Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Paul Camuto

Paul Camuto has started 12 posts and replied 170 times.

Post: Looking to move from STR to multi unit buildings

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99

Hi Claudia, I thought the same thing in my journey up to 15 properties always looking for a multi-family as the faster path to accelerate units. Real estate is about rinsing and repeating. Boring is good. MF are going to have different pricing and returns then individual properties. A lot of times MF units will not be cash flow positive with financing. Have you run the #'s for MF by you in comparison to what you get for your STR? Create your own "virtual" multi-family by acquiring individual units. At my peak I was able to buy 5 individual units a year without even pushing it.

Post: Purchased duplex, 1 year and $20k later found out it's zoned SF

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99

Talk to an attorney

Post: New investment property owner in SE Michigan

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99
Quote from @Eric Mason:

After years of analysis paralysis I finally purchased three duplexes in Monroe MI.  I've joined my local Landlord Association and i'm saving for my next property. I live just four miles from Toledo in Temperance MI and am looking to connect with local investors as well as members on Bigger Pockets.  


 Congrats Eric. Major leap. Most people can't even buy 1 let alone 3. Great job. Keep up the good work.

Post: Private Lending question

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99
Quote from @Chris Stonestreet:

Hey everyone, 

My current primary residence is financed through a private loan with a family member and does not show up in my credit report. If I go to purchase a new primary residence or investment property, will I need to report this loan or not? My plan is to buy a new primary residence and rent this current house out, but my DTI would not qualify for much of a new loan if this private loan counts. I hope that makes sense and thank you for the help!


 Yes, just depends how factual and honest you want to be in terms of your debt obligations. If you get paid cash do you still have to report to the IRS?

Post: I'm new. Help! Looking for advice and tips on getting started!

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99
Quote from @Ross Dannenberg:

Hey All,

As I said, I'm new to this, to investing in real estate. I was an agent in the past (long time ago) but always wanted to get into the investing side, not that my wife and I have settled in Connecticut I want to start investing in multiple unit properties in my area. 

I'm looking for blogs, books, and general advice to help me get started. I would also like to grow my network.

I'm specifically looking for advice on the financial side, the advantages to a HELOC or personal investment, how those are paid back, how to continue investing after the first property.

But really anything would help, any and all resources to help me get started in this journey. 

 Ross forget all the textbooks, books and general advice. Buy, rent, hold. Find one property that cash flows and buy another. Find someone who has actually done it in real life vs. high-level theories or multiple investment strategies. Keep it simple in the beginning.

Post: Need Advice: How to Cash Flow in 2022

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99
Quote from @Chris Kreslins:

Hello, I'm new to investing, and with the current prices against current rents, I'm finding it difficult to get properties to cash flow. As far as I know, I am pretty thorough with the calculators. Is it just me?  Or is it the current state of the market? Any advice would be appreciated. Thanks!


What are you basing on your calculations? In the most aggressive state of NJ I can find properties that cash flow. What are you including in the expenses? What are you using to base the rental income on? Forget things like maintenance reserves, vacancy loss, property management. Show us your #'s?

Post: Property In Michigan Question

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99

Simple question to ask yourself. Would you live there? No rental should be vacant in this market.

If you cannot qualify for a conventional loan as a buyer/investor you should think very hard about what you are trying to do. Partnerships and alternative financing are recipes for disasters especially as you are starting out. Improve your credit, build up your savings, then buy a property.

Post: Commercial loan advise on timing for refi and cost for appraisal

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99
Quote from @Mark Sheppard:

I have 6 houses in Fredericksburg, TX that we built from the ground up using a construction loan, that just recently rolled over into a 25 year at 4.5% principal and interest until the maturity date of April, 2027 where it will be a balloon payment.

Due to the rising interest rates, I wanted to see when is the soonest I could re-fi out of the current loan with a cash option to lock in a 25-30 year rate and pull out some cash that was used for the build. Also, wanted to know what an appraisal fee might be for a commercial loan that has 6 STR's on the propery.


 What does your commercial loan officer say?

Post: Out Of State BRRRR How did you set up your team?

Paul CamutoPosted
  • Real Estate Coach
  • Robbinsville, NJ
  • Posts 185
  • Votes 99

Have you done an in-state BRRRR?