All Forum Posts by: Joe Bruck
Joe Bruck has started 18 posts and replied 58 times.
Post: East Baltimore Vs West Baltimore
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Nick H.:
@Tim Youse thank you for your input It has helped me make my decesion I went with the house in west Baltimore
How is it working out so far?
Post: AVM (Automated valuation model) based appraisal
- Brooklyn, NY
- Posts 61
- Votes 13
Will (commercial) lenders do a cash out refinance on a $80,000 rental property based only on a avm valuation?
Post: Baltimore financing/bank recommendations
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Nick H.:
Harborbank maybe someone you look I am currently looking myself, but a couple of experienced landlords recommend them might be worth a look.
I've spoken to harborbank today they told there balance sheet of commercial lending is near full
Post: Have you had a loan called after transferring a property to LLC?
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Roman M.:
Did it on 3 different properties 10 years ago. No issues so far.
How long did you pay the mortgage before transferring the deed to a llc?
Post: Due on sale clause was called by bank!
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Account Closed:
stop paying, gut the house/sell everything of value, break their loan obligation in bankruptcy, see how they feel then.
Ha ha! that's funny!
Post: Baltimore financing/bank recommendations
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Tim Youse:
I sent you a PM for a local portfolio lender
I'd be interested for the same thing , please pm
Post: Is Yonkers, NY (or surrounding area) a good rental market?
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Lisa Connelly:
Thanks @Adam Cherko I appreciate it. In doing more research I have arrived at actually a new question, which is, how to identify the next affordable rising NYC commuter location. I'm pretty sure I'm not the first to ask this. :) How far would I have to go outside of NYC to hit a location with single family units at ~$100K? Does that even exist? Still learning...Thanks
Did you try Jersey city?
Post: LLC refinance attempting BRRR
- Brooklyn, NY
- Posts 61
- Votes 13
Originally posted by @Jason D.:
Which credit union are you using?
Post: New Investor in NYC Looking to Invest Out of State
- Brooklyn, NY
- Posts 61
- Votes 13
Hi guys , nice to hear from fellow New Yorkers...
I bought my first turnkey ( rented ) property 6 months ago in Baltimore MD for $60,000 (cash deal)
$1000 rent / $80 pm fee per month , taxes & insurance $2250/year.
although I'm happy so far regarding cash flow , I'm upset the broker/pm ********ed me that the
property is worth $80,000... i contacted a lender to do a cash-out & the appraisal came back at only $35,000...
For you folks buying out of state... the above was my first experience
Post: Loan value based on property tax
- Brooklyn, NY
- Posts 61
- Votes 13
Hi all
Is there a way to refinance a property based on the state equalized value?
from what i googled it seems to be a few credit unions that will do a heloc based on
the SEV ...