All Forum Posts by: Vincent Priore

Very interesting thread for me as I have been trying to determine whether or not to continue paying additional principle on a property.  Went through the analysis and here are my conclusions:

This is on a 30 year fixed at 4.5%

- Stop paying additional principle today:

- Receive a ROR of 2.45 for the money I already invested toward principle (started making extra payments very early on.

- Continue at my current rate of paydown:

Receive a ROR of .98 over the life of the loan

When you do the math it makes drawing a conclusion very simple.  As has been said many times, this is all related to your personal goals and tolerances.  This property is in a very stable area with a solid rental base and will realize steady appreciation, so my decision is easy.

Glad I found this thread and took the time to work this out, for me, I'm much happier putting my money to work elsewhere.  If you are wrestling with a decision like this as I was, take the time and do your homework.

Appreciate the feedback all

I own a successful small business that's located in a small retail strip. We have just over 50% of the square footage, and there are three other business located there. I would like to buy the property but I believe the value is around $1.35M. I don't have nearly the cash I would need to go the conventional 30% down route. I need some advice on how to creatively finance this deal. I'd like to keep my business where it is long-term and would love to own the property.

Excellent tool, thanks for posting!

I use Chase QuickPay and love it, no fees and the transactions are seamless.  If Chase is not your bank, not worries, most banks offer a similar service these days.  

Originally posted by @Ellis Paul:

Where is a good place to search for multi family properties

 I would recommend any blue collar areas with close proximity to means of transportation (major highways, rail/bus lines).  Generally those neighborhoods consist of a good mix of homeowners and renters and have plenty of 2-4 families sprinkled in them.   Wiki the towns and find latest Census data, that's a good tool and will provide solid top line data about the area.

Thanks Donald, appreciate the info and vote of confidence.  I'll update my profile and get involved in the community soon....

Hello All,

I am new to BP and a relatively novice investor with 4 properties currently, two 2 family homes and 2 small commercial properties.

Commercial property A is doing very well, I have a solid amount of equity and cash flow.  Commercial property B is doing OK, decent cash flow, but holds a lot more potential.  Currently, it has a 2 family home and several parking garages that I rent out.  However,  I have already met with the building inspector in town and he agreed that I can put a 12 unit apartment complex on the property.  This is in Montclair which commands very good rent.

I have a "day job" but really want to build my real estate portfolio in the coming years.  I know this will be a big project and want to understand all of the ins and outs before committing any serious time and money to the project.  I understand the basics of a construction to perm loan and don't believe I currently have the capital/equity available to move forward.  I need a better understanding of the process and potential financing options out there.

Thanks in advance for any advice and resources,  looking forward to becoming an active member of the community.