All Forum Posts by: Frank Trigoso

Hello BiggerPockets,

Happy and it's a privilege to jump into another state to invest. I relocated to Philadelphia for the sole purpose to fix and flip. I have a  few potential  deals in the pipeline; thus, I will love to raise the volume to increase my chances to close. What areas do you recommend to fix and flip with a budget price of 125k-150k (including rehab cost). The minimum profit is 30k. 

I do understand areas of Point Breeze, Brewerytown, and Fishtown are hot but appears to be overhauled. Philly is made up of mini markets as it each one has its own personality from my insight. Any areas of directions to seek or if you may have any deals it will be appreciated as I believe in the win-win business. Thank you in advance. Happy investing.

@Jason Muenchow Yes, that is a con. One note to consider. When you refinance you could refinance it to your business name. Therefore, your DTI will be low to your personal name. With a low DTI you may still qualify for more loans with the triplex detached from your name. The best part, you may have no more money in the deal but still remain control of the property. Just a thought.

@Jason Muenchow

Have you consider refinancing the property? If your property is Market Value 375k a bank will refinance at LTV 80% which is 300k. I don't know how much you owe on the mortgage. Thus, this will eliminate the PMI, and you could slightly raise the rent to, to still earn about the same ROI. The beauty of this is that you will no longer have money in the deal, but still control the property and still have cash returned back to you from the refinance. You have a nice margin to work with it appears. Congrats on the fourplex.

@Maggie L. I will message you now. Thank you. 

Thank you @Max Householder

@Account Closed We could help each other maybe. I have been extensively looking at that market. 

I love Hialeah and Kendall. I was born and raise in Kendall. The world's largest mall will be built in 2022 near Hialeah (Miami Lakes). Anyone interested to discuss real estate feel free to message if I could be any value to you. 

Hello BP Family,

I am due to fly out to St. Louis within 12 days. Any recommended realtors or property management in the area? I would appreciate the referrals. I am in it for the win-win business.  Thank you in advance.

I was in the same position as you. I had to obtain two quotes from roofers, show proof of funds, and sign an agreement stating I will fix the roof within 45 days, and another inspection will be done. Majority of times; there will be loopholes.

@Jason Luongo did you ever purchase the wood frame property? If so, what convinced to purchase the wood frame property? Thank you in advance.