All Forum Posts by: Danté Belmonte

BRRRR deal gone so right!

Single Family

4 Bedrooms, 2 Full Bathrooms at purchase

Asking: $75,000

Purchase Price: $42,500 Cash

Rehab: $70,000

Closing & Holding Cost: $5,000

Total Cost: $117,500

Projected Appraisal: $125,000

Cash-Out Refinance LTV: 85% ($106,250) leaving $11,250 in the deal

Appraisal: $142,000

NEW Cash-Out Refinance LTV: 85% ($120,700) taking out all capital invested as well as pocketing $3,200.

5 Bedrooms, 2 Full Baths After renovation

Cash flows $600 per month

This deal turned out to be great thanks to that extra appraisal amount and my conservative ARV I was shooting for. Income approach came in at $144,000!

@Brian Buxton I would love to connect offline! See how we can add value to each other!

@James Purcell I agree with everything James is saying here. I personally know him and he has all around good and sound advice!

@Joyel Manoj

Hi Joyel, feel free to reach out to me. I am a Syracuse investor friendly real estate agent, investor, syndicator and podcast host. I would love to touch base with you!!

I am super excited to meet with everyone this evening. Looks like we will have a great group! Please reach out to me if you have any questions and I will see you all tonight!

Not how a cap rate works. Probably not smart to invest here...

@Brian G. Interested, please send details

@Bryan Fried

Fred, I am a local Syracuse Agent, investor, podcast host and local meet up host. I would love to assist you in any way. Please message me if you are interested!

Our next meet up will take place October 27th at 7:00pm. We will be meeting at 7650 Highbridge Rd. in Manlius at Hunt Real Estate. If you cannot make it, here is the live . This month we will have Bigger Pockets guest Ana Klein Real Estate CPA joining us for a presentation on the tax side of things for real estate. Throughout her presentation she will be taking questions, you do not want to miss this one. After her presentation we will be opening up the floor for anyone that has questions for the group or has a possible deal to present. Lastly we will have some networking. Anyone from Syracuse, Central New York, Utica, Rochester or in the general CNY area is more than welcomed to join. I look forward to seeing you all soon!

Our meeting will take place Tuesday, October 27th 2020 @ 7:00pm at Hunt Real Estate of Manlius. This is a free meet-up!

Topic: Syracuse REI Meet Up with Ana
Time: Oct 27, 2020 07:00 PM Eastern Time (US and Canada)

Join Zoom Meeting
https://us02web.zoom.us/j/8735... ID: 873 524 4499
Passcode: Syracuse

Vincent, there are no locally talented property managers here in Syracuse for small multifamily properties. Only those who claim to "manage" the property but in return just try to collect the rent and take their 8-10% for doing what you can truly do yourself. In order to get good property management in Central New York. You will need at least a 16 unit outside of the city. I am sorry to break the bad news to you.