All Forum Posts by: Elijah Berg

Hello everyone I am turning to the BP community again for help!

I am currently on the journey to purchase my first property at 19 and have hit a roadblock. I am going for a house hack with Fannie & Freddie conventional , After my 4th offer was rejected going over listing I asked the listing agent for some additional info and they stated that for this property there were 42 showings within 4 days. 1 cash offer, 1 commercial, 15 conventional and one FHA with 9 waived inspections, 11 escalation clauses and 5 appraisal gaps. for the previous 3 offers it was Identical.

I don't want to be stuck waiting on the sidelines so with the market being this hot I am a little confused about where to go from here, should I start seeking out wholesalers, doing direct mail campaigns, targeting older listings, hunt more in off market or just keep submitting offers?

One of my mentors put me in connection with a colleague of his who is selling a quarter of his portfolio due to retirement. After viewing one of the properties I thought was a good pick. I decided to walk away due to it not being in good condition with bed bugs. But will definitely keep the list in my back pocket

Any and all Insight would be greatly apricated, thank you all so much!!! 

Hi everyone!

I am currently in the process of shopping around for insurance quotes in Upstate NY for a multifamily that I plan to owner-occupy. while trying to pull as much relevant experience/info as I can. Browsing this forum I see a mix of answers suggesting to have the entire duplex shell be insured using a Dwelling Fire (Landlord Policy) and then you would carry a renters policy for your Personal Belongings as well as the tenant. Or due to the fact I am owner-occupying the house then the proper form is normally a Homeowners policy while the coverage for the rented portion would be automatic. Just a little confused about the best course of action I should take in this case.

Any real experience or insight for finding the best coverage as a homeowner and landlord for Liability, Slander, etc. would be greatly appreciated 
Thank you all for your time and consideration!!

Hi Bigger pockets community!

I am 19 years old and coming to the point where I have saved enough capital to start the process of shopping around to find conventional financing for my first long term rental property in Syracuse NY!

Any recommendations before I start making calls to multiple lenders that fit the criteria of these questions below and decent rates would be greatly apricated!!! 

-When do you start using ARV to help one qualify?
-When do you start using rental income to help on qualify?
-Can I have multiple loans with this lender?
-Can I change my title to an LLC eventually?
-does this lender sell their mortgages?

Thank you for your time and consideration everyone!

 Hello Jonathan! would you be able to point out some of the said land banks in the Syracuse area that you have previously used or recommend?

Thank you for your time and consideration!