a Cash flowing property. Please feel free to reach out to me or recommendations. Thanks!

@Alex Deacon thanks Alex, means a lot coming from someone who's been through it.

@Stephen Kunen

Hey Stephen, I just recently heard the podcast(I believe #210) you are speaking of. Which is what made me completely reevaluate my initial strategy of buying an investment property in PA. I’ve been considering house hacking there(PA) but, lenders told me there wouldn't be any chance because of the distance in the commute. I guess Fannie Mae has some restrictions with commute. I've been pre-approved for an investment loan with a local bank, dealt with agents and pretty much only had to close on a deal at this point in the Lehigh valley, PA area. Even for an investment property I found it pretty long just when I went out to see some homes but, I guess when you finally own the property you wont need to travel as much like I was (1-3 times a week).

@Connor Eichman @Ali Joseph appreciate it fellas, seems like at this point its a no brainer to house hack. The only obstacle at this point is finding the right market within my budget and commute time since I only know one market (NYC) very well, unfortunately.

 @Dennis M. I'm assuming NJ taxes is the deal break? or am I missing something else.

@Marina Draper haha, yes I'm pretty much leaning towards house hacking. Just not sure if ill hurt my ROI by staying in a unit that I will potentially barely stay in.(Work)

@Allan Szlafrok any towns in northern NJ in particular I should maybe consider? Im not scared of the "ghetto" just rather not reside in the worst of the worst. 

Hello BP community,

I would like to start by introducing myself a bit. I'm in my mid-20s, I live in NYC and currently work as a property manager for a medical institution that is continuously expanding their real estate portfolio consisting of luxury high rise apartments. As a property manager I have learned a lot from a landlords perspective. Just to name a few such as interacting with tenants, dealing with complex situations, documenting leases, being a handyman and turning over apartments for the next tenant. I sure have learned a lot and my experience has expanded from my job but that doesn’t make me a “landlord expert” by any means. I continue to learn every day and I am grateful for the BP community where I learn something new every day. I tend to over analyze but, now I'm ready to make it happen as there’s no better education than experience with trial and error.

The market in NYC is pretty high to say the least so I've been studying markets outside the area within a 2 hour drive such as:
Essex County, NJ(Newark, East Orange, Irvington)
Lehigh Valley, PA(Allentown, Easton, Bethlehem)
Connecticut( still learning markets)

Now here's the dilemma I'm currently facing which would also define with what market I should pursue. If I go with an investment loan I'll have higher interest rate, closing costs, 6 month reserve, 75% LTV bringing my upfront cost a lot higher than house hacking. By house hacking I'll qualify for owner occupied(FHA,conventional) benefits with lower interest rate and upfront cost, etc. Doing so will eliminate the idea of house hacking in PA because of the distance with it being just over 2hours and 90 plus miles from work. I must say I don't necessarily need to house hack as my job offers me a place to stay for nearly free but, I also wouldn't mind having a place away from work. If I house hack I plan to turn a basement unit into a living space. I won't be staying there all the time which also leaves opportunity to possibly air bnb the unit for the days I'm stuck at work. I plan to make the property strictly rental after 2 years and I have read that places like Newark, NJ have strict tenant friendly laws(major red flag). Which makes me second guess areas such as those.

I really HIGHLY appreciate any feedback as like I said I am still learning.

Please respond with any thoughts or suggestions.