All Forum Posts by: Joe Bruck
Joe Bruck has started 18 posts and replied 58 times.
Post: No seasoning cash out (No doc)
- Brooklyn, NY
- Posts 61
- Votes 13
Are there no doc lenders that will do long term cashout financing on rental property with No seasoning requirement?
(or at-least Reimburse the cost of purchase & rehab)
Post: What's a good cash on cash return for baltimore turnkey rentals?
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Joe Norman:
I primarily use the BRRR method, so the end goal is to have little-to-no cash invested which means that Cash on Cash Return is not a really meaningful metric. That said, I would look for at least $400/month net cash flow or else its probably not a good deal.
Joe you said it very well... many investors in Baltimore city will tell you they average $300-400/month after all the gimmicks....
Post: Whats it like to invest in C or D class properties?
- Brooklyn, NY
- Posts 61
- Votes 13
'In a nutshell' A class neighborhood is negative cashflow & positive appreciation, C class is the opposite
Post: Baltimore Property management
- Brooklyn, NY
- Posts 61
- Votes 13
I'm looking for a reliable competent property manager in the rougher neighborhoods of Baltimore city?
At the same time I'd like to know who are the bad guys?
Post: Rental property management
- Brooklyn, NY
- Posts 61
- Votes 13
In challenging neighborhoods its probably better that the tenant doesn't know the owner but in better stable neighborhoods its probably a good idea to develop a direct relationship with your tenants
Post: Refinancing during Covid-19
- Brooklyn, NY
- Posts 61
- Votes 13
The new rates for no doc cash-outs post corona is 60-65 ltv, 7-8 apr, 2-3 points
Post: 5% IR and 100% LTV, no credit check needed private loan?
- Brooklyn, NY
- Posts 61
- Votes 13
The address of the lender is a 'Virtual Office address'.... , minimum Fico is 350...
Post: Refinancing during Covid-19
- Brooklyn, NY
- Posts 61
- Votes 13
Anybody has a update on long term non qm financing?
Post: Update on COGO, Lima One and Visio
- Brooklyn, NY
- Posts 61
- Votes 13
Are there any lenders that are currently doing long term non qm cashouts?
the properties are in Baltimore
(my bad i forgot to add it..)