All Forum Posts by: Rigo V.

@Mark Gallagher multi family. Looking for people that I can trust on the ground 

Hello everyone,

Just checking to see if anyone has a good property management company they trust for Allentown or the Lehigh Valley overall?

-Thanks

Hello Everyone,

Looking for my first property. I have looked at several areas and need any insight someone may have about these possible locations.

Lehigh Valley-Especially Allentown PA

Phillipsburg NJ.

I am looking at these area and I am very intrigued by both just not sure if anyone has experience with buy and holds in this area? Should I expect any appreciation?

I know Allentown and its government is trying extremely hard to revitalize that area.

-Thanks

Anyone else have any ideas? Thanks

@Jeff Wallenius I PM'd you. Extremely interested in hearing about this.

Hello everyone, I am new to the site but very excited to get started. I am looking to get my first investment buy and hold property soon.

My question is how do investors who buy and hold properties manage to expand their portfolio's quickly? (3-5 years) 

To put some numbers to my question. I am looking at a MFH that has 3 units and selling for 199K. The 20% down payment required would be about 40K. It is a turnkey property. I expect that the property will net about 8k in positive cashflow per year after all expenses including property management. At this rate it would take me 5 years to be able to expand to a second MFH.

What can I do to speed up that time to lets say a year or two? Should I be buying homes that need repair so I can build equity with the rehab and cash out refinance for the next? How can I do it with turnkey properties?

-Thanks

@Jonathan Towell the rate of return would be guaranteed. Only thing not guaranteed is the the monthly payment amount being the same every month and the repayment period which can be mitigated by a clause that would force me to refinance to give them the cash back after a certain period. 

@Jonathan Towell Thanks for your response!

The lender would get a guaranteed rate of return in my deal. The schedule of repayment would be something they might have to budge on slightly. The collateral would be the home we purchase since they would technically be my partners until a certain threshold of cash back to them is paid. 

I realize that this would not be possible with a traditional lender that's why I was asking if private lender would be willing to do a deal like this? 22.5K at the 8K i estimate to make a year from this home would allow them to get paid with a return in about 3 years.

Hello everyone! Just thinking of a creative way to finance my first purchase! I was thinking of my ideal situation of how I can fund it and thought of this and was wondering if anyone can tell me if anyone would ever be willing to do this?

Currently I am looking at a 3 unit home that is in an up and coming area of PA. The home is 199K and the basic income stmt would look like this (below)

Now I currently have 22.5K for the purchase but need another 22.5K to close and have a bit in reserve for vacancy etc. (I can't do FHA or anything that requires me to live in it)

Would anyone ever be willing to provide(partner) with me the 22.5K that I need if I can repay them with whatever money is left after all the expenses every month. So basically the agreement would be that as long as that's months expenses are paid (everything included below) they would get the remaining until they were paid off. Once they are paid off (with a preagreed return also added on) that they would leave the partnership and I would become the sole owner and begin collecting myself. If the return takes longer than a predetermined time we would cash out refinance to repay the partner/lender and also keep the property.

What does everyone think? I am new so if something doesnt make sense or if this has glaring holes please excuse me. Thanks.

@Account Closed Did you ever settle on an area? Looking to do something similar. Thanks.