All Forum Posts by: Tom Chen

Hi BP!

Anyone in Syracuse tomorrow?  I should be in town by 12 or 1 pm and have a 3pm appointment so was hoping to catch up with someone and grab some lunch.

Will Chamberlin Are we still good for the 2nd?

Hi everyone,

My lender is trying to tell me the Homestyle Loan will take 6 months...can anyone who has used it, confirm this or is she trying to dissuade me from using it?

Thanks in advance!

Hi there, sorry to bump...was hoping someone might have some advice?

any advice?  Thanks in advance.

Hi guys, Here's a bit of a predicament. Currently, I plan on investing in Syracuse. Multi-family homes on the low end can be around the $30k range that needs a lot of work or up to $80k that won't need any work. I have about $20k liquid... The issue is, if I buy a low end property, I don't have enough to do the rehab. If I buy the higher end property, I'm afraid I won't be able to BRRRR out because the area doesn't appreciate in value. What would be the best move if you were me and this is the first deal? Secondly, I've asked a lender about the Homestyle loans and she said that it takes about 6 months for approvals? For anyone who has used that type of loan, is that your experience? Thanks in advance!

She sounds ridiculously unreasonable. If she was more reasonable, some of the podcasts have suggested paying her to get out. Makes it less combative and possibly saves your apartment from rehab. 

can anyone confirm this, I asked a local lender about Homestyle loans and they said it takes about 6 months for approvals?

Hi guys, Here's a bit of a predicament. Currently, I plan on investing in Syracuse. Multi-family homes on the low end can be around the $30k range that needs a lot of work or up to $80k that won't need any work. I have about $20k liquid... The issue is, if I buy a low end property, I don't have enough to do the rehab. If I buy the higher end property, I'm afraid I won't be able to BRRRR out because the area doesn't appreciate in value. What would be the best move if you were me and this is the first deal? Thanks in advance!

Franco Li , Thank you! They look awesome!