All Forum Posts by: Juan Contreras

@Roger Evans @Kai Hodge , how was your experience using this loan? I'm considering this loan option for my SF purchase. Would love to hear any pros & cons about it so far.

@Steve Faucette what areas of Waterbury would you recommend? I’m also looking to purchase first investment in that area.

@Stephen Chatto what areas in Trenton would you suggest to buy a multi-family?? How has COVID impacted your properties with tenants?

@Erinn Nobel interesting. I was on the REAL zoom this past Wednesday with Jason Lopez. They had some interesting things that were coming out which I liked.

I’m interested in the app REAL has as well.

If I’m not mistaken, guests have to log into eXp in order to view listings?

With regards to the recruiting culture you mentioned. Is that the company pushing for recruiting or individuals looking to boost their own interests?

@Erinn Nobel thank you for the information.

Why did you decide to leave exp?

Hi All,

So I just completed my real estate course and just waiting to take my RE exam in NY. I've been looking through BP for some insight on what brokerage to look into to have my license when I came across two online brokerages EXP & Real. Both seem great commission wise, however I'm more interested in the mentoring and guidance aspect to ensure I'm providing my prospective clients with the best service. Also I'd eventually like to start investing myself.  Does anyone have any experience with either of these brokerages? Any insight and advice is welcome!

@Omari Williams 

@Omari Williams FHA loan limits for NYC are as follows;

Single Family: $765,600

Two Family: $980,325

Three Family: $1,184,925

Four Family: $1,472,550

@Shane Austrie How's it going with your search? I grew up in the Bronx and the best advice I can give is to due your due diligence on locations. The South Bronx is going through a gentrification so properties are extremely high but due to its close proximity to the Manhattan, rents have increased from a median of $1300 to $2,500-3k depending on the size. Getting into the middle of the Bronx, you will see high crime rates which lower priced homes. 

 Hi Alex, thanks for the reply.

All of the tenants are month to month and the first floor and basement apartment are connected. Is a physical check done by the lender on the home to make sure the one of the two units is vacant at closing?

Hi everyone,

So I'm considering purchasing a 2-family property which has an empty basement in the NYC area with FHA 3.5% loan. Both apartments are fully occupied and I was going to take the basement so I can keep the rental income. However I've been told that because it's only a 2 family, one of those apartments has to be delivered vacant prior to closing since the basement is not considered an apartment? I thought that since there is a basement with bedrooms it can be considered owner occupied. I'm not familiar with this so can someone provide any information and assistance, it would be greatly appreciated, Thank you!