All Forum Posts by: Neema Fotoohi

Hey Richie,

Welcome.  I'm also a native NYC'er (living in East Harlem).  Always good to connect with other fellow BP'ers from NYC.

Thanks for responding, Mindy.

I'm not sure if this is the appropriate thread.  I have a podcast topic suggestion I'd like to submit.  Not sure if we have this but it'd be great to have a guest on the podcast that's invested in a difficult market such as NYC or San Francisco (leaning more towards NYC).  

I bring this up because it'd be great to hear how someone got started in a high-barrier to entry type city and how they built their wealth/empire.  

Another topic as an alternative is a guest who lives in city like SF or NYC and they found a way to invest outside of their respective expensive metro.

Would anyone else want to hear this? Thoughts or suggestions?

I have to say you'll definitely want to find an attorney to discuss this with as they will know the in's and out's and what you're entitled to and how the positioning of the lien can affect you.

Just seeing this now, would've loved to have attended.

Let us know when the next one is.

This is a great thread you started Brandon.  For someone who has a really hard time posting and replying to forum threads (I cannot stand sitting behind a computer screen as I'd rather be out meeting people), this just reinforces that this can be a good avenue to make those relationships and get those meetings that'd be difficult to do otherwise.

Good work and keep on publishing!

 I've actually been looking at a few cities in Texas.  And that's exactly what I want to know.  I want to know the numbers that support my assertion that TX has both income and job growth.

I'm looking to invest in other cities and other areas and I want to find out which cities have seen an increase in jobs and an increase in income. 

Does anyone have any sites they'd recommend to find this (other than the US Census Bureau).  Thanks.

Allow me to be more specific with an example.

For example, let's say I have a deal I found where the owner wants $1,500,000 for a 6 unit multi-family (this is NYC we are talking about).

30% down is about $450,000.

I want to be able to calculate what it would cost me if I got a hard money loan/first mortgage to get the funds for the initial $450,000 down payment (assume I have $100,000 I can put down towards this) and then calculate a conventional loan for the remainder.

I want to see if the numbers will work and what my options are for financing for this type of property.

I'm looking to figure out how to calculate the mortgage payments if I have a first mortgage that's interest only for say 1-2 years and then for a conventional mortgage (or if the interest rate changes after the initial interest only mortgage).

Does anyone have a resource or Excel spreadsheet for this or have done this type of calculation before?