Hello Rob,This is an example of the type of investor financing that we have had success in closing for our clients in the past.

Example with conventional I have 20% down, if the refi requires 30% to stay in then the extra 10% is limiting.Rents in the areas I am looking come in on average $2000 mo. for a place costing $250k.

I worked really close with my insurance broker this year to make sure all of our properties were properly insured too because of rate increases and he assured me that my primary covers it and it’s listed on my primary and it’s also listed on the separate umbrella policy.  

It seems like 30-day closings are becoming less and less common.

It’s also prudent to review and update your properties' safety measures, such as installing fire alarms and security systems, as these can sometimes help reduce insurance costs.

We know there are multiple venues to get the leads, some very costly others not, some demanding tremendous effort (like going door by door, driving for dollars , or making thousands of cold calls etc.) , others not so much (mass mailings, for instance).

NY & NYC aren’t as great of markets for wholesalers because they have some stricter laws surrounding disclosure and closing which make it a little more difficult to operate there.

The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

Or are holes after move-out just part of the cost of doing business?

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!