So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

As a wholesaler, having the first look at a property is a cool perk of the skill set. checking to see if the numbers work comes first, but secondly if not first part A, how will the property be managedAnyone investing in multifamily out of state, what’s the difference between the different amount of units?

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

If you want help structuring a scope of work or exploring different financing options, feel free to reach out—happy to offer insights!

5 units make a huge difference in NJ. 

How long it takes to be financially ready is different for everyone.

How long it takes to be financially ready is different for everyone.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

I would pay once and then immediately look for different cleaners or subtract from year end bonus.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?