All Forum Posts by: Robert Granara

im looking into other ways to purchase more rental property...ive bought rehabbed and rented 3 three families this year...one property i have has $75K...it was just appraised at $260K and i owe $185K

is this enough to cross collaterize?...at 75% LTV its only about $10K...is this how they look at it?

im a small time investor in multi family properties...ive been buying this year and plan on holding for as long as possible...ive done three 3 families so far this year and want to do more, maybe 2 or 3 more...however im pretty much tapped out of equity and cant come up w/ the down payment on the next deal

i talked to a hard money / rehab lender today and he mentioned an equity partner but he didnt discuss the details...how does an equity partner work and what are the costs assocaited?...has anyone ever used one before?

justin, i looked in worcester about 5 years ago...i think you'll be surprised...there are a ton of huge 3 deckers out there in good shape, i remember a few w/ old natural beautiful woodwork

...i almost bought a couple...i see many worcester 3 deckers for around 100K...rent them for 900 each...i didnt do the #'s but that should net you good cash flow

hey guys...been waiting to hear some from local guys...im in reading, grew up in medford...

ive bought 3 three deckers this yr in lynn...and will be buying more if i can find a good hard money lender

...i go w/ suction 8...i believe thats the way to go in the lynn, lawrence, lowell and other tough areas...for me its all about cash flow...benn buying 3 deckers for about 200K, not overly distressed but bank owned and put 10K into each unit and rent for $1200-$1500...

any other investors out there buying multi families for cash flow...most of the investors on this site seem to favor single families for cash flow, but to me it seems you get better cash flow on 3 family properties than from singles...

in my area you can now cash flow around $1500 on 3 family homes...

for me $850 for 6 units is not enough...for 6 different tenants, even if its all located on same lot its going to be a lot of work...id want at least $2k per month and probably more like $3K cash flow for a 6 unit building

here i buy 3 units w/ cash flow of $1500 per month...

some things ive learned over the yrs from sec 8...all sec 8 departments are not run the same...in mass. where i live they vary from city to city, some are better to deal w/ than others and the only way to know is to network w/ other LL's...

sec. 8 in my market tends to pay more than a regular renter (maybe approx 20% more) ...also section 8 tenants tend to stay longer...the re inspections are usually no big deal if you keep your properties up as they should

I need to do something w/ my properties...I have been buying one house every 3 months or so over the last year and I now own 6 properties including my own primary house...

I know I need to put them into either an LLC or separate Land Trusts...Im leaning towards the individual trusts for each property but what I dont like is how I cant mix the funds from each property as I currently do...Is there any way around this?

I currently have a separate bank account for all my properties from which I pay my bills/mortgages and deposit all rent checks, is there anyway I can still use one account but have more liability/legal protection?

too funny...i played hockey at umd, not in the 70's though...it was probably the football team...hehe

bostonhome, i just did a loan that is a variation of the 203K...i did it through saugus bank...

10% down based on the ARV...decent rate of 6.875% ....this was for a 3 decker...i am not flipping, at least not now...im renting the units out

my deal (round #'s)...purchase $200K ...$20K renovations...ARV $265K...

I had to put down around $25K...it comes out to a little more than 10
% but still a good deal i feel...you may want to check it out...

i will use the program again if i can...good luck