All Forum Posts by: Louis Siano

Quote from @Denver McClure:

Hey @Louis Siano feel free to PM me if you'd like to talk sometime. We've helped several clients get unsecured loans with different lenders. Happy to chat about it.

 will do! thank you!

Hi everyone!!!

I recently learned a little about unsecured loans and wondered what everyone was using as a go-to bank! I heard there are a lot of sketchy banks out there so I am trying to find a couple that you would all recommend and if I could pick your brain about your experience!

Thank you! happy hunting!

Looking at several hotels in the area that would be good conversions into multifamily with subsidized/section 8 housing.... some of the rooms are less than 200 sq ft with no kitchenettes... What are some of the concerns I should be aware of when looking to do the conversion? How are the zoning restrictions? Is there a big need for subsidized housing? For Contractors... How much on average per room could I expect for a hotel being converted into a multifamily with 1-bedroom units. Any help would be greatly appreciated! 

Doing any type of development deal is not an easy thing to do as there are many different ways to skin a cat... Being this will be your first investment property and you're across the country I'd recommend trying to find a partner with a proven track record of investing in that area. Look at local fbook groups, etc. and you should be able to connect with a couple people. Architects are good to figure out what to do with the land but can be a lot for up-front costs. I am never a fan of selling if you can help it... That being said, sometimes it's not worth the stress entering a brand new market that you don't know a ton about

hope this helps!

Quote from @Lydia Bar:

@Louis Siano any there are specific areas that you would recommend investing in in Springfield , MA? what are the B or A neighborhoods?

 there are no A or B neighborhoods in Springfield, MA... I would consider some areas C+ areas but B might be a stretch... If you are looking for a higher rent in relation to cost it is great. If you are looking for lower cap rates and higher class tenants I would recommend looking elsewhere.

Hi there,

My name is Louis Siano, a lot of the investors in the area call me "Lou the Shoe".... I am just looking to find out who else of my fellow colleagues are in and around RI!!! I would love to connect with you all and potentially do some business with you all!

Let's collaborate!!!

Hi @Jorge Borges, 

Since this post overall not much has changed... Springfield had followed the national trend with cap rates being compressed but I am personally seeing them being opened up a bit more within the last few months but that could just be the winter season in general

@Brandon Ribeiro there is something called a 203k loan that you might be interested which is a loan backed up by FHA and it includes rehab costs as well... that might be something to talk to you mortgage or loan officer about for more information

@Louis Phlips hi Louis! I’m Louis! Lol feel free to give me a shout if you plan on doing business in MA 😬

@Darren Lenick that IS a price per square foot cost that I guesstimated! Do you recommend getting a contractors opinion even though I’m trying to close this deal quickly and trying to keep my margin as high as possible?