All Forum Posts by: Harry Arnold

Hi. I use someone in Matawan NJ. He handles all my deals. He’s efficient, easy to deal with and also used hard money lenders himself. If you want his info, let me know. Harry

Hi. I'm assuming you live, or lived, in one of the units - to get above 80% LTV. If not, please let me know what lender goes that high on rentals. I don't know if you can refi with those numbers. However, maybe you want to try and get a slightly higher appraisal - and get rid of the MI you're probably paying. You'd have to pay for a new appraisal, but it may be worth it if you can save $ each month. And, you'd have a fresh appraisal for marketing the property, if you want to sell it. From my experience, appraisers are a little more generous when it's not a sales transaction. Best of luck.

Hi Jeffrey. I’m in Monmouth county. As Alex said, there are virtual meet ups online. Can’t wait for this pandemic craziness to ease up. Best of luck. 

Hi. I’m in Monmouth county and have been tempted to buy in the communities in Toms River. The low prices got my attention. However, when I ran numbers it usually didn’t make sense with a small profit margin. You may have access to better deals than what I’m talking about. So, it may work out. I think that area is going to continue to grow like crazy! If you can get in there, you may start seeing stuff fall into your lap too. I may talk with the management about if there are any obstacles to renting in the community too. Whatever happens - best of luck. You can always reach out to me to bounce stuff off of too. I love just talking about this stuff! Harry

If you're putting 20% down I suspect it's structured as an investment property - and a higher interest rate. Just graduated? How about owner occupied FHA/conv minimum down - multi unit at a higher price? Spread the payment out with the renters, and keep cash in your pocket for another one.

No funding fee, no property tax, 0 down payment! And, you can get the sellers to pay all closing costs! It's the single best loan out there! I know - I'm a veteran too. Good for you! Suggestion for you - buy it, fix it, refinance into a conventional loan, or sell it. Then use the VA loan again. Better yet - but a multi unit to start, and then a SFR. The possibilities are endless! Congrats

FHA to purchase a 3 unit! That's the best! Good for you! With minimum Down payment, and premium rates - I think you'll do great. I'm trying to free up my VA loan on my primary, in order to use it for a multi family. Getting owner occupied financing makes the deal that much better. For you, you can see the value in a few years and drop the mortgage insurance too, with a conventional loan. Best of luck!

Hi. Without knowing all the details, I’ll assume you’re structuring it as an owner occupied property (5% down). That being said, the same low down payment should apply for 1-4 units. Again, if I’m missing any details - that may be different. Good luck. 

Looking for people that are interested in the similar things - crushing the real estate market, max leveraging, accumulating properties, wealth, and helping others every step of the way.

Me - this is what I do, and I love it. I love talking about it, and every facet of the business. I’ve found out that most people (outside of BP) don’t share my enthusiasm with accumulating properties and wealth! Some say they want to do it, then lose interest, or get busy with other stuff. I’m willing to give away all the knowledge I have, to anyone that’s interested in buying property. However, I haven’t found anyone that wants it.

I flipped a few houses, and had a few rentals many years ago. Life threw me a big lump, and it's taken me years to get back into it. This month is my 2 year anniversary since quitting my W2 job, and doing this full time. I have 4 SFR rentals, sold 1 house, and I'm closing on a sale this week. Cash flow from the properties are minimal to negative. However, Cash on hand has grown exponentially, and my net worth (equity) went from 0 to about $500k. I'm so grateful for what I have - it comes out in everything I do. My financial life has changed so dramatically, it's hard to believe. However, I am not satisfied with where I'm at, and I want so much more!

I believe in the Mastermind philosophy. Two or more people can accomplish more in one year, than someone working alone can accomplish in a lifetime.

Let me know if you’re interested in becoming wealthy, while helping others at the same time.

hi. I flipped a half of a duplex about 2.5 years ago in south amboy. The building dept was easy to deal with, and I made some money on the deal. It’s a great town for people commuting to the city. Good luck.