All Forum Posts by: Wei Jie Yang

I'm working on getting a HELOC on my own personal residence. I own 4 rental properties in LLCs in two other states. I'm wondering how a lender factors these rental properties in to my ability to get a personal HELOC?

If you have them for more than 2 years they look at your tax returns to determine whether you are making money or not. I beleive whether they count your paper losses as actual losses or not is determined if your lender has any overlays or not.

Someon ccorrect me if I am mistake.

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Las Vegas, Nevada

Quote from @Bruce Lynn:

You don't have to go at it alone like what you have done already. That's risky. Partner in other people's deals. Look for some NNN funds. Network with commercial brokers and ask them for referrals to reputable investors. People always need money to do deals. Look at some places like crowdstreet.

I wouldn't even know what to say to a broker. I feel stupid calling one at random and just saying I have an interest in buying commercial with no real criteria or research done before hand.

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Hi everyone,

Can someone provide a contact for Brooklyn PM? I might have a property located in East New York that I would want managed.

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New York City, New York

Can you explain or point me to the direction on how the fed cuts affect prime rate?

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Quote from @Amir Khan:

So your 5-plex will help you with your ability to get into commercial real estate. Here are 2 key factors to prepare yourself for your entrance into commercial realm:

1. Searching and putting LOI on commercial deals through buyers brokers (or directly via listing broker)

2. Lining up your commercial lending.

I suggest, focus first on small commercial multifamily: 10 ~30 units. This will help you buy and manage larger deals.

I have a dscr lender that does commercial properties. At least mix units and small apartments. Idk about the others.

Is there a particular market you would suggest to review/analyze?

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Hi Everyone,

Very basic question, how do I get started in Commercial properties? I Currently own 8 piece of real estate. 7 long term rentals. 1 str that is currently in the furnishing stages. I am under contract for a 5-plex which is technically a commercial property. I will probably be doing 2 more STR's this year.

I would like to at look at opportunities in the small tier commercial (under 1 million dollar) category to see what's out there. Is it just browsing thru loopnet? How do I talk to brokers when I honestly don't know what commercial category I want to invest in and am more in the stages of opportunity research?

Thanks all,

Wei

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Quote from @Shawn Mcenteer:

Quote from @Daniel McDonald:

@Shawn Mcenteer you cover that area?

Absolutely. Will be all over North Jersey today and tomorrow checking out multi families.

Shawn, I live in the NYC area, where do you re come d to actually start looking for investment property in NJ? Honestly while I love in New York I've always invested in the south, the things I've seen numbers don't make an ounce of sense, but the places I look are limited.

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Newark, New Jersey