Thanks for the plug :) @Jonathan Nixon @Michael Barbari @Kyle Overman Gentlemen, check us out at www.meetup.com/CAREIA or our main site www.careia.org. we meet in Lisle (western Suburbs) on the 2nd Monday of every month.

Hi all, I'm in the early stages of creating a REI investing plan, and to know whether a particular path forward is achievable I'd like to hear feedback whether this hypothetical scenario would get financing, either from a local/regional bank or commercial lender.The Example Property45 unit apartment complex in western-PA$2M purchase price$500k down (25% LTV)45 units @ $44k/doorNOI $170k per year (1.8 DCR)30-year amortization @ 5% (just guessing.

Apparently they are both heated via large gas stoves in the kitchen (i.e. the stoves are old fashioned and are supposed to be used for cooking and heating). 

I live in Tarpon Springs (just over the county line and work western Pasco county from Pinellas County on the south to Hernando on the North.

Hi folks, I'm Steve, I actually joined up this site about 4 years ago when I was initially looking into investing. I guess at that stage I had a bit of a downward slope in my income and life situation however it has a...

ctrentalguy - I'm guessing your in the western/central part of the state..right?

No, Remember this everyone.His perception is his reality.He is probably older and has been doing this the old fashion way and has a lot and realizes that he doesn't want to bother with this one as much as he thought he did.TIME AND CIRCUMSTANCES is always my perspective.

Well my plans are to start a holding company (The Murray Group) with all of the varying business ventures that I plan to go into including:MediaEntertainmentPublishingReal EstateFashionSports MarketingI am currently working on a degree from Parsons in fashion merchandising.

Anyone out there from the Buffalo New York area or Western New York WNY?

I was figuring something like the banks figure (0.75 x net income - PITI = cash flow) using 50% means I would need a smaller mortgage for it to be financially self sustaining.Maybe I should look into doing a couple rehabs initially that I would sell outright to grow some capital and continue on in a smiliar plan as above, but borrowing less.PS - I should mention that I am in western NY where the real estate market has minimal fluxuation in either direction historically.