All Forum Posts by: Ceasar Rosas

@Dennis M.

Thanks a lot buddy!

@Zachary Paschke

Thank you for your input! I'd plan to renovate as soon as I buy it before putting in tenants and I'd also pass on anything minor to the tenants costs. It's worked for our single family rentals in the Poconos. 

@Ron Parasole

Thank you for your input. I will be in the area on Wednesday. It'll be great to be able to take you out to lunch and have a conversation about this. We're looking to scale up buy and holds and are trying to find a good place to get started. Poconos is ok, our area Bronx and Westchester are very competitive and low, low, low caps. We're looking for that place within reach to get a few places. 

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey my BP friends, 

I'm hoping to get some constructive criticism on this 2 family, side by side 3 bedroom duplexes in Wilkes Barre Pa. Rental rates can be anywhere from 600-900 for each unit and we are analyzing at the low end. Our utilities will be low because we will have the tenants paying for all of their own utilities. Click on the report and tell me what you think. 

We have experience in the Poconos, Pa, Bronx, NY, Westchester, NY markets. We're looking into the Wilkes Barre and Scranton, Pa areas. Cash-flow seems great, but appreciation not so much. Anyone familiar with this area please chime in. I look forward to hearing from everyone. 

Hi Marta,

What are you looking to do?

@Nicole (Dunlap) Pendergrass

Great job, especially purchasing when you did. I can definitely see how that equity went up so quickly. With the DTI being high, would the HELOC company take into consideration you using part of it to pay off debt? I'm actually working mines out right now to do something similar.

@Melida Maldonado-Perez

I think you will find it tough to cash flow with only 3.5% down, but it can be done. I also tell people to do their numbers as if they were buying like investors do with 25-30% down. If the deal works like that, you pay down aggressively as fast as possible to get to 25 - 30% equity, refinance, dropping your balance lower and getting rid of PMI. That helps people get to the numbers needed. I did this with my 2 family in the Bronx just last December. I still live in one unit and pay out of pocket, but if I moved out and rented it, I'd receive about $600 net in cash flow.

@David Medina

I'm actually not to far from Parkchester at all. If you know those units, you know that just not to long ago 1 beds were selling for 70k, 80k, now try 150k!! Crazy.... Practically the entire Bronx is on fire right now. Developers are especially targeting South and West Bronx, but smaller mom and pops are targeting East and North Bronx.  

@Ken Yeung

Hi Ken,

I think it really depends on what you're looking for. Are you looking for immediate cash flow, appreciation, what type of financing? While you can still cash flow in the Bronx with a 25% down payment, your cash on cash is not going to be the greatest unless you are doing value add. The potential for upside in one of the fastest growing counties in America is what's driving investors from all other areas to invest in our borough. I've seen people easily sell something bought just a couple of years ago and walk away with over a 100k. I personally have a 2 family and instead of selling I'm using the equity to get into something else. Hope this helps, feel free to reach out. 

@Ben Toth

We actually just joined EXP last week. Jumped over from KW and it was a tough decision. The model EXP has was something we had considered looking into building before we even joined. Now unlike others we weren't hard sold, but it does happen. To be clear we have been affiliated with Exit and Keller Williams and all companies that allow an incentive for recruiting do have those who seem very pushy to recruit. While, sure we will recruit and bring people in that is not our main focus. Our main focus remains sales and investments. Having some of the best technology, a good starting commission split at 80%, getting to a 100% commission after 80k gross, owning stock in the beginning of a company that is looking to be in the top 10 soon were all the reasons we joined. 

Now with that being said, if you are new, you should definitely look into becoming part of successful team to help you actually be successful at real estate sales. If you are experienced and a self starter, then consider it you being part of a franchise. We have a goal of opening a boutique type office for our team for trainings, meetings, etc... We believe in the virtual, and know it's going that way, but until it's completely there we'd like to have an office to hold meetings. Something like a wework space in the Bronx. 

I hope this helps buddy,

@Chris Mooney

Just like everyone said above, if it isn't in writing it practically doesn't exist when it comes to real estate. If your lease didn't state it and you try to renegotiate, a landlord isn't going to go for that. I learned a long time ago to be a stickler about the paperwork. I've had people say this and say that, but were to worried to put it in writing. Take this one as a lesson to anything real estate related you do. Always, always in writing. Good luck buddy!

Excited about this event on Wednesday! We're going to have a great turnout.