And once they're finally gone, it'll take me some time to re-rent it (roommate in the lower, eventually new tenants in the upper) --- which will be difficult after October.  

hello everyone i used to be a member a while back and got a email from Brandon and sat in his webinar today with my business partner/ fiance and said self why not re create your profile and share with the world of bigger pockets what I'm doing in NYC.  

As a small startup trying to educate myself on all things legal and RE, cash flow, utilizing online resources ect, BP has been priceless! 

I too have been loving BP for information and am getting back into the investing realm 😉 just finishing my RE license here as well and networking with other like-minded people.

This may be a long post, but I thought it would be good to walk through everything step-by-step, and explain my thinking along the way.If you want to stick with me through it all, here we go:I was not going to be getting a conventional mortgage for my first property for a number of reasons.First, I am still annoyed at the hoops I had to jump through to get a mortgage for my primary residence.Second, my liquid cash was on the lower end.Third, the properties that I would need to start out with would not be financeable anyway.Fourth, my DTI is on the high side, due to the decision that we made to take out a HELOC to complete interior improvements on my primary house.So, I decided that my path was going to be to form a single member LLC, and take a loan from my 401(k) at work to finance the down payment.Since I do not view the 401(k) loan as a long-term solution, I am treating like hard money, and pay it off ASAP.So, my first deal would be a flip, or a rental that was such a good deal, that I could re-fi out and pull all my cash out.I decided to reach out to the commercial lending department of the local credit union, which I am a member.The person I talked to (who became my lender) is fantastic.I told him what types of properties I was looking for, and that I’d look to turn them into rentals, or to flip them.I will never forget his response, which reminded me why I love this credit union.He said:“Typically, the deals you are talking about are much smaller than the deals we like to do.However, we also realize that you can not get to that level unless someone helps you get there.So, if the numbers make sense, we will see if any of our products fit.”Awesome!

We did not even get to the point of price discussion, and I only got the phone number (without texting capability), the name and mailing address.

Write it up as a personal letter.When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash.

I am finishing up getting my RE license, and want to start working some transactions.

This could be a Property Manager or simply a local RE agent who will do it for a fee.

I would be more than happy to discuss.