All Forum Posts by: Andrea Lane

In or out of state the question is the same.  What will the house appraise for?  What is the appreciation in your market?  If it will not appraise for the asking price, the buyer will need to have cash or alternate financing.  If I were looking in your market I would consider it.  I look at cash flow and appreciation (along with a long list of other criteria) - not necessarily asking price.  

Martin I run a REIA on Thursday evening @6:30 EST. If you are interested let me know and I will send you the info.

The Alamo REIA https://www.alamoreia.org/ is part of NREIA and they usually have allot of value at a low ticket price.  You will also meet many investors in your area.

I have used ARMs before to purchase rentals, because it made sense in the market. Interest rates were high and they were not likely to stay that way forever. I also knew I would sell the property if rates went higher if I needed to. I am not sure why you would use an ARM today. 30 year interest rates are historically low, with an ARM if rates go up you may not be cash flowing on your property anyway. If you are looking for a long term hold, I would find a lender with a 25 or 30 year amortization at about 4-5% and make sure the cash flow and long term projections make sense.

Where in Pennsylvania?

Martin,

If you are looking for in person meetings, where do you live?

I run a zoom REIA on Thursday at 6:30 PM EST. Let me know if you are interested

Talk with you soon

Cameron, you can start by finding real estate network groups near your college or near where you live.  There are usually new and seasoned investors there, many willing to share their knowledge.  You can also study for your real estate license.  That will teach you rules nd regulations, not allot about investing, but it is very helpful if you want to be a long term investor.  it is also a way to start making money for deals.  I am not a big proponent for wholesaling (more because of the market) but if you can find great deals finding buyers is not an issue right now.  

What is your major?  Taking business courses is good, but if they offer investing classes you may want to sign up.

Feel free to reach out if you ever want to talk.

Vinay

I do not work in that area, but I have investor friends who do.  

Is this your first time investing?  if so here are some questions you should be able to answer before you make a decision.

What is your investment strategy?  Have you done your market research?  What has the appreciation been historically?  Will you have cash flow on day one or do you need to increase rents or find better tenants?  Do you understand the tenants rights in NJ? 

Let me know if you would like to have a conversation.

Ashley,

A home warranty maybe good idea whether you are living in, selling or renting a house.  Unless you are a handyman, this can save you time and money.

We are looking for a new property manager in one location and she will only take homes with a warranty, even if they have been fully rehabbed. 

Jorge,  

Do you know what area off Pittsburgh you are looking at.  My company works in the east.  Let me know if you would like to talk.

Eden, 

I like your approach.  I am always interested in working with new investors.  

If you are interested in talking, let me know and I will send you my calendar.