All Forum Posts by: Dustin Cramer

Thanks guys

I'm near Harrisburg, and am still in the learning phase.  I'll probably buy something within an hour drive of this area soon.  I'm looking to do my own management to start.  Either single family or small multi family.

I recently found out that property managers and anyone doing work with leases need to be licensed real estates agent in Pennsylvania.  I was digging through the regulations, and it is very cryptic and hard to decipher.  Can anyone in here tell me if I can self manage my own properties in PA without a real estate license?  Is the license only needed because you are working on behalf of another party?

I’m near Harrisburg. I’m not familiar with core 4. I’m going to have to DIY everything to start to maximize cash flow. At least for the first property or two.

Hello, I'm fairly new around here, been doing a lot of homework for my first investment property.  I am looking to have rentals, and I am going to need all of my forms and would like to pre-identify a landlord/real estate laywer in advance.  Is anyone in here a landlord in Pennsylvania?  Can anyone vouch for the Landlord Association of PA or a similar group (they have some forms available for members).  Also, I'm looking at American Apartment Owners Association.  Seems pretty large and they have state specific forms.  I'm making sure to do a lot of research here because I have only been in PA a a few years, and it seems very much a legalistic and bureaucratic system with a lot of extra rules and hidden pitfalls.  Any advice would be appreciated.  Thanks.

Thanks for the info, Everyone.  I ended up finding an agent that can help me out but I won't be committed to if I find something off market.

Hey folks, I'm new to this and have questions about buying without an agent. I have bought two primary residences in the past, both with agents involved. I am looking at buying from wholesalers or maybe something cheap on the MLS. I am going to be doing a cash buy. Do I need an agent or will the settlement company be able to walk me through it? From what I understand, as long as I have a good purchase agreement, that would be the biggest issue. Any idea where to find a good template or completed document? I'm in Pennsylvania if that makes a difference. Also, for stuff on the MLS, should I just approach the listing agent and ask them to represent me as well for a discount? Any other pitfalls I need to be wary of? Any ideas would be appreciated, Thanks!

I would say the crux of my question is: am I going to be able to get favorable financing as an LLC before 2 years, preferably within the first 6 months? I can make these properties profitable investments and show that on paper by using hard money or my own capital, I just need to be able to refinance them right to move on to the next one. I really don't know much about commercial lending or business in general. I've been working for wages for decades. I'm looking at doing a BRRRR strategy, focusing on light rehab, or near turnkey properties.I would probably be doing a lot of my own work to start. I can also just stay in my cheap room that I'm renting for the next 6 months or so as I get it up and off the ground to save my D/E ratio.

I’m currently looking into if I’m going to be able to work real estate into my life. It’s looking pretty good but my big hangup is financing. I’m currently on unemployment, but have some money and can probably secure what I need to get into a property before I go back to work. I’m concerned with refinancing though, even if I get back to working soon.

Even with a W2 job I’m going to be maxed out very quickly in my debt to income ratio. I’m considering buying a cheap townhouse with cash and a small personal loan, and then I would like to refinance this into a loaner term low rate mortgage after it’s rented. The problem is that the banks won’t consider the rental income for lending purposes for two years.

Will banks refinance a brand new LLC with a commercial loan or mortgage if the numbers all work out on paper, especially if it's already rented? This would be the best bet to get the debt away from me personally so I can buy a primary residence. I'm working class and have child support so I can buy a halfway decent house for myself but I will be maxed in debt to income ratio with just one property.

Any ideas on financing in general? Im very new to this.