All Forum Posts by: Derrick Alexis

So I’m in the Philadelphia, PA market and have a property I’m partnering on yet the loan amount would be under $75,000; are there lenders who lend on these type of deals in the area or should I look for something else?

Numbers are as followed:

Purchase price: $20,500

Rehab: $50,000 (contractors estimate)

ARV: $96,000 (conservative)- $110,000

@Salvatore Lentini thank you for the advice, when I looked further into it, I see that the vacancy rate in the area isn’t too bad at 3.6% and also homeownership is roughly 66%

I had an estimate of $50k for rehab but that’s give or take. I was more so eager to analyze further because of the purchase price which is next to nothing.

Hey BP community,

So I have a few older mentors that are still very keen to cheap under $15k deals and one was sent over to me as a 1st investment idea in the Pottsville area.

It's a 7 unit apartment building that needs some work, just wanted to know if anyone has any experience? How is the rent market? I've heard that the area is good for cash flow. How well does the ARV work out?

Would leveraging any equity be possible to use a piggy bank sort of speak? I understand that units that are 5+ are evaluated differently as far as leverage being used.

Any help or clarification if I’m misunderstanding or even if this isn’t an area that apartments work PLEASE feel free to share

Thanks in advance,

Pretty nervous

Hey BP community,

Just wanted to see if anyone had any tips or referrals in regard to Gap funding.

A colleague of mines was explaining the idea to me and I was curious as to how everyone’s experience has been.

@John Warren Thank you for your response John, I agree and view the debt in the same manner.

Hey BP,

As my significant other and I draw closer to purchasing our first investment property we find ourselves butting heads on strategies involving rentals.

When renting out a property that was refi’d out of to repay lenders and put into a 30 yr mortgage, what would be the best strategy in allocating the cash flow?

Would it be wiser to pay the mortgage from the tenant and also the cash flow left over and reduce the time frame on the 30yrs? Or is this counterproductive?

I’d love some feedback

@Sara Finley Are you currently still investing in the Philly market? I’d be glad to bring you anything that may fit your criteria

@Lisa Eckman Completely understood, I will direct message you. Hopefully we can clear one another up in regard to the topic

@Lisa Eckman good afternoon,

After reading the threads I just wanted to chime in and ask where it is that you intend/ looking to lend out?

@Javier Santiago no problem, I will dm you.