All Forum Posts by: Dwayne Fritz

Hello again BP community.

I'm new and eager to get into REI for Buy and Hold BRRRR's mainly looking for cashflow in North Eastern PA. I met someone through a meetup group, and they recommend getting my investment business setup before I actually acquire any property. Is this necessary?

He also recommended getting everything setup and the way he said I should do it is.

Getting a Land Trust, putting my S-Corp in that land trust, setting up an LLC in that S-Corp and then when I purchase my first property putting that in my LLC. Each property would then get a unique and individual LLC.

It sounds good, but not sure if I need to do all of that before getting any property. Would anybody be willing to advise me on this?

Thank you,

Hi Zachary,

Welcome to BiggerPockets. I live in the Pocono area about an hour and a half north of your area. I'm looking to invest here and in the Lehigh Valley. Do you know much about your market yet? I'm looking to find partners and connections and if a deal is good would invest slightly further away. I participated in my first REI meetup group Monday (1/4/21) evening and would recommend, if you haven't yet, to join a couple meetup groups. I've made three connections on that first meeting. Best wishes for 2021.

Hi Kyle, 

I recommend you use the search function and check for people in your area. You are bound to find someone. You took the first step in writing this post, so way to go. Also I would check MeetUp and search for REI groups in your area.

Best of Wish,

Hi @Arun Dharan

I'm a newbie to REI, but I lived in Allentown from 2001-2019, now live about 40 mins north. Allentown has some very rough areas, but wonderful areas as well, just like any metro area. Allentown is the 3rd largest city in PA, and it is the largest city that makes up what is called the Lehigh Valley. (https://en.m.wikipedia.org/wik... 

I say all of that because the Lehigh Valley is a growing area. The areas surrounding Allentown are very safe. Bethlehem is a very trendy town, some people are saying that trend might be developing in Nazareth also. Easton, just along the border of NJ has potential, but also some extremely rough areas as well. Whitehall is where a lot of the largest shopping centers are located, including the mall. The Lehigh Valley has route 22 where the Lehigh Valley International Airport is located off of (22 and Airport Rd.) and interstate 78 runs close by which is a major route to NJ and NY. Add to that the PA turnpike northeast extension which will take you to Philly.

There is a lot of warehousing that is being built all around the Lehigh Valley because of those major highways, it has become a huge shipping hub. And its economy still grew in 2020 despite the strict lockdowns the Governor of PA mandated.

Here is a Google search on Lehigh Valley Growth.

(https://www.google.com/search?... 

Just some extra information to consider.

Best of Luck with everything.

Hi Bijanh, how did this deal ultimately work out for you? Are you still active in real estate investing?

Dwayne

Go to BiggerPockets.com 

Menu / Tools

There you can find some calculators. To use them to their fullest potential you will have to become a Pro member. But I do believe you can use the calculators up to 5 times for free. You can also Google search for REI Calculators and find some other places.

Good Luck,

Dwayne Fritz

Hi Bryan, I'm a newbie here too, so welcome. What I have learned recently is that regardless of the current market as a Real Estate Investor it is your job to find the number that will make any property work. Whether that is, lower purchase price, renovating to increase value, or any other means, that's the main job you need to do as an investor. Don't worry so much about the market, try to figure out the proper number you need for a specific property. BP calculators can help a lot with that. Can't help you out with other information on the HEL or HELOC, but you can find creative ways to finance an investment property without having to take the equity out of your house. Finding the funding is probably the hardest concept for newbies like us to figure out early on. Wish I could help more. Sign up and attend the free webinars, be an active listener and take notes, it does really help. Best of luck with everything.

Dwayne Fritz.

BiggerPockets, I'm Dwayne Fritz.

I Have been reading and researching the topic of Real Estate Investing for a couple of months now and ready to dive in. I'm a married father of 3 children, all under 5, and I just got word that I will be a father of 4 before the fall of 2021. I work in the BioPharma world and am seeking to free up my time to invest in my wife and children more.

I live right outside of Broadheadsville in Pennsylvania, which is in the Poconos. Used to live in Allentown. Grew up in central Florida near the Villages in Lake County. Seeking to either invest locally in PA or perhaps in Florida (might move there again one day).

Anybody in those two areas?