All Forum Posts by: Ryan Miller

I'd appreciate that, @Shane Mahar

Is anyone attending in person meetups in or around the Albany area. My schedule has finally improved and we are actively seeking investment opportunities...so I figured this was a good time to start attending these again. Any help would be appreciated!

Ryan

 Can I ask which town? 

I'd highly recommend Scott Kind, CPA - 518.461.1699. Tell him I sent you. He's an investor himself and recently left his role as partner at the largest firm in the area to start his own company. Real eatate is his primary focus.

Do you typically ask for a percentage of the deal or cash in return for the "bridge loan"?

I'm with the Murray Group too. The best of the best!

Have You guys heard of BlocPower? They do everything from beginning to end but they claim the incentives from the state. Not the direction I'm going but the meeting was very informative. The units they use provide AC and heat and were rated to -20 degrees. We have a 4 plex that currently uses radiators but we pay the gas while the tenants pay for electric. Obviously, we are looking for ways to transfer that expense and mini splits seem like the best option. This would add the ammennity of AC as well. If you get nothing else from this post, please be aware that there are likely significant rebates available through your local power company and/or state gov. 

How did your house hack go on Delaware? The Normanskill Bridge has always been the cutoff for me but I've know REIs who have found nice cash flow within the city limits. 

Hey, guys. Sorry I've missed these in person meetings. Things have been nuts between kids, day jobs, and, of course, real estate! I figured I'd ask this group of rock stars as you all have immense knowledge and experience....do you have a bank, preferably local and in house (not Fannie/Freddie) who will finance a 3 family investment property, at least 70 LTV, that was a cash purchase 8 months ago?

The problem I'm running into is required seasoning periods (12 months) and the fact that we used cash up front and bought two houses together for $350k. We have banks who will use the purchase price....but for both houses. They are on separate deeds but banks are looking at this as an even split in terms of valuation, at least until we get past seasoning when they will use appraised value. We need to get the one house, which is now 90 percent rehabbed, financed prior to the 12 month mark. FYI, we love Chemung Capital but we are maxed out with them. Any help would be appreciated!!!