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All Forum Posts by: Jeffrey De Los Santos

Jeffrey De Los Santos has started 12 posts and replied 36 times.

Post: How can I refinance a home into an LLC?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@Kim Meredith Hampton Good to know. Thankd!

Post: How can I refinance a home into an LLC?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

I purchased a SFR rental property with a hard money loan under my name and am looking to refinance, but under an LLC. Am I able to do this and if so, how do I go about doing this?

Post: Is it a challenge to rent a home during this pandemic?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@Rafael Martinez any traction on the one you lowered?

Post: Is it a challenge to rent a home during this pandemic?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@David Tyrawa What market do you have this rental in?

Post: Is it a challenge to rent a home during this pandemic?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

I have a home in Easton PA that I am close to finishing up the rehab, so I am almost ready to rent it out. I would like to know if anyone is having a hard time, due to the crisis, in renting out their homes?

Also, due to these currently events, have you had to lower your original price in rent to be able to get someones attention and rent it out?

Post: Analyzing the Easton, PA Market

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@asif baig Im currently not actively looking, because I'm focusing on my first property right now. However, I did alot of driving for dollars and looked for properties on Craigslist. Craigslist is how I found my first property. I do t have access to the MLS, so I havent checked there yet.

Post: Can I do a cash out refi while being unemployeed?

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@Chris Mason Thanks for your reply! I purchased this home with a hard money loan. I am looking to refinance, so I was trying to figure out what type of loan I should look for to refinance under the conditions I mentioned on my original post.

Post: Analyzing the Easton, PA Market

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

Hi @Asif Baig,

I personally am a new investor in the Easton area. I know a lot about the area, as I live in West Easton and am also an Uber driver, so I drive through the in neighborhoods in this area on a daily basis. I recently purchased my first property on 7th st in the downtown area. If you are interested in this market and possibly teaming up, please let me know!

To answer some of your questions above...

First thing is, all the surrounding towns you mentioned are not just towns, but they are actually a part of the Easton area, so please keep in mind that these towns are actually different boroughs within the city of Easton.

If you are looking to invest in ABC class areas in Easton, I would categorize the following areas within these classes:

A Class: Palmer, Old Orchard, Forks, Williams
B Class: West Easton, Wilson, College Hill(Lafayette)
C Class: Southside, Glendon, Downtown

The most prevalent type of homes in Easton are single family homes, but there are also many 2 family homes and some multifamily apartment buildings. Not many large apartment complexes in the Easton area.

In the Easton Area, you should expect mainly low income - middle class tenants. However, I believe you can find quality tenants in Easton, as many of them are working families who are coming from the NJ and NY area looking for affordable living.

Considering I am an Uber driving and have lived/walked through bad neighborhoods, Easton is pretty safe to walk during the day and night, however, I would stay away from walking between 15th-7th St at night. This is the more rough part of town.

A 2-3 BR may go for 800-1300/mo in the Easton Area. Also, I am unsure of any areas that may be a flood risk area in Easton. Its hard to tell considering there are many slopes and hills in Easton. But my guess would be between the blocks of 6th and 7th on Northampton st may seem to be an area where there could possibly be some flooding.

In conclusion, I would say that the Easton area is a fairly decent area to invest in. I personally have not took a deep dive in the area and thoroughly analyzed the market, so im not sure whats the best asset class to invest in, in the area. But I am interested in investing in more properties in this town, as it is a revitalized town and is definitely up and coming. Not sure what the fate of this town would be after this pandemic takes its toll, but as of now I see nothing but good things here.

Please let me know if you have any further questions!!



Post: Hello from Lehigh Valley, PA

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

@Bob Holland Hey Bob. Welcome to the BP forums! I currently reside in Easton and am investing here ad well.

If you are looking for a meet up in the Lehigh Valley, you actually live close to one. They are actually having one today in Emmaus that is ending soon. The host is Garret Rhodes. If you are interested in signing up for this meet up, go to Meetup.com and find it there.

However, if you want to join BP meet ups in your area. They have one the second Wednesday (I believe) of every month at the Breworks in Allentown. Look it up at www.biggerpockets.com/events. Good luck bro!

Post: My first investment property

Jeffrey De Los SantosPosted
  • Rental Property Investor
  • Easton, PA
  • Posts 38
  • Votes 9

Investment Info:

Single-family residence buy & hold investment in Easton.

Purchase price: $35,600
Cash invested: $57,443

I purchased this property as a starter home to learn about real estate and gain experience to eventually acquire larger investment properties, like apartment buildings or strip malls. Im hoping this takes me towards the right direction and although my end goal isnt to invest in single family homes im aiming to own a few to have the experience and eventually sell them.

What made you interested in investing in this type of deal?

It seemed to me like a good deal at a very discounted price, so I thought it would be a nice property for me to start with, so that I can learned the ins and outs of real estate investing.

How did you find this deal and how did you negotiate it?

I found it through craigslist and was able to text message the seller my offer.

How did you finance this deal?

I didn't have any money, so I was able to use a hard money loan for the acquisition cost and renovation cost. I then used an old credit card to pay off the closing costs for the home. This card had a promo of 12 interest free, so I took an opportunity of this and will later cashout refinance.

How did you add value to the deal?

I responded quick and although I didn't close quick, this was my promise in the beginning. I later learned that hard money lenders don't work as fast with new investors.

What was the outcome?

I was able to purchase the home and am currently renovating it. I will soon be looking for tenants to live in it. Although I have been looking for a financial institute that can loan me the money to refinance the home, I will diligently be looking for soon, as soon as I get a tenant in place, because in my situation is hard to get a loan, considering I am currently self employed.

Lessons learned? Challenges?

I learned a lot throughout this entire process, so its hard to list everything out, but one of the strongest lessons I learned, was to be patient and although things don't go as planned, I need to continue working to come up with a counter plan, in order to get the deal done. Giving up in the process should never be an option, so I should continue moving forward until I complete the task I started.

Additionally, one of my greatest challenges was dealing with a hard money lender.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with an investor and a real estate agent/investor throughout this process. They were very helpful in the beginning and guided me the best they could to make the right decision. Without them, I wouldn't have had the courage and the right knowledge to pull off my first deal. They are Dave Ng and Brian Desmarais.