All Forum Posts by: Mark Navarrete

@Laureano Perez unfortunately I’m not surprised. My property sat vacant for approximately 3-4 months and I kept checking in with the pm like, “how is the search going?” Dude I think but couldn’t prove that my property was rented and the pm was pocketing the rent!!

@Ryan Craig Hello Ryan, I use to own a single family rental in Reading Pa and I would definitely suggest working with a realtor who also invests. No offense to the realtors in this discussion but some agents don’t have a clue how to correctly analyze deals. If you plan on using a property manager throughly vet them. I went through 4 managers in one year and they were absolutely horrible. If you want send me a private message an I can recommend who not to use. Good luck!

Hello @Theresa Reynolds Are multi-unit properties hard to come by in your area? What made you choose this specific property? Have you done your analysis? What would you ROI be?

@Erika Newmyer Hey Erika, all you need is a purchase agreement that you can buy at any staples. That can be your starting point and work out the kinks with your attorney. I’m sure you can find an investor friendly attorney on BP. Is the seller willing to hold financing or are you getting a mortgage?

Hello @Imran Na I'm from the NYC area and looking to possibly invest in the Schenectady/Albany market. So far from my preliminary research Schenectady has shown the most population growth in the region at +6.2% and has a favorable entry price point for multi-units. My strategy is long term hold and cashflow. Appreciation would be great but I consider that the cherry on top. What is your goal? Also welcome to Bp!

@Sagiv O. I see your and investor from the mentioned area. Any recommendations on which areas to look and stay away from? I know some markets are wildly unique and can vary block to block. Overall Schenectady has some promise and has a friendly entry price point. What is your investment experience?

Hey @Joseph A. was following the thread and wanted to see how you were making out? Im interested in the Schenectady market and was doing a little research.

@David Stokley Hello David, I would like to visit but with the pandemic I’m a little nervous to fly. I know the drive is like 8 plus hrs so that might be a little ruff but I’m willing to do. What is your investment experience? Like most investors I’m interested in a Brrrr property that cash flows after refinance and debt service at a 10% cap. In your experience is this possible?

@Anthony Warren cool thanks for that info. It’s great to have your first Brrrr deal under your belt and much success to you. How was it on the refinance side of the transaction? Did your mortgage company require seasoning? How is your property management? I held a property out of state in Pa and I went through 4 management companies in one year. It was crazy and makes me very skeptical about out of state investing.

@Anthony Warren what’s up Anthony, I’ve been told to stay away from East Side of Cleveland. Any advice you can give as to what areas are the good parts? Are you currently investing in Cleveland?