All Forum Posts by: Vlad Stinga

This is the location.

3rd floor, use the front entrance. See you all there.

Happy New Year! And thanks!

I would be more than happy to help any way I can. If you can't make it, shoot me a message and I'll give you some great people I worked with and that helped me with this property and also any other info that might help

Greetings new and seasoned investors! I recently purchased my first property (a 4 unit apt building) and I am about to finish the renovation on the first apartment. 

I'm organizing this meet up at the property location , and we'll go through the whole process from financing to finishing touches, problems along the way and lessons learned. 

If you are like I was just a few months ago, afraid of the unknown and of pulling the trigger, I hope this will help you take that next step.

Afterwards in a couple of weeks I'll host another meet up at the begining of the next renovation to go over the renovation plan step by step.

No fees, not selling anything just giving back to the community that helped me start on the path to success.

You don't have to be a newbie either...anybody interested in real estate with any level of experience is welcome.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Warren.

Purchase price: $430,000
Cash invested: $100,000

First property! Will update once it's fully stabilized

What made you interested in investing in this type of deal?

Biggerpockets

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

FHA

How did you add value to the deal?

Rehab

What was the outcome?

almost 300% rent increase

Lessons learned? Challenges?

Nothing ever goes right the first time

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Amanda Bruneau - real estate agent
Bobbie Maurer - lender (first home mortgage)

Do you need someone who hasn't done one before to go over it and ask questions? that way you can see what's missing and what a newbie would need to know step by step. if so i'd be glad to help 

Yea I found myself explaining to the Loan Officer the requirements under the law for a property to qualify as a primary residence...thanks a lot I'll keep looking for a good one.

I live in Massachusetts, work seasonally as a bartender on an island, and want to buy a house in Tennessee to live in the off season.

Every summer I make decent money working in MA so I would like to keep doing that and still qualify for an FHA loan in Tennessee. I would live in TN at least 6 months so it would qualify as a primary residence.

Some banks told me that I have to work in TN to buy a house there but I don't see the logic in that. If I make enough money doing what I do and I live enough time in the house to qualify as primary residence, why would it be a requirement to make less money working in TN.

Any lender out there who's handled similar cases?

copy paste the part of the lease that talks about this specifically so we can better help

What about the islands? I am preparing to do a test mailing campaign on Martha's Vineyard to see if anything pops up that I can wholesale. 

pull the data from the county records. Zillow is like wikipedia, informative but how much can you really trust?