All Forum Posts by: Annwar Matani

I’m reviewing an off-market 3 Bed / 2 Bath Colonial in Englewood, NJ (not listed on MLS) to determine if it’s worth presenting to my investor clients.

• Price: $515K (negotiable)
• Rehab: $75K–$100K
• ARV: $760K+

Before I move it forward, I’d like to hear from experienced investors in the area:

• Do the rehab numbers align with what you’re seeing locally?
• Would you approach this as a flip or rental?

@Mike Klarman This was the best thorough explantation from A to Z thanks! 

@Bob S. I was actually looking into Cleveland first. However I am considering Philly because I am nervous about managing a rehab so far away. 

@Greg Kasmer Good to know I will look into that much appreciated. 

@Ronald Isgate thanks will reach out soon 

@Mohammed Rahman thanks for the input I agree I should be networking. 

@Eric Greenberg Good questions to think about, will reflect on it thanks. 

Hi everyone

Can someone explain to me from start to finish how does a HML work? I always get scared when someone suggests HMLs... I literally think of loan sharks or getting your house or assets taken away from you when I hear it LOL.

What does points mean? How much are closing costs? And I understand (I think) your making interest only payments until you pay back the loan? What if I finish the project in 3 months do I owe any more interest on it?

Debating to use a HML for a flip or a BRRR. I'm trying to pinpoint my financial strategy in attaining these projects and HMLs are always suggested to me.

My goal this year is to buy my first investment. I want to operate from a place of logic, not fear. This forum so far has helped me very much in learning.

Thanks in advance

Hi everyone

Can someone explain to me from start to finish how does a HML work? I always get scared when someone suggests HMLs... I literally think of loan sharks or getting your house or assets taken away from you when I hear it LOL.

What does points mean? How much are closing costs? And I understand (I think) your making interest only payments until you pay back the loan? What if I finish the project in 3 months do I owe any more interest on it? 

Debating to use a HML for a flip or a BRRR. I'm trying to pinpoint my financial strategy in attaining these projects and HMLs are always suggested to me.

My goal this year is to buy my first investment. I want to operate from a place of logic, not fear. This forum so far has helped me very much in learning.

Thanks in advance 

@Jonathan Greene Thanks for sharing I'll look into those neighborhoods. 

@Kevin Paulk wow block by block! I'll keep that in mind. For sure thank you. 

@Patrick Drury thank you yes I am looking into that. Would love to meet other investors and like minded individuals. 

Hi everyone

I have been researching markets and I had mentioned in my previous post I was interested in investing in the mid west. I live in Northern NJ and as I mentioned the barrier of entry for me in NJ is too high. However after speaking with my husband (who is totally on board and supportive) I feel it would be better to pick a market in my "backyard". That "backyard" I was looking into is Philadelphia. I am only 1.5 hours away and I want to be hands on- my strategy is to scale quickly so I am looking to BRRR. My first out of state rental would be "safer" buying turnkey however I won't be able to scale quickly. Anyway if you are an investor in Philly I would love to connect. Trying to establish my team so any recommendations for realtors, contractors, lenders, etc will be appreciated!