All Forum Posts by: Heshie Goldfein

I am doing some research into buying a an investment property using a heloc. My question is should I use different guidelines or analyze as I would if I was doing conventional financing? I am very nervous about doing it so I want to be very sure about the deal I would buy.

Hello everyone, I am an investment sales broker in nyc and I also have been investing passively with a syndicator for the last few years which has gone fine. My question is this. In your opinion would it be a better strategy to invest passively in a market like Brooklyn which is appreciating very rapidly average returns of 10-20% cash on cash. Or to invest in low income neighborhoods in Philadelphia and buy 2 family houses making around 20%-30% but not much future growth. I like the idea of building my own portfolio but I have limited access to capital and I don’t want to have a lot of partners to worry about. Any insight would be greatly appreciated. Heshie

thanks!

I have an opportunity to buy a package of 2 duplexes that are attached. The problem is I only have the capital to buy one. I feel like buying only one I am leaving something in the table. The question is how can I negotiate a deal to buy both possibly with seller financing? I really want both and I'm not interested in bringing in more equity partners. I would rather buy just one. If there is no way to buy both is there a way I can put both into contract and flip the second one without it being a conflict of interest? I don't want to screw up the deal so I'm prepared to just buy one but I want some opinions if there is another way to do it. Thanks in advance A bit about the deal Purchas price-75k each Rent roll- 4 tenants paying 700 each (below market) probably can bring in 8-900 Taxes-1200 each Insurance 2000 And I am putting another 1000 into the deal for misc expenses. Arv is around 150k each will probably need 50k in rehab when tenants leave. They are planing to stay long term. Can get students to rent here. Thanks for any ideas or opinions or criticism Heshie

I'm definetly not against a turn key property as long as it's a good cap rate. Have you had any issues with the neighborhood? I hear a lot of bad stuff about N philly but I never did any work there so I really don't know much about the area other than the bad rep it has. What kind of cap rates do you get there?

im from philly suburbs so im very familiar with the different neighborhoods. i worked on alot of duplex triplex and fourplex properties in university outskirts pretty much up to 52nd st. i love those kind of properties but they are too expensive for me. what areas do you think can be profitable in west philly between 10-30k? im not interested in north philly. theres too much competition around temple and the market doesnt seem to be improving at all. 

looking forward to hearing your thoughts.

heshie

I am waiting to refinance a deal that I am a small partner in in queens Ny and I am debating what to do once I get my refi money. I get 10% cash on cash which is great but I don't have any part of the management or decision making of the property. I am considering to invest in a small single family rental in Philadelphia or maybe north jersey. but I only have enough cash to invest in high risk neighborhoods and I don't think I have enough experience to know what will be a good deal in terms of evaluating the risk of the area. What advice can you give me? I really want to start building my portfolio rather than just being a silent partner in other people's deals.

Thanks in advance any advice is greatly appreciated.

Heshie

loking forward to coming

my experiance in the industry is mostly on the management side. i have worked as a project manager/general contractor for my familys house flipping business for about four years, i was responsible for all of the renovations of the propertys and i was also involved in the management of the rental properties.i have also managed construction projects for investors here in brooklyn.currently i am working as an agent in brooklyn real estate firm. i also just invested in a multi family building (16 units) but only as an investment so i didnt gain allot of experience from that since i was only a small partner in that venture. i have a good understanding of the real estate industry and i am trying to learn more about the finacial aspect of it since that is the area i have less experiance in.

what would be the best way to become familiar with a new area that i am considering doing investments in? i live in brooklyn ny and i am extremeley limited to capitol. i will more easily be able to do smaller cheaper deals somewhere nearby like trenton nj or newark nj. i know people are flipping down there but i am not familiar with the areas at all. i have alot of experiance working in the philadelphia market and dont mind to commute but i know down the road i will become to busy to do it on a regular basis and will lose focus. i like to be very hands on and would not consider doing investments somewhere im not able to drive to on any given day just to check on things.

thanks for all your input.