All Forum Posts by: Jay Wu

Hello fellow investors, would anyone have recommendation on a reliable handyman to work with? My partners and I have been working with an individual but he has not been so liable as of late. It would be awesome to share some connections of yours. Thank you in advance!

@Conrad Jackson Thanks Conrad, we're doing traditional 30 years fixed and is Fannie/Freddie loan. I will send a request to connect with you.

@Adam McQuiston 10k is the closing costs only.

@Stephanie P. Thanks for analyzing my situation, we are exploring between buying in LLC or on our personal names depends on rates. May I know why can't buy duplex with Fannie/Freddie loan on 25% down? We did submit our individual tax returns for the past 3 years in order for the lender to pre-approve the loan. Though I do agree living far away can contribute to the risk premium, but closing costs still feel ridiculously high to me..

@Account Closed Thanks Russell, I've sent request to connect with you.
 

Hello BP, my partners and I are currently under contract to buy our first investment property (duplex) in Rochester NY. We’re putting 20-25% down on this $130k property. Our current lender came back and told us our rate will start at 4.75% for 30 fixed, we’ll be charged 2 pts and total closing costs less prepay will be around 10k. To me, the rate seem quite high given the recent 50 bps cut and possibly another 50 bps cut on Mar 18th. The closing costs seem higher than usual as well. Does anyone with experience in Rochester agree with these costs? Would be great to hear your opinions and possibly introduce me to better lenders. Thanks in advance!

@JD DiGiacomandrea Thanks for the insight JD. I hear ya, definitely something to think about for this market, seems like the bigger isn't really better when looking at return. 

Hi everyone I'm also trying to get in the Rochester market as well, curious to get your opinion on commercial properties having 2x the taxes than 4 units and below. How is this affecting your return?

Hey @Christopher Petrillo, thanks for stopping by, I will send a request to you to connect!

Hey @Nick Giulioni thanks for stopping by, i will for sure hit you up!

Hey @Jeb Brilliant nice to meet you here. Will definitely need your help shedding some light. I look forward to chat more with you.

@Miles Sparenberg Hey Miles, thanks for the warm welcome! Will definitely continue to chat more with and learn from you.

Thanks for the pointer @Logan Freeman, I will connect with Colin.