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All Forum Posts by: Robert Khalev

Robert Khalev has started 6 posts and replied 39 times.

Post: Wholesaling - Starting out in Central NJ

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

Hey all,

My real estate journey as a buy and hold investor has been going (to say the least). I have had to make some significant changes and will share those updates at a later time.


Currently, I am looking into starting a wholesaling journey with my new partner.

I am looking to start wholesaling in Middlesex, Monmouth, Somerset, and/or Union Counties. 

Looking to network with those have had both successes and failures in the area.

Post: My First Rental Deal

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

@Johannes Bezuidenhout

Congrats! What is the plan next?

Cash out refinance with a 70% LTV to invest into more properties?

Post: Cash out refi to buy another investment property. Need advice.

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

Hey, yes. You take a hit on a higher mortgage on the 1st property, but your cashflow from the 2nd investment property will offset that. Not to mention, loan pay down and appreciation. In theory, the plan is a go!

Post: Closing costs estimates

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

Hi, do you mind clarifying your question a little please?


To answer your question simply, on a cash deal, you do not have to take a loan to buy the property, so you save on loan closing costs in that respect :)

Post: Repairs in the BRRRR

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

Hey Jonathan,

There are a few answers to this question depending on what your goals are. 

Let's assume an ARV of 135k for a property, purchase price of 65k, and a rehab of 25k.

A good BRRR is where you are able to cash out refi your purchase, rehab, and loan origination fees on a max 75% LTV.

75% Loan to Value (LTV) of a 135k ARV = 101,250$

Purchase+Rehab = 90k + loan origination fees and closing costs = roughly 100k. 

On a 75% LTV cash out refi, here is an example of where you are able to take out money pretty much equivalent to how much you have put in.

1 of the only things I did not include in the calculation are monthly holding costs. Some rehabs take 2 weeks, and others take 2 months or more.

Hope this helps! There are several good answers to your question :)

Post: How to contact a non-occupant owner?

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

Hey Tre, Skip tracing can help you! I am sure you will find a ton of resources by searching "skip tracing" on this forum or google :). Good luck!

Post: How To Locate Distress Properties

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

1. driving for dollars. Physically getting in a car and driving around specific neighborhoods.

2. networking with wholesalers in the area.

3. Attend REIA meetings in the area and network.

There are more ways, but these are the most effective in my opinion :) 

Post: Investing in Lexington Vs. Louisville

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

@Emily Beatty

Hey!

I invest in the louisville area as an out of state investor in single family homes and I absolutely love it.

Not the best BRRRR's, but really good!

Post: Home equity loans versus bank/lender for getting started

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

@Caroline Landreth

Here is my recommendation:

I used a HELOC from my primary residence.

I get a loan from another lender and use a portion of the heloc to pay for the downpayment and loan origination fees.

For example:

Let’s say I have 70k purchase price and 30k rehab.

I got a 90k loan for 10k down with 8k in loan origination/processing fees.

I used a portion of my heloc to fund the 18k and also used a portion of my heloc to fund the monthly interest payments for the 90k loan until the home began cash flowing.

I hope this example is useful. The power of “safe” leverage is underestimated!

Post: Lenders vs big banks

Robert KhalevPosted
  • Rental Property Investor
  • New Jersey
  • Posts 47
  • Votes 18

@Jennifer Aubry

Hey, so in my experience, larger banks, specifically chase and Wells Fargo were very competitive.

Small banks were great too and they offer portfolio loans!

Problem with all of these (in my experience): they don't loan to LLC's!

You have to transfer ownership to your LLC when attempting to refinance and/or after initial purchase. This was a big turn off for me.

I found lenders through BiggerPockets that much better suited my needs!

I do recommend contacting Camile case from Inclusive Properties. She was very competitive and offered exceptional customer service!

Good luck!