All Forum Posts by: Sanjeev Vij

@Chris Choe - thank you

@Dave Skow - Yes please if rates are less than 6%. It will be investment.

I’m Looking for financing on a two family duplex located on Long Island NY, purchase price $700k, down payment 40 %

What are the option of fixed rates at least 7 years. Thanks

I'm looking for a HELOC on my primary residence through a non conventional lender. My residence is 80% paid up however Due to debt to income requirements, I do not qualify for HELOC.

I was hoping if there is a non conventional lender out there that can give the HELOC probably at higher rates. I'm heavy on assets but light on income and have no W2 income. Any ideas or thoughts are appreciated.

Gary Swank Is there inventory of multi family comprising of 20+ units in Pittsburgh area. My research shows most deals are rather small.

I've looked into this area but not pursued due to high crime. I think Section 8 tenant will be path to least resistance as long as property cash flows extremely well. Do not expect any appreciation.

Jeff Greenberg Couldn't agree with you more. Majority of the deals out there are based on unrealistic projections of value add & based on theory current rents are too low. Well, sometimes rents are too low but it takes work & turnover to take it to next level & that benefit must go to the buyer without paying any premium.

Thanks everyone for your input. Alice K. After digging deeper at the competition, our conclusion is leasing staff was not doing a good job vetting applicants. Property Manager has been receptive & they just changed the leasing staff. Kind of early to look for a new PM because they have improved operations & bottom line since our takeover.

Diane G. In my experience, even in B properties 2 months rent as security deposit is not happening. In areas line NYC & San Francisco, I have come across this but still uncommon. Cody L. Just wondering where your apartments are located to be able to get away with 2 months security? Is there very low vacancy rate in your submarket? Are competing properties also charging 2 months? I'm wondering whether your leasing people have to work that much harder to find a tenant & further does this mean vacancy is higher just because of strict criteria? Or may it works out in the end as your loss on skipping / delinquency is mitigated.

Diane G. Fortunately we are doing great. And always looking striving for better. It over 15 months since we purchased this asset and our cash on cash in last 6 months is north of 12% and improving.