All Forum Posts by: Eric Calabrese

yes i got my approval like a week ago, I've put a few offers in this week and i think i finaly got one and it's significantly less than what i can get as a loan. So i was stuck between trying to maybe squeeze another property in if i can or just wait till next year when my property is performing rent wise and do the process over.

hey biggerpocketers, my question is this ifi have a pre-approval for 150k and I'm in an area that typically isn't multi-family could i in theory use my pre-approval to grab more than one property? Or do i have to do the pre approval process over again next year for a new property?

Thank you for your response and advice, i guess i would like to hold and rent. My current goal is to get to 100k passive income a year by the time I'm 33, (I'm 22 now)where i can work full time in the real estate field since that's where my passion rests.

hey everyone, lately I've been trying to get my first property putting in offers in areas with great returns and maybe 5-8% COC return.. But truthfully in a hot market rents don't align with price. However I'm finding way better COC returns in areas that aren't really appreciating. which you you prefer? Mind you the vacancy percentage is low in the area not seeing much appreciation too.

hey there, quick question everyone.. Can i go back on a offer that was signed if i have yet to leave any earnest money with the contract?

Hey everyone, getting into a hot market and found a good cashflow property great location fair price. The numbers make sense even with what they're asking. And although I've read making offers a little above asking what would you guys reccomend?

Thank you amazing response.

hello fellow biggerpocketers, i found 2 single families in florida for sale. The numbers all make sense for a nice stream of income. Thing is it was built in 1960 which seems a little old for florida they are pretty ugly which is the least of the issues because i feel i can make them look a lot better. I'm more turned off by the age. When going for a property would this situation sound like a bad idea for later on sale?

thank you guys! Just started looking into local lenders. I appreciate your timely responses.

hey fellow pocketers,

So I'm finaly prepared to purchase my first investment rental property (out of state) i found a state i like and am familiar with see a few 2 families that i like.

Long story less long i go to chase to try to figure out my ball park range and they told me a lot less than i anticipated. Because they want 25% down and 6 months in reserves. Now I'm kind of in a hump should i adjust and pick a different state one that i can afford? Or would a local bank in that state possibly loan more? Just looking for options.