If this is something you are interested in, let me know and I will send you our projects. 

However, given the price points in NYC, I am looking to southern CT so that I can start small for my first project.

Purchased on 4/19/2024 for $20,000, we invested $45,000 in strategic renovations to transform the property.

Hey all,Just wanted to introduce myself - bought a duplex in Los Feliz over the summer with a few business partners and will be renovating the property while living there.

@Ofir R.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Are there specific lenders which are easier to work with for small multi projects?

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name? 

To clarify, I didn’t invest in a “fund,” but rather purchased a note for a specific fix-and-flip project.

Orange County Projects  @Bryant Brislin