All Forum Posts by: Matt B.

@Yasmin Mohamed I would get the permit before it is done this way you can make sure everything is up to code when the inspector comes. 

@Ling Chen i personally stopped investing in SI a few years back. I started looking out of state since the 5 boroughs dont really cash flow to well. I heard people have done well upstate so it might be worth a look to check out the counties above the city. 

@Brandon W. Im glad you shortened your last name to just "W" and deleted most of your profile. I would do the same if i was as embarrassed as you must be right now. you may have apologized for disrespecting and personally attacking some ppl on this forum but that doesnt make it settled. you havent apologized to me or to everyone else who will stumble on this discussion and completely waste 20 minutes of their time with your nonsense. unfortunately for you, my two cents is worth more than your deal. in fact, with my two cents, ill probably have a bigger equity position in it than you. 

And im not coming in all macho, im just calling you out for what you are. your either a scammer or someone whos only knowledge of real estate is how to spell the word.      

@Wayne Brooks Well said! 

@Brandon W. @Jon Huber "I have it under contract. Yes financing is already in place read above." now that changed to "No Jon I said I have a contract. I didn't say it was signed." lol do you understand what "having it under contract" means or are you throwing around terms you read in a book once?

you wont have it under contract (signed, since someone here doesnt know what that means) when you cant come up with the down payment. Financing is not in place, financing will only be in place when you come up with the 20% down and you pass underwriting (which you have not yet done since you don't have the down payment). 

I'll be rude since you have a real attitude problem....its people like you that hinder the growth of others. you cant come to a forum on real estate, basically post up that you need a partner to fund the down payment of over $1mm and expect people to flock to you just because you found a deal. so what, people find deals every day. and i got news for you, your $6mm project is nothing more than a single family home where i live. welcome to NYC.   

Since your "go to" seems to be berating people for not doing million dollar deals, ill let you know that I have not done one...and neither have you. but judging from your profile and your attitude, I've done more deals than you, as have the people you think you know more than. 

For all intents and purposes, the only role you play here is being a wholesaler. nothing wrong with that but dont be a wholesaler and expect to get the percentage of a equity partner with skin in the game. And might i add, that i dont have millions in the bank but the people i know that do, would never do a deal with someone like you because of your attitude. its always the broke ones who bring nothing to the table that are the first to criticize others when their opinion differs. everyone on here tried to give you good advice, to be honest, you dont deserve the advice they gave. they should let you pitch to a few investors and watch you get laughed out of their offices with your tail between your legs because only then will you learn something of respect to others.   

@Russell Brazil any chance you can kick this guy out of the forum? he clearly doesnt know how to respect others. 

@Ling Chen, I live and have investments in Staten Island. It is very hard to cash flow in SI. your best bet would be a sweat equity play and even that is tough. most of the properties ive seen under 300K will not work with conventional financing, i.e. difficult to get bank approval or will be in not so great areas. not so great ares generally = not so great tenants. a two family in a good area can easily hit $500K. in a war zone needing work you can probably get a two family for around $350K. Just so you know, Mariners Harbor isnt in a great area of town. I personally wouldnt buy a property there.   

@Rich O'Neill I heard about WSFS, I'll give them a ring and see what they got. Thanks!

@John Knisely I will send you an email shortly. Thanks! 

@Kevin Romines very good points. thank you for the feedback! 

@George Despotopoulos, I'm looking at two properties in Delaware County. They are $75K and $90K asking price. Both are SFR. No concerns with FICO or DTI. I would be only taking one of the properties provided everything goes well with the showing.

Hi Guys,

Anyone know any good local lenders for a long term (30 year) rental property mortgage in Delaware County, PA? 

Thanks,

Matt