My name is Michael Ciambra & i am a new investor looking to brrrr in the wilkes barre/scranton area. Ive done my own research and found a few homes but I am wondering has anyone been successful in these areas & if so any advice?
@Marc Winter would be a good contact to reach out to.
@Todd Rasmussen okay i will thank you
BRRRR should work in both the Scranton and Wilkes-Barre areas. You will just need to find the right deal where there is some opportunity to value add at the beginning.
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.
I have done it several times.
You need to buy it at the right price.
Holding in an LLC will create issues with the refi and you'll need to find the right bank. Some will give artificially low appraisals .
@Dan Marriggi what issues does it create holding in an LLC?
Bank loan issues.
you'll need to get a commercial loan with an llc generally speaking
Hi Dan, so you recommend creating the LLC AFTER refinancing?