All Forum Posts by: Nick Adams

@Christopher Rutherford  You said you refinanced into a physician loan?   I have been told by BofA that we cannot do that. 

Unfortunately, we learned about this product too late. My wife is a physician and we purchased our home a couple years ago. We put 20% down and have since gotten into RE investing. It would be great to be able to refinance into the physician loan and use that cash for rentals.  However, I've been told that we would have to sell the house and establish a new primary residence in order to take advantage of the physician loan.

 We don't want to move, but are considering it for this reason.  Any insight on this product would be great.

In a larger residential/ smaller commercial deal (about 1.5M) what would be a fair equity % to offer to the investors whose names are on the note?? Example: 4-5 investors 1-2 on the note. What is a fair incentive to take on the debt, increasing your debt to income ratio?

@David Drew what are you projecting for appreciation?

@Cynthia Ng Is that at Marist?

@David Drew Did you end up pulling the trigger in Binghamton?  If so, please let me know how it's going.

@Daniel Dietz @Aaron Smith, Yeah it's pretty misleading.

@Mike Huang Do you have any experience in or around Albany?

There are properties listed under "Pre-Foreclosure" on Zillow and a lot of them.  What can I infer from that?  There is no listing agent and not much information, but there is a listing price.  

Hi @Carolyn Baek.  Is the property still available?  If so, please email the photos and videos to [email protected]

I know this isn't a unique problem, but I am not a native of the Tri-State area and now work in NYC and live in NJ.  I am constantly hearing that one of the biggest mistakes new investors make is purchasing too far from home, but I'm finding it very difficult to make the numbers work.  For example, most of the multifamilies in my area are renting out around 0.6% of asking price.  

If anyone with more experience in this area could give me a handful of neighborhoods on which I should concentrate, that would be very helpful.  Thank you.