All Forum Posts by: Dennis Mignone

1.  Yes, figuring around 10%.

2.  Soon in the process, but am also looking for a private lender, in order to be able to do a/some deals sooner.

3. Already have.

4. Agreed, not an avenue for me.

Hi Connor;

Actually, neither.  I'm simply looking to acquire capitol to acquire more rental properties, leaving my current properties out of the equation, (for the immediate future, anyway.)

Hello from NJ;

I have a small portfolio, (4, and counting), and am looking to expand the franchise.

I'm currently considering rental properties in The Myrtle Beach and Sarasota areas, and am looking for PI's, with all rates/payments/terms negotiable.

Thank you for your time.

Dennis M Mignone

UPDATE: I seem to be able to, today.   Thank you.

Tried......still the same.     And I'm using Chrome, and not having issues with anything else.

The last 2 weeks, after I've logged in, and tried to read articles, it re-directs me back to the home/log-in page......I log in..... it just puts me right back there, (I am logged in, as I see my initials in the upper right corner.)

Anyone having the same problem?

My mentors used to live in Cali, re-located to HOU, TX, and have been doing phenomenal, owning properties, construction, Airbnb's, rentals, and their own commercial office bldg.  # 4 market in the country, low prices still, way lower taxes than Cali, and they go down as far as Corpus.

Mr. Texas Real Estate on FB, has lots of posts and great video content, radio show, and info on more about what they do.

Tell Robert I sent ya.  :)

Hi All!

I'm considering bidding on 3 properties, 2 of which haVE no HOA rental restrictions, but the 3rd one does, for TWO years, (and strictly enforced, from what I'm told.) The overall #'s are paying $100+ less in the HOA on the 3rd property, it's pretty much turn key, and rent-estimate is $300-400/month higher than the others, but again, there's that 2 year wait, in order to do so.

Both of the 1st 2 properties are mostly in good shape, but will need roughly $10-15K in reno/upgrades over the next few years.  1 of them is listing around $160K, but with several bids, so am probably looking at $175K, and break even, (for now), as far as cash flow.  The 2nd property is listing at $205K, has no offers, and roughly  negative -$200/month cash flow, (but will make up for that by holding it, equity after market correction, and higher rent), and will need the same roughly $10-15K in reno/upgrades.

The 3rd property is listing for $220K, w/2 offers, so looking at around $235-240K, flood zone ins. $1k, no reno needed, but will need furnace and a/c soon, and cash-flow will break about even for now.

So, what's more valuable/benefitial......... the less expensive upfront, but with $10-$15k in reno, and with no rental restrictions, OR pay more now, and have to add furnace and a/c, with a 2 year HOA restriciton, but knowing after the market correction, I'll make back the extra on equity, and about $300 more on cash flow?

Immediately time/flexibility/freedom, or more $, but have to wait 2 years?

TIA!!!

DENNIS   :)

 

Hello, newby here:  With the current new, "floor" here in NJ, pretty much anything around $250-300K still needs $50K in reno, AND is going at list price, rather than the 70-80% I'd look to get it for as an investor.

I am considering a $149K 1BR condo, 45 DOM, (which I should be able to get for around $125-130K), and $200 HOA. I'd house hack, put down 5%, move out in a year, and with some upgrades over that year, I'd be in at about $135/140K, and can rent it for $1,600-1,700, well over the 1% rule.

I know I shouldn't buy a 1BR in general, but I'm not looking to flip, I'd hold for 5-10 years, maybe more.

Do the deal because the numbers work, or do NOT, because it's a 1BR?

Many Thanks!!!

Dennis M.