All Forum Posts by: Eric Wagner

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $560,000
Cash invested: $140,000

STR investment

What made you interested in investing in this type of deal?

Cashflow and the ability to use the property.

How did you find this deal and how did you negotiate it?

Realtor and yes

How did you finance this deal?

Conventional

How did you add value to the deal?

Improvements

What was the outcome?

Great space

Lessons learned? Challenges?

Improvements took longer than expected.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes

I found a property of interest and reached out to the sellers agent directly. I am prepared to submit an offer but I currently do not have a buyers agent representing me. Should I proceed? If not, what is the downfall / risk...? Is it advisable to work with an agent from the sellers agents office or is that a conflict of interest? Please advise.

Is there a furniture retailer that offers reasonable discounts appropriate for STR?

I will be refinancing my home and using equity to purchase a STR. Doing so, will allow my to pay for the STR property in all-cash and offers a lower interest rate (as compared to a separate loan) however the lien will be against my primary home. Is this prudent/risky?

I am considering refinancing my home and do a cash-out refi. Can someone recommend a mortgage broker? 

When creating an LLC for your real estate business (i.e. Company ABC LLC) should you have a separate LLC's for each asset you acquire or does the umbrella business, Company ABC LLC cover all the assets you own? What is the best practice?

 Thanks

I am looking for a STR proforma template. Do you know where I can find one appropriate for a rookie investor? I found one in this article but found it very confusing See article. 

Thanks.

Hi all - I am a new member to BP. I hope to make my first real estate investment this year in the NY/NJ area. Still trying to determine the best market for 4 or less units long / short term renters. My strategy is to use an FHA and 203k rehab loan. My son, who recently graduating college, will live one of the units. Any thoughts suggestions are welcome. Thanks!