All Forum Posts by: Christopher Lombardi

I always liked the HP all in one officjets.  The 6700 and 8600 series are both really good and never have issues.  

@Julie Rogers it really depends on what you are looking for.  The more expensive homes provide a lot more capital appreciation in good markets than the less expensive homes, however, usually not great on the cash flow side.  With that said, there are great deals to be found in any market.  I own a good amount of homes that bring in 4k to 6k per month in rent and they turnover very quickly.  A lot of people nowaways just want to be renters and not have to worry about home ownership, even at the upper income levels.  

My advice is to look at each property on a deal by deal basis and do what works best for that individual property so you can maximize your return on investment.  

@Lane Kawaoka Thanks for the list.  I didn't realize Michael Becker had a podcast.  Looking forward to checking it out. 

Congrats Peter... now go hustle and make big things happen!

Are you confident that the bank will come through and you can close? If so, try offering her a small amount of additional non refundable deposit in exchange for an extension. Tell her if you can't close by the new deadline she can keep the money. Don't even bother putting it in escrow. Let her cash it right away since its hers either way. It's a no lose situation for her. Just make sure you give yourself enough time this time around so you don't have to make her any additional offers.

@Filipe Pereira, I am assuming this is a great deal and that's the only reason I recommend this, but somethings your credit card can be cheaper than hard money financing. Pay off your credit card completely, then call your CC company the next day and ask for a reduction in rate. As long as you never missed a payment, they almost always reduce it and you might be able to get them as low as 11% APR. Then you can get an advance at a decent rate, and pay it down as money comes in from the rental. You can also try to increase the value of the property as soon as you purchase it and try to do a cashout refi. Use the extra money to pay off CC. Best of luck, and looking forward to hearing how it goes. Chris

Welcome to BP, @James Maglio. Florida laws make it a great place to invest, besides the fact everyone is moving there. I would start small for now with a single family house or two just to get your feet wet before you jump into multifamily. You may be able to get better returns on SFR as well considering how hot the multifamily market is. But either way, best of luck to you.

@Joe Fairless, thank you.  I was wondering about that.  

Hey @Joe Fairless, thanks for the good info.   When you purchase a deal of that size, does the bank still give you non-recourse debt?  Or do they require someone to guarantee it?

Hey @Jessica Bonelli,  For your first deal, I would not try to compete in a market where houses are selling in a matter of days.  That market is probably too hot and you're not going to make money there.  I would look to towns nearby that are less expensive and where things seem to be happening.  Is there new development going up?  New stores moving in? A lot of homes being renovated?  Those are the markets you want to get started in because you might find a home that doesn't need too much work, and for a good deal.  

As for the load bearing wall, usually if the wall is parallel to the joists above it, it is not load bearing.  If the wall is perpendicular it is much more likely to be load bearing.  Hope this helps.