All Forum Posts by: Frank Avallone II

Happy to hear you are getting started @Antonio Reybol, Jr.! I would love to share my experience with you!

Thank you! @Dmitriy Fomichenko

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $599,000
Cash invested: $45,000

One of my favorite properties so far! A lot of opportunity on this!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $285,000
Cash invested: $17,000

Another multi-family purchase from earlier this year I made in my area! Always excited to get another one in the portfolio! Thanks to the agent for helping find this off market property.

@Gary M caceres, @Jake Handler could definitely help you out with this!

Hi @Kevin O'Brien, you would typically need to wait the 6 months from when you purchase the property.

Hi @Cade Antonucci, as others have mentioned it is possible to make happen. Just need to look into the details of the scenario a little further. Is this third property you mention the one in question for FHA or this is a 3rd investment property?

Hi Gary,

When I was starting out or if I enter a new market a good first step I would do is talk to a local realtor in that area that knows the market. They should usually be able to bring some insight on this. 

If you don't want to do this you could always check the market yourself and see what similar rentals are going for with and with out parking and with and with out pets. 

I see you are also in NJ. I could recommend someone to you if you wanted!

Hi Katherine, 

What is the reason for wanting to do this?

In most cases you will need good cause to not renew their lease.

Hi Paul, 

I think depending on the details of this it could be a good move. Is there a way to create more equity in the new one? You will now be getting appreciation on each house instead of just one.

Also, if and when interest rates do come down you can hopefully take advantage of refinancing both these to increase your total income on both properties.