All Forum Posts by: Bryant Tumbelekis

Bryant Tumbelekis has started 4 posts and replied 67 times.

@Matt Harris is your guy! Very trustworthy and hard worker.

Originally posted by @Abe Butel:

Hi,

My name is Abe Butel and I'm new to RE investing and this site.
My cousin has a few 2fam properties in Rochester and looking to add more and I'm considering partnering with him. Based on some reading I've done on the site (very informative btw), I'd say that our main goal would be something like the BRRR method. Neither one of us lives in Rochester but he's seriously considering moving there this summer. His properties are currently in 14621 and the ones he's looking into are spread out between 14621, 14609 and 14605.

My questions are as follows:

1)Can I get recommendations for a good CPA? Someone who can also provide guidance as needed.

2)I've read and heard about people's bad/terrible experiences with management companies. Are there any good and trustworthy ones to be found? If my cousin ends up moving there this won't be relevant but I'd like to explore all options.

3)Is it easy/hard to refinance properties in the areas I listed?

Thank you in advance.

0 Votes

Upstate New York, New York

Happy to share my insight on the market with you, @Rachel Rountree! Feel free to shoot me a message and we will set up a time to chat.

1 Vote

We actually have a Fayetteville based REI group called Pints & Properties. This is hosted by @Shelby (Osborne) Johnson on the second Saturday of every month. If you want to connect with both new and experienced local investors, this is the place to be. We have New Investors, Experienced Investors, Wholesalers, Agents, Property Managers, GCs, and Highly Qualified speakers.

Let me know if you ever want to check it out!

1 Vote

Originally posted by @Ryan Koehler:

Originally posted by @Justin Tahilramani:

@Ryan Koehler - What facts are you basing your opinion on? It sounds to me like you don't know the Fayetteville market as well as you think you do.

Hi Justin. No, I don't know the ins and outs of Fayetteville from a neighborhood to neighborhood perspective. This is simply my high-level opinion as someone that works in the multifamily mortgage banking/lending space that does a lot of business with the GSEs and large National Banks in North Carolina. Generally Fayetteville is regarded as one of the least desirable markets in the South East from a lending perspective so our underwriting is more conservative here. Doesn't mean it's not a good investing market!

I often find that some of the "least desirable markets" for a lending standpoint, tend to be some of the 'most desirable markets' from an investing standpoint. I appreciate you clarifying your statement, because it came off as a statement regarding the Real Estate Investment market.

Ryan- Let's connect. Always interested in strengthening my relationship with motivated lenders!

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Great work, @Karen Beam Browne! Fix & Flip is a great strategy for the Fayetteville market. Increasing amounts of investors are flocking to Fayetteville market utilizing the BRRR strategy with success. However, I do see a much larger ROI for Fix & Flip in Fayetteville. Keep up the great work. You should consider checking out our REI meetup called Pints & Properties. It takes place the second Saturday of each month, location varies. Best of luck!

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He doesn't need to physically move to those markets in order to be successful. All of the best real estate investors diversify and handle a lot of out of state investments. You go where the deals are and the numbers make sense. I am located in Fayetteville NC, but also invest in NY. If the numbers make sense and you assemble the right team, you can invest out of state quite easily.

2 Votes

@Aakash Tandel happy to connect and provide information regarding the Fayetteville NC market. Feel free to DM me.

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Welcome to Bigger Pockets, Cameron! Good luck with your investment journey. I invest in NY and have found success. Let me know if I can ever help you in any way.

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Gil is the real deal! Great meetup to attend folks. Hopefully I will be able to make it to this one.

2 Votes

@Andrew Postell thanks for the recommendation!

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All Forum Posts by: Bryant Tumbelekis

Bryant Tumbelekis has started 4 posts and replied 67 times.

Post: Newbie - questions about Rochester

Post: Connecting with Fayetteville NC Investors

Post: Does anyone know of investors doing business in Fayetteville NC?

Post: Newbie from Washington, D.C.

Post: Fayetteville Fix and Flip

Post: Newbie from Washington, D.C.

Post: Newbie from Washington, D.C.

Post: New member from Stony Point, NY

Post: Pints & Properties, REI Meetup

Post: ISO- NY Lender that offers delayed financing