All Forum Posts by: James Reyes

I would be interested in connecting. I live in Buffalo, NY but looking to invest down in the Atlanta region. 

@Michael Le, beautifully said. Not that we should chase Grant, because one should find what works for them and meets their goals, but there's a reason Grant is making headlines. He chose not to be common. And I am sure he has some risk measures in place. At the end of the day if we are in it for cash flow and the money is in multifamily, the odds of weathering the storm are pretty good. 

@Albert Bui, would you happen to know any lenders servicing NY (Rochester/Buffalo) who are investor friendly when it comes to using the VA loan? I recently bought a 4unit. I plan on refinancing using the IRRRL to get a better interest rate and also remove the "1 year occupancy contingency". My problem though is going to find the next multi unit to live in with support from a lender willing to help out. Every lender has there thing. I have 1 that will use rents regardless of time, but says there's no way ill be approved for a second multi unit . I have another lender who thinks my plan is great, but can't use my rents until I have 2 years of rental income, so that hurts me in terms of what I can "afford" based on just my JOB salary. Any help would be great.

@Aisha Mackey Delpratt I currently reside in Buffalo, N.Y. and I'm under contract for a 4plex in Lockport. I'm a veteran so I used my VA loan eligibility. Still trying to understand all facets of a VA loan and refinancing options to put my long term plan together. If you want to talk about it at all let me know. I am also a realtor, so if you need help hunting a place down feel free to give me a shout.

Thanks @Chris Tracy! I will give it a listen. I just finished reading your book! Loved the to the point message of  to take action!

Thanks everyone for the input! It's helped put some things in perspective. Very much appreciated. @David Thompson, I will send you a PM. Thanks again!

Thank you @Joel Owens and @Michael Le for the feedback! Joel, I am not familiar with the phrase 'spend through rate', can you give a quick explanation? For both of you, and maybe more towards Michael, I understand I need to bring value for those to bring up money.. What would your take be on the guys like Michael Blank, Peter Harris and a few others who teach investing without needing money or a life full of knowledge? Obviously the trade off is bringing the deal and having enough knowledge to know you have a deal. But they seem to give hope to guys who are willing to put the time in, but may not have the personal financial background and are looking to get started. Which is where I stand. I have access to some deals from my own brokerage and plan on networking with other brokers beginning this week. I have put the time into learning and will continue to grow in that aspect. I still lack a mentor which is next on my list. If you guys could recommend someone that would be great! I know a mentor can be key when starting off and even finding new mentors as you grow are still vital. Thanks again for your input!

I have spent a great deal of time to learn about apartment complex investing and the art of syndicating deals.. I also am a residential real state agent, which is done in addition to my normal 9 to 5 JOB... I also am married and have 2 little girls. So, I have been spreading myself thin... The biggest reason I got my real estate license was because I did see it as a viable business option, but also because of limiting beliefs about getting myself going with investing. My funds are limited, and I am tired of working a normal JOB but feel stuck. I know at this point I need to just focus my attention after work and go. I thought I would see if any experienced investors would weigh in on why or why not I should do one or the other or try and make both work. Any feedback is appreciated. Thanks!

@Kerry Boyle and @Joseph Gozlan, great advice. Something I will take to heart myself. I have been sitting on the sidelines listening to podcasts and reading books. I guess one can only do so much of that before they decide to do it or move on. Any light on the Michael Blank approach to looking at loop net (he refers to them as dead deals), and using those to practice underwriting, and putting together sample deal packages to take to investors so they can see your ability to structure the deal? Or would you recommend just hitting the ground, find that great deal and then meet with investors?