All Forum Posts by: Gerry Tenebruso

Hi all, I'm in the Philadelphia market and am having a hard time finding deals for 70% ARV. Any advice on software/apps or other services I should be using? And neighborhoods I should be looking in? Happy hunting, Gerry

Sean Blomquist thanks so much for that. Could you offer guidance on how to find hard money lenders? Is there a usual timetable for repayment? How do you estimate the future rents to be able to support the new higher mortgage?

Hi all, Tomorrow I'm closing on a duplex that I had to put 25% down on totaling $40k. The house has positive equity from the start and with a few repairs will be able to refinance in about 6 months for all if not most of my money down. How could I have done better to finance this with as little skin in the game at the very beginning to be able to employ my capital somewhere else for the next deal immediately to grow my portfolio? Thanks so much in advance for the help, Gerry

thanks @Joe Splitrock@Kevin Siedlecki@Cary F.@Gisela C. thank you for the sage words. I think we can all learn from your guidance. Hopefully you can continue providing on the post and perhaps offer some guidance on funding strategies. 

Also Kevin, I'll be renting out and managing the properties myself so I can expect to see a bit of a higher return on the property. I would love to share my excel sheet so I can get some guidance if my numbers look right.

thanks everyone,

Gerry

thanks @Rex Ashbaugh, that's a fantastic point about returns. Sometimes the blinders go on and I go down the rabbit hole. Thanks for pulling me out!

Thanks all! My biggest need is to learn how to finance deals in a favorably leveraged way. I appreciate any and all feedback.

Are credit unions the better way to go to build these relationships?

Rex Ashbaugh thanks for the notes. I did have an opportunity for 3.5% but with $13k in points. To me cash is king and I rather keep funds for future deals and have renters pay down the principal. Also in PA here is no prepayment penalty so a portion of the free cash flow that I'm estimating to be approx. $800 a month will go to paying down the balance. Is that s good strategy?

Damir Kamber the duplex will be about 20 mins from home and I'll be managing it personally. I'll be putting 20% down unless I can find creative financing. The other stats are listed in my prior post.

Andrew Moore thanks for the tip. What's your connection to the founder? Any reason why you haven't utilized their services yet? I have a multi unit I have my eyes on but want to find creative ways of financing.