All Forum Posts by: Joe Nagle

Yup that's 100% accurate. I had to pay 1% for the LLC and 1% for me personally. I know it leaves a sour taste in your mouth, but I would still do it. I purchased a property for 95k and about a year later it appraised for 215k. That's what I had to pay 1% each way on. So 4300 bucks total.

Hey Shante Gaines welcome to bigger pockets. This is an amazing community, that has helped me grow my RE business to 42 rental units. My opinion is take them out to lunch or coffee. I did that to my mentor about 5 years ago and it paid off well. Maybe even offer to work for free for a short time to learn his/her role.

Hey Joe, I would like to gather that information also if possible. And I actually use firstrust bank at the moment, going to start adding more properties to my loan in the next few weeks.

Walter Roby jr Diane G. Recently purchased a property in Bristol Pennsylvania. 3 bedroom SFH with a basement for 62k. 10k rehab for a total of 72k currently renting for 1500 a month which is just over the 2% rule. It's in a C area, and by no means is it a full time job managing yourself. If you do the rehab correctly, that should minimize the service calls. These deals are out there, just have to dig a little deeper.

Have you guys had the chance to meet up? I'm an active investor in the bucks county area with 20 rental units at the moment. I would love to network with other local investors to help each other out. I'm currently looking for another MFH in bucks county. Hope everyone had an awesome Christmas.

Congrats. I'm located in the suburbs of Philadelphia and recently purchased a house in Kunckletown ( 18058). I was also having problems with finding good reliable contractors in the area, and would also drop a few of my guys off for a week at a time. I currently have 14 units I rent out in bucks county, Pa and wanted to get into the "vacation rental" market. Thanks for the info and if you're purchasing anything in the area I would like to network.

Hey Robert welcome to BP. Good move on choosing RE as your future. I'm personally in the Philadelphia market and I'm more into the hold and rent, compared to the flip market. My advice is grab a few books off the internet and read,read, read. Amazon has many that have great reviews. Best way to be successful in any venture of life is 2 things. 1 work hard, nothing comes easy. 2 the least mistakes the bigger the profit, no one like to work for free.

Hey Guys,

The lending part of it isn't hard at all. I have several potential clients that are interest in funding. I already started a finance company, I just need to hammer out the legally part of the "private" investing ( contracts, background checks ect.) I would like to stay local though (Philadelphia/surrounding areas), to help this economy and to take a more "hands on approach" viewing houses, meeting cliants.

This is all great information! Thanks Everyone!

I am currently an investor in the Philadelphia market. I have several rental properties paid off and was Interested in refinancing them and loaning the money at a higher interest rate. How do I start? What are some thoughts about starting this new venture. Thanks for your insight.