All Forum Posts by: Jeff Puciato

I recently came in contact with a RE investor who is farther down the line in his career than I am. When I asked him where he gets his deals from, he said wholesalers, word of mouth, and bigger pockets. It surprised me that he found a good BRRRR deal on a DM from a forum post... so here I am (because why not open up every avenue I can to reach my next goal. That goal being a 4-12 unit BRRRR in CT. Essentially anywhere other than Hartford or Waterbury. More than happy to partner up or pay for the deal itself. Either way I'll find a deal... it's just a matter of time.

 I agree with Chris, need more info and beware of the people messaging you on the side. 

Always get multiple opinions

I am looking for mainly books however anywhere where I can read and learn more about complexities of debt structuring on real estate. Large multi, refinancing, seller financing, avoiding taxes through the more complex debt structures. I have the basics down but I need to improve my knowledge 

I have some free time in-between buying properties and I like to use it wisely. I need some recommendations on books regarding basics of starting a business (beyond a simple sole proprietorship), personal growth/values. I've read several multi-fam management/acquisitions, financing books. 

Thanks for the advice 

Yes

I would avoid rent to retirement, but thats just me. I like to understand the entire process and rely on myself instead of others. Considering a property manager is a good idea. Just do your research on good ones in the area you wish to buy in. Call other owners and see who they use to manage. If you buy in an area near me, I can recommend someone or if it's nearby, I'll manage for you. This way you own the property, are more connected to the deal, and free up your time by hiring out for property maintenance and vacancy. 

I'm still new in my investing career but if I was in your situation, I would try to make your current duplex more profitable by doing some improvements, getting that below market rent higher. While doing this if you can reduce your expenses and live below your means, you'll be able to save more money. 

I'd put the second home on the back burner for now. You can value add your current house, cash out refinance (or heloc) if you have enough equity, and use that money for your new house. 

A way to get rehab money for the new home is to do a 203K rehab loan, through FHA. Lastly, if you had an extenuating circumstance such as a baby on the way and you need more space, you may be able to get another owner occupy loan.

DM for more advice/questions

I want to build an extra 2 units (each 1bed, 1bath)on my property that consists of a large level lot and a 2 family house. I want it to be a detached dwelling. Issues I have are, not enough capital to pay cash and already having a mortgage on existing property. Options for financing hard money, construction loan, HELOC in near future. My question is, can I do a construction loan with an existing mortgage on the property? Would I need to refinance my current mortgage once build is complete? thank you in advance