All Forum Posts by: Abraham Rahmanizadeh

Hi all,

I hope everyone is doing well! We are having some problems with a contractor who had employees working for him that caused material damage by starting an electrical fire and then threw water on it which made it worse and our tenants said they were drinking on the job as well.. He claims no responsibility for causing the damage and says that we should be on the hook for all of it so we'd like to take him to court / file a claim against his insurance (which he already indicated he would decline) and only pay him the amount due net of the expenses we incurred due to the damages he caused. If we were to do this, and he files a lien against the property does that show up on your credit immediately or do you get a chance to go to court and pay it if the court orders it prior to it showing up on your credit? If there's any additional info I can provide to help answer the question or if I can do anything to help anyone else, please let me know.

I am not looking for legal advice just curious about when liens show up on your report because I'd really like to fight this claim but not at the expense of my credit..

Thanks!

Abe

@Brent Coombs Many thanks for your reply! Super helpful link will definitely have this discussion with the lender I've been talking to. If there are any lenders doing loans without seasoning at attractive rates / loans based on appraised value in Tampa please don't hesitate to reach out.

Hi everyone!

Hope life has been treating everyone well as of late! I am reaching out to the incredible BP community because I read in a few different places about the potential for deferred financing and was wondering if anyone knows of / has had any luck with this and could recommend particular lenders? What I read was that a lender would lend you up to 70% of purchase price with no seasoning but then they would lend you somewhere between 70 and 80% LTV of appraised value once 6-months of seasoning passed and you would not have to pay closing costs twice. Numbers aren't exact but something along these lines would be incredibly helpful.

I appreciate your help and if I can be helpful in any way, please let me know!

Abe

Thank you @Amy A.! Very helpful to know.. 5-10 year terms that amortize over longer periods of time are fine. The most important component for me is the amortization period. How much did you have to put down on those Amy?

Hi everyone,

I am reaching out because I am currently in the process of analyzing / purchasing a 5+ unit multi-family property in Maine and would like to talk to a few lenders and see what's available in terms of long-term financing (25+ years ideally) and potentially do business with a fellow BPer!

Abe

@Joel Velasquez Welcome! I'm also a recently minted BP member and have recently started investing down in SoFlo but from a distance with cousins that are living down there.  As everyone has mentioned the podcasts and forums are an incredible source for information and have already helped me a ton. Best of luck and let me know if I can be of any help!

Abe

Hi @Account Closed Thank you! I appreciate you offering your help. Definitely interested in the SWFL market as I have a few friends from there that have said good things but I don't know much about it. May take you up on that offer once I am back in the states..

A tad bit premature since I am heading out of town but.. Happy New Years everyone! Thank you all for the welcoming!

@Chaim F. Thank you everyone for the kind words!

@Ben Staples Thank you sirs!

@Mark Nolan Appreciate the advice. I would imagine members are the most valuable resource of them all!

@Henrin Mathew Hahaha, thank you! Merry Christmas and now a Happy New Year!

@Kathleen Bassett Thank you for the note! Definitely interested in a variety of opportunities. Will send over a message once I am settled (traveling around for a couple weeks starting tomorrow).

Thank you everyone for the kind words! I look forward to being an active member and getting involved where I can with the community!

@Josue Garcia feel free to send me more details in a PM.

@Linval T. Thank you for all of the resources! I have already been making my way through a lot and it's already been great!

@Antonio Coleman Excited to be joining a great group of individuals on this site! We're focused mostly on buy and hold but also keeping an eye open for flipping opportunities. The marketing end is definitely an area I am focused on fully understanding.

@Tim Costello Hope the visit down in SoFlo was a good one! I look forward to catching up when you make your way back up here to NYC. Shoot me a note once you're back in town and let's connect.

@Steven Kopstein Thanks for the advice and for welcoming me! The podcasts are actually what immediately got me hooked! There's so much great information packed into those short sessions and there are so many!

Hello BP family!

Let me start off by saying Merry Christmas! I hope everyone is getting a chance to spend it with the people they love and hopefully getting some nice surprises today!

I was very recently introduced to the BP community by my cousin and wanted to take the time to introduce myself! I am currently working out of New York city in investment banking and have been looking into real estate for the past year or so with my partners (my cousins). We have acquired one property so far and look forward to continuing to learn, grow, and acquire more properties in 2016! 

We are looking to invest just outside of the New York area, including Jersey City, Long Island, and other areas around the city and Florida (mostly the Tampa Bay area and South Florida). I am very eager to learn more about the business and hopefully meet others in the BP community both in New York and Florida (whenever I get a chance to head down). I love investing across the board including businesses, real estate (of course!), and the stock market and I love discussing and bouncing ideas off others! Please feel free to reach out to me if you feel that I may be helpful in any way!

Abe