All Forum Posts by: Brian Sanchez

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For our first out of state investment should we start with a three bedroom or be open to all possibilities? Is there any advantages or disadvantages in starting with a smaller home? I tend to believe it’s based on location, demographics, rent costs, and appreciation of area. Any advice?

When looking at properties, is it important to stick to only a certain size home? I found a couple 2 bedroom SFR homes in Pittsburgh where my wife and I have decided to invest. The town of Lawrenceville to be exact. We had discussed focusing our efforts and search on a 3 bedroom, but I researched the area and have seen it is a great neighborhood for working professionals and close to downtown and coffee shops, bars etc. If we can get it for the right price we could roughly cash flow a few hundred dollars after expenses. Still playing with the numbers, but what are the thoughts on 2 bedrooms where the neighborhood tends to have a majority of 2-3 bedroom SFR? Should we stick to the plan?

Looking for recommendations and referrals on preferred lenders for traditional mortgage. Thanks 

Looking for some advice on different companies used by BP community for BLOC. Please message me with companies you have used that provided you with satisfaction. I have a few I’m looking at but would love to hear what the experts are saying. Thanks.

@James Gates how did you find the purchase? HML? business credit? Cash? Traditional lender?

Hey BP, I've been researching Pittsburgh, PA for some BRRRR properties. I found a little gem in a great location next to the university. Great cash flow from what I can tell. I just need to figure the hard numbers out. I am looking for a local and reliable Inspector, Appraiser, and GC to take a look at the property for me. Any recommendations would be awesome and appreciated.

@Charlene McNamara on the high end of rent

@Charlene McNamara the PITI is approximately 1k ($250x4 homes)

The approximate monthly income of $700x4 homes is 3000.

3k-1k is the 2k I would clear each month.

Last night I went to my first meet up group with Temecula Valley Real Estate Investors. The night was very informative and the presenters and guest speakers appeared to be very educated and have been in the industry for 30+ years. At the end of the night a deal was presented by the guest speaker in collaboration with the Hard money Lender. The guest speaker/investor said he has exclusive rights to some properties in Akron, Ohio. The properties are tenant occupied and managed by property management. Current rent is 500-700 or more a month. The deal was the HML would provide up to 75% and buyer funds the 25%. The total cost for one property was 45k. Or you can get 4 homes for 160k. The total p.i.t.i. Is roughly 1k/month. Ultimately a cash flow of 2000/month. The term is 7 years, after which the home is owned free and clear. The Homes are in great college neighborhood.

Everything sounds great and I did not feel pressured or that he was trying to sell me. He provided the info and discussed how traditional ways of finding deals is difficult and requires a lot of time. The deal was being presented to us because of his relationship with the HML and he wants to help give back to those looking fir a start.

I am weary as this would be our first deal and I would need to put a 40k DP which I would have to use an unsecured loan to fund. I have been looking to invest it out of state real estate and i have researched Ohio because the cash flow for the minimal cost of homes is very favorable.

What are some concerns or questions I could or should be looking at?