All Forum Posts by: Martin Morales

Follow up-- IF the appraisal was done 

you normally pay the appraisal upfront online - if that transaction was done - then you don't get your money back

Cash flow is good if units are paid-off or class B or C areas that are going through gentrification and you buy them relatively cheap. The only things you have to administer is paying your taxes and insurance since it's not in escrow. I paid off 4 SFH for various reasons...

Cashflow if you want out of the rat race, appreciation is just the icing on the cake. if you can get both all good. 

Hi Sarah! Not a CPA, but banks cater to w-2's... Self-employed borrowers may qualify with just one year of tax returns. Those returns must show at least 12 months of self-employment income. And the applicant's debt-to-income ratio must meet lender guidelines (usually a maximum of 43 percent, but it can go to 50 percent for exceptionally-qualified borrowers.

@Dave Lin thanks for the link

I have a contractor who performs functions as a property manager. For example, just a few min ago one of my toilets went bad and my contractor/property manager took care of it. I broke a real estate cardinal rule by getting Involved with some tenant issues, but you inspect what you expect. It’s my investments and they must be sustainable 

Hi Nicole- yes i do still invest in Lehigh valley. I have 13 single families, I have two 2 units and closing on another 2 unit next week. I still live in NYC and got a little house for myself out there when I’m doing deals I don’t have to go back to NYC 

I own 16 properties in Lehigh Valley- bought my first two in 2004-2005... then went aggressive in 2015 

NJ isn't tenant-friendly- stay in landlord friendly states. PA lehigh Valley is a tenant-friendly state.