All Forum Posts by: Greg Szymbor

Welcome Jeff!

Keep the knowledge rolling in and you'll be doing BRRRs in no time!

Hey Timothy,

I invest in the Southern Maine area with 47 residential units currently owned and another 16 units under contract currently.

@Keri J Perez

I always run vacancy at 5%, my company has been between 2-4% vacancy over each of the last 3 years. It is always better to play it safe, even though you are correct on the strong demand for rental housing in Portland. Has far as your ROI….that's far too low, I aim for around 10% minimum ROI after debt services. Portland is a very nice area and a solid place to live, but in my opinion the market is just too hot to touch currently; we have only come across a few deals worth looking at all year!

@Tim Herman - I agree

 Keri,

I use around 10% capX and 5% for monthly repiars of gross rent. These numbers can vary due to age of the building, amount of time you plan to hold the investment, and/or any immedaite repairs you and/or the seller make. I have a properties that were oringally constructed in 1810, new construction, and plenty in between; so as a fellow Maine investor you need to be aware that there are alot of old buildings out here and they will require a "safer" capX fund!

Best regards

@Eddie Gonnella

Looks like the BRRR turned out great! Will you be looking to add another "R" and repeat this process again?

Think back to your first real estate deal...it could have been 20 years ago or you might have just left the job site! I’d like you to share some knowledge, a tip, story, and/or any advice you treasure most from your first deal in real estate?! Please share your experience in hopes to help others avoid mistakes, learn , share a laugh, or just continue their real estate education through you! Thanks!!

Hey BiggerPockets!

Looking for any; information, referrals, advice, etc. on Angel Investors!

I'm looking to raise capital to purchase long term buy and hold real estate deals. I work with a local portfolio lender (80% LTV) and I'm looking to raise the down payment of 20% via loan product paid back over 36-60 months.

Thanks for all responses! and feel free to leave a message! 

Yes! This reminds me of one I recently heard "Fail often, fail forward". It's awful how most individuals are raised thinking failing is a bad thing. Make it a learning experience :)

@Daniel Lynch

It is my opinion that two people living together should share responsibilities towards the cost of living. That could be help paying for heat, groceries, electricity, cable, etc. 

Story - My first 'house hack' was a four-unit (I was 100% owner). My ex-girlfriend moved in a few months after closing and renovations had taken place. I was 100% honest with the fact I owned the property and the other rents were covering all the expenses for the property (PiTi, heat, water, sewer, etc.). After we discussed this, she offered to pay for groceries and electricity; which we both felt was fair. All worked out great...well as fair as the financials haha.

Best luck to you!

 Couldn't agree more!