All Forum Posts by: Syman Scarpellino

Hey BP, this is a little bit long so thank you up front for the read. 

I’ve spent the past 3 years building a decent portfolio in California and Indiana. I started with about $20,000 and $50,000 in equity from my primary I purchased in 2017. 

9 SFH

1 Duplex 

2 Triplex 

about 3.5 million in total RE with about 2.6 in debt attached to it between first and second mortgages. 

Cash flow is effectively 0 with California properties negative but holding the majority of the equity and Indiana positive but less so in the equity department

As we enter into treacherous times I am either feeling the effects of imposter syndrome or I actually need a leg up. 

I’d love to pick someone’s brain who’s come before me with similar circumstances. 

(Did it this century and did it without several hundred grand from dad) 

this has proven to be harder than expected. Locally my RE investor pool consists of people who haven’t gone quite as far down the path as I have or people who built property on land they bought for $52 and a pack of gum in 1672 

When I’ve sought guidance or even opinions online I end up being pitched a sales program or on the phone with a 20 year old kid who read a real estate terms dictionary but hasn’t actually done any of it. 

My current plan is to flip in California to pay down some debts/buy more cash flow in Indiana. 

Where do I find who’s willing to look at my portfolio in detail and give me their opinion on what I should do. 

I’ve considered submitting a resume with David Green or one of the other bigger pockets pros just to get in the room with them even if I have to work for free

(which is funny for someone who hasn’t considered the idea of interning anywhere for 10 years, and definitely not when I’m not in the market for a job) 


So here’s my pitch. 

1) is anyone who’s a real pro willing to do this out of the goodness of their heart? 
2) does anyone want a highly skilled sales person willing to bust *** for little to no pay in exchange for getting in the room to learn? 

Anyway, thanks for reading 

- Syman 

Hey BP, 

Just bought 5 houses in Muncie Indiana. Most are in decent shape. One needs some Minor/Moderate updating. 

Besides Calling around on google, who invests in Muncie on here whos willing to pick up the phone and talk about good honest people to work with for Contractor/Handyman work. 

I'd appreciate any help. I will reciprocate anything I can out in Muncie, and if by chance you have interest in Northern California I can help out directly. 

Thanks, 

Syman

Hey BP, as always much appreciation. 

I just purchased a distressed home in California

PP $185k

ARV (Third Party Appraised) $360,000

Rehab $110,000 (Contractor Bid) 

I have the funds set aside for the rehab, but It will run most of my available funds. 

I’ve done 203k loans and the like in the past, my question is whether a loan exists for Rehab only? Something that will use the appraisal I just had done, not require me to refinance the entire loan into one. 
(Helocs aren’t an option)

(Primary has a 1 year Pre Payment Penalty)

I’ve read about RenoFi loans but they seem to require everything lumped together. Since the job is being hired out to a GC, I don’t mind the funds being directed/protected from fraudulent use. 

Hey BP, 

I am buying a handful of properties in Muncie Indiana this month. First time in the area, where do you guys go (besides google) to find a good inspector in a area you haven't bought in before? 

Thanks for the advice 

- Syman 

I’ve been searching for months. I have a triplex (investment property) with some equity I’d like to access 

I owe $435,000 I think it will appraise for $700,000 

No one seems willing to do a Heloc on an investment. What am I missing? 

(I am at 5% so cash out seems like a bad choice)

Hey BP, 

I am a small time investor in northern California. I have 6 properties that are practically leveraged with a total value of 3 million +/-  (10 doors)

I have a opportunity that is outside of my knowledge and comfort zone. 4.5 million dollar large multi family out of state with sellers willing to finance. 

the property pencils, I am curious if there's a creative way to buy this with little to no money down? instead of seller financing the first, is it possible for them to finance the down payment, or at least most of it? 

I've always read about no money out of pocket deals, but in my market the competition usually means sellers arent nearly willing to carry mortgages, unless your willing to over pay anyway. 

Hey BP, as always I love your insights. 

I was listening to on the market and they were discussing migration trends and population growth when targeting your next market. 

I’ve been building equity for the past couple years and I want to get into the “medium” multi family game out of state. (I’m in CA) 

I want to BRRRR a 6-20 unit in a reasonably inexpensive market.

Two questions 

1. Lazy question: where should I buy 

2. Where do I learn how to analyze markers on the macro level.

I am considering joining this program. I am curious if it is associated with bigger pockets? I figured the term would be exclusively licensed but I may be mistaken. 

Anyone have any feedback on the program? Is the bang worth the buck ? 

Hey BP, 

I am planning on trying my hand with some flips in 2023! 

I have a lead funnel to find deals, and a contractor ready to go 

my hang up is reliable financing. 

looking for investor first hand feedback on a reliable source for fix&flip loans. Great income and credit, (I dont need something off the books). 

I want a lender that I can stake my reputation on getting me the funds to buy something off market here in northern California

Thank you all !!

Hey BP, as always thank you for sharing your expertise! 

I am in search of a multi family investment HELOC with LTV at 80%

alternatively I am hoping to find other options for getting equity out of a triplex we are finishing remodeling. 

best guest at market value is $675-700k 

Loan balance is 435k 

I am in CA for reference