All Forum Posts by: Walmsley Gedeon

Thanks Andrew

Hey BP Family , I wanted to get some tips on what is it are the best rent payment apps for iPhone. Preferably one that’s free to make rent payments for the tenants. Something that will help me manage the rental process. Recommendations anyone?! Lay it on me! Thanks BP, WG

Kyle M. Thank you very much. I've actually read rich dad poor dad years ago. It sparked my initial interest and is probably why I have property now. But the rest I will definitely pick up.

Hey BP Family , I wanted to get some tips on what books should I purchase to get my investing portfolio off the ground? I purchased my first 4-plex which is still in renovation which should net me around $1200-1500 a month (estimate). Now I don't have much capital left and I want to keep moving forward. I don't have the 20% down and hard money is scary to me. So I figured I would get knowledge while I save for now. What books do you consider as must haves or helped you tremendously while getting your rental investments off the ground? Recommendations anyone?! Lay it on me! Thanks BP, WG

It doesn't qualify because FHA requires the home to be in a certain habitable condition prior purchase because the point of the loan is for it to be owner occupied. A conventional loan won't have that requirement. If the home needs repair the you should apply for a FHA 203k so you can include the renovation cost in your loan. I'm not an expert but just a suggestion. George Gao

Hi guys, I closed on my first 4-plex back in April with a 203k loan from hell. Because my loan had taken some time to be purchased by a bank my contractor has halted renovations until the loan was sold to a bank and draw could be processed for him to continue the work. This messed up my timetables because I had planned for the house to be habitable within 3 months of purchase which was very feasible until I ran into this snag with the renovation loan process. My home is no where lose to being finished and it's looking like this will be more like a 6months process. It's really cut into the funds I had left over. My question is once I get this property up and running it will take me a little while to recoup funds and I want to get this one rented and start looking for my next deal. With little to no money how can I make that happen sooner than later? I just want to know what are my options if I don't have much liquidity to play with. Thanks BP Family

Marcus Lawson hey where is this group meet? I'm investing in NJ now.

No! That is a red flag.. it might be the only 3months they have because of tax Season. What type of job do they have? Why is the score so low? Were they unemployed for a low period of time? Don't think of the upfront money. Think about it in a long term sense. Tony Yi

Vincent Priore thank you so much for the extension. I always have questions and it would be great to have a liaison that actually knows the area I'm in. I'm actually a New Yorker and have family in nearby Hillside and Plainfield but am not familiar with Irvington per say. My family member also invest in NJ and I've been using his ear as a sounding board for any detail on the area but I would love to have a more objective suitor for the job. So very much appreciated. Once again thanks. I'm on a nice residential block with Irvington Park at the end and very close to the Irvington bus station. I figured I want to get the most for my units with that being said. I was also considering adding in the microwaves to the kitchen appliances. What's your take?

Brian G. I appreciate your suggestion but tell me why? I'm looking for as much of basis for comparison as possible. Andrew Johnson I see what your saying. The appeal is only as good as the guy next door. Again it's a c-class neighborhood so there is probably not much competition in regards to decor. I guess saving the dollars is more practical. This is my first go at this so I'm not sure if I should be aiming higher or am I already on target. I appreciate you all. Thank you.