All Forum Posts by: Zalman Ives

Otto, owning any real estate is both a challenging and positive experience. To offset the challenge a little, it is best to anticipate and plan for the challenges. Underwrite your deal conservatively, including extra vacancy and capex, and use out professionals in each area (agent, PM, handyman). Best of luck on your journey!

 Hi Dylan! Great that you're jumping right into real estate investing as you move to Syracuse!

Very good opportunities right now in Syracuse, though it is important to choose your investment carefully.

I own a couple of student rentals in Syracuse. I am also an agent covering the Central NY area with the help of a partner. Feel free to reach out!

@Waleed Abduelal Tell Taiquis all about your upcoming meetup!

 As an agent myself who has onboarded agents to represent me in 8 different cities, I love to throw around a few terms an investor or someone with experience representing investors and has knowledge in the investment industry will recognize readily and then wait to hear if they're confused. Many agents are great at selling a forever home to a young family but have no idea how to help an investor build their portfolio. So, wherever you find them (BP, Zillow, Clever, Facebook, Instagram, LinkedIn), test their knowledge.

Also, never sign an exclusive agency agreement. You want to be able to do deals that any agent brings you and if things go south you need to be able to find a new agent.

 Hey, I have found, in addition to all other methods, that agents are good sources of off-market properties. Good agents and good wholesalers often work together to source and offload deals.

I am a flipper and I've been following Newark for a while. Happy to connect now and when I have leads for land or tear-downs I can pass them on to you.

I think it really depends on what type of agent you are trying to attract.

New agents would likely value training.

Experienced and successful agents would likely value a favorable commission split.

Part time agents would likely value marketing and leads.

 Hi @Arunabh Ganguli

I am a real estate investor myself implementing the BRRRR method to scale my own portfolio.

I am an agent based out of NYC and I am happy to connect and help you find your next investment property!

I may also be able to connect you down the line with other local investors once I get to know you better.

Reach out to me directly and we can talk next week.

Hi Lenders & Knowledgeable People :)

I have a client who cannot show personal income but has a business with steady and healthy revenue.

They're looking to house hack and are wondering if it is possible to put down 3.5-5% on a primary residence that is purchased under their business?

Thanks in advance!

I spoke to a loan servicing company today (found them via Pace Morby YouTube video) and they confirmed that this doesn't help. It would be up to the lender to decide whether or not to count it, but the servicing company doesn't report to credit bureaus and most lenders will count it.

 Hey, thanks for posting this!

Can you please clarify two things from that page:

1. "the party making the payments is obligated on the mortgage debt" - what if I'm not approved to assume the (income based) loan and I want to instead do subto, does that mean I an not "obligated on the mortgage debt" and the loan will remain on the seller's DTI? In other words, is this option only for assumed and co-signed loans and not subto?

2. "the borrower is not using rental income from the applicable property to qualify" - does borrower here refer to the seller applying for a new loan or the buyer of the subto deal? Again, is this saying they need to be approved for and assume the income based loan, and subto doesn't work?