All Forum Posts by: Erik Pfundstein

are you still doing the meetups?

Erik

Hi there! I Randomly found this when looking for a different post. Did you ever find any good contractors (or bad) in the new bedford area? I am planning on investing in the area in the very near future as well, i currently dont have any good contractors in that area. How did the property you were working on work out so far?

This is interesting... so lets say you want to BRRR, and you use hard money for the intial buy and you place it into the LLC - when you do the refinance, will it be difficult to find conventional financing because lending companies wont lend to LLCs?

Hi guys im looking to BRRR in near future as a first investment purchase, most likely 3-4 plex. When im looking at properties on zillow, etc (not yet using a local realtor but i will be for MLS) sometimes all you can see are pictures of the outside. I know Brandon on the podcast mentions he usually wont visit a property until after in contract. As my first purchase i will see it myself. But Since i wont be a good judge at estimating rehab costs, how can I come up with a good offer based on rehab needs? Does anyone in here go see the properties with a contractor prior to making an offer? I feel like that is a waste of time for contractor and he probably wont do it more than once. Or do you give it a wild guess and hope to not be too far off, renegotiate during inspection after an accepted offer? What if the number is far off and u need a major renegotiation? How does the conversation with a contractor go, do you always have them use their guys for the work? I feel like i have a good grasp on a lot of the process except the dealing with contractors part... Thanks appreciate any info. Erik

That makes sense thanks for your insight

Hi All, Wondering what are the major factors that everyone considers when looking into different real estate markets? I live in Plymouth, MA. The towns can vary greatly in several demographics and statistics. I would like to see what people’s opinions are on what they look for in terms of broad picture of the markets. If anyone is familiar with massachusetts, the areas vary widely- cape cod, new bedford, taunton, south shore, and of course boston itself (out of my league d/t price) are all much different in price/rent ratio, schools, crime, etc... what are the things that matter most to you and influence your decisions when looking into different markets? My plan is buy/hold or brrrr investing, 3-4 family homes to start. My goal is cash flow, and increasing units over long term. Thanks in advance, looking forward to the insight. Erik

Are you accounting for vacancies, repairs, capital expenditures in those numbers? Those add up.

Thank you all for the info! This forum thing isnt all that bad! 

Hi guys/gals,

I am new  in terms of posting to the website, but I have been listening to the podcast for a while and I've been doing my  education  and research.  My wife and I are both  medical professionals  and we make a decent income but we would really like  to get into real estate investing within the next couple years,  primarily  buy and hold multi family properties. We live in eastern Massachusetts and the pricing for multifamily homes or single-family homes are pretty high  in comparison to the rental income except in some of the more urban  and higher crime areas. 

 My question is I'd like to get some opinions on whether it's a good idea or not to invest in rental properties that  on Trulia for example are in the yellow for crime.  I'm also not quite sure if the property values in the higher crime areas will rise at the same level as the surrounding towns.

 In these areas the numbers do you work and some are around the 2% rule,  just estimating... 

 Looking forward to hearing your thoughts ! 

Erik