All Forum Posts by: Jorge P.

@Caleb Heimsoth Can I just pay you $50 so you can vet this person!? haha  jk.  She vanished once I told her I was an agent :-)

@Account Closed I dont think email  usernames is a protected class... Ill have to call the department of state and verify =D lol

@JD Martin well I am a licensed realtor & after disclosing that information - she basically went went silent lol... My gut tells me this is prob one of those instances where having your license was advantageous to me :-)

Hey Guys JP here, 

I just finished renovating a 2 family home and currently filling the 2 vacancies. I have received some interesting inquiries thus far, but this one I had to share on here. I have included a picture of the email for you all to see (pay attention to the tenants email). 

Based on this email, would you consider renting to this tenant? lol why not?

OFF MARKET. 2FAM PROPERTY in Bronx NY  FOR SALE - $425K . CASH BUYERS ONLY.

SERIOUS INQUIRIES ONLY PLEASE. 

HAPPY TO CONSULT THROUGHOUT THE RENOVATION PROCESS FOR FLAT FEE , IF BUYER IS INTERESTED. 

@Manon Sheiman Thanks for checking in - so I’m going to also buy the 3 Fam with basement as well & keep this one also. I’m actually in attorney review as we speak :-) 

Will post some pictures of the 2fam & 2fam ones all the dust settles 🙂

@Billy Daniel what about: 

$130k in 5 months + $1kmth in cash flow + the house (real property).? 

This is not dependent on anyone else buying the property. However if the every bank in my market goes out of business then I may have myself a situation 😁

@John Peine ty

@Robert Sapienza Thanks for weighing in. Again, I think selling is a great option. This sort of renovation will actually be small compared to the one I just finished rehabbing. The home was built in 1912 & I put in $250k into that one... new plumbing , electrical, foundation water proofing , new roof , etc... The renovation process is the least of my worries.  Your prob correct in your assumption - I do have a 3 decent contractor whom I use on most of my projects. 

In terms of the LTV I do have a bank that does up to 90%. (Inbox me if you'll like more info on them )

But you make great points, thank you for that 

@Jason Bruning great question. 

My end goal is increasing my residual mth income with cash flowing properties. Because I had hit a temp cash drought, I had considered selling it.

I’m just thankful I had/have the ability to sell to another investor if I need to, because I bought it at such a good price. They say you make the money when you buy, do you agree?