All Forum Posts by: Steffani R.

@Kevin Mantell thank you for the information Kevin!

@Nick C. Makes a lot of sense. Thanks Nick!

I’m hoping someone can help clarify this.

We want to put $75k down on a property (25% on a $300k building). The way to get that cash back (the $75,000) is by rehabbing the place & refinancing it?

@Brian Pistone hi Brian, thank you! We’re looking into Middlesex, Monmouth, Ocean, Hudson counties.

@Corina Eufinger thank you Corina! I think it’s a deal we may pass on considering the commercial space. Just not an ideal situation for a first investment.

@Leila Nosrati thank you Leila!

@Odie Ayaga yes, buy & hold.

Hello everyone!

We’re on here to learn as much as possible as we transition into being real estate investors!

Open to all advice!

I’m hoping someone can share some insight. We are looking to make an offer on our first multi family investment property. This is a mix use property with a commercial space on the first floor.

Asking price is $299,000 with an additional $60,000 for the bodega business already in place. The owner currently runs that business and wants out. However, we’re not interested in the actual business but we want the building. He’s selling it together.

He shared that he just wants out because he can’t run the business anymore. His wife use to do it for him & she, unfortunately, became sick recently leaving him no choice but to keep his current job AND work at the bodega. He also said business has been “going down”.

In other words, he’s in a rush to sell.

Again, we have no interest in the business nor do we know anyone that would be willing to rent it out (just yet).

My question is: I think it can get a little complicated being that it’s our first deal but I also think we can get this place for rather cheap. What would be a good starting offer? What should we do with that current business?

Any advice from experienced investors would be greatly appreciated!!

Thank you.

Hi Gabe, still on the market?