All Forum Posts by: Kunal Mishra

@Robert S. what cities in particular do you think would be good for a $50k per unit investment, I am hearing Gary, Hammond, Dyer (from you) are these good for a start

@Seth Williams Do you know if Align Credit Union would lend in NJ, PA and any other states in the mid-west. Do they do rehab loans? Would appreciate a contact, I can PM you. 

@Tucker McCarthy I know this is an old post, do you have a contact at Franklin Savings Bank, I am looking for 20% down on a 2-3 family in NJ and PA. 

@Arsen Atanasovski

Try getting in touch with @Jerry Padilla he is from prime lending and does small amounts in Ohio and many other states.

I recently closed two loans with him and his am very happy with how everything went.

Thanks

Kunal M.

I second @Joe P. and @Stephen Kappre

You can also look at cities like Burlington, Collingwood, Sicklerville

Please don't miss on the high taxes. You could find a house which looks good on the price and after rehab cost but just taxes alone can kill the numbers. The refinance would also not be worth . So just be aware.

Else I think you can certainly make it work.

Thanks

Kunal M.

@Ryan Mainwaring

Great work and nice BRRRR for motivation.

I am surprised that you mentioned driving park as a favorable area, while I was recently looking in that neighborhood was told by a couple of PMs that it is many years far from any gentrification.

I think you are in good shape because Miller ave is just around where Driving park begins?

I recently purchased a duplex around 7-8 blocks south of E Livingston in southern orchards and is going through a rehab for long term rental.

Thanks

Kunal M.

All, I wanted to get some idea with the sellers concession on Investment Property's

Can the Purchase Price + Seller Concession surpass the appraisal? also is there a max limit of 2% for Seller concession on Investment properties?
I am under contract on a duplex, where the appraisal came just $3k shy of the contract price. 

So for example: Contract Price was $130k, the appraisal came at $127k; I think I might be able to get the seller lower the price to $127k to match the appraisal. But can I ask for seller concession to cover some of my closing costs, if so, can that be $127k + $2,540 (2% of $127k) which will be above appraisal. 

Or does the new purchase price plus 2% of Seller Concession need to be max at $127k, which is the appraisal value. 

Thanks

Kunal M. 

@Ben Smalley

How to get insurance in Ohio for a house with knob and tube?

@Ahmad Gul

Hello, did you manage to get a good PM?

@Daniel Rivera

How has your experience been so far with Venture Property management company.

Do they also do renovations or only PM.

Any contact that you can share .

Thanks

Kunal M.