All Forum Posts by: Joseph Firmin

If it wasn't discussed - whatever you feel is right and say that to him. If needed run calculations on money market and S&P performance of 1 week during the past 3 months and ensure that 1 week of that % interest is justifiable, in the case he's looking for an explanation.

If the numbers work, offer what works. SFH in many areas are seeing similar results. Forbes just put out an interesting article on this titled. "The Covid Housing Boom Will Continue Until This Happens" - check it out. Test it with offers and see what works, then pivot as needed. Similar to experiementation.

No, it doesn't. It is also reported to credit agencies differently. Don't worry about the 10 loans. If you know any large SFH investors, they all package multiple homes into portfolios and get a commercial loan on the package. You can make the same jump when you need to.

Most of these will come on broker websites or places like Costar, Loopnet, Crexi, etc... these are essentially the last places properties go if they weren't purchased by the broker's network or the broker is looking to bid the property up. 

Sounds like a good deal @Matthew Amabile. You could go ahead and get a loan on it with those valuations vs the purchase price, so why the cash and investor loan? This is a nice deal if your resident will allow you to renovate while they are living there, but you may need to give a concession or something in order for them to permit this. 

Following, I also own property in upstate NY. Pray I don't have to go through this. Hopefully someone has and can provide some insight here. This could end in a settlement and your insurance (hopefully you have umbrella insurance and liability for the property) should cover it. The LLC, if set up correctly should also provide some protection.

Happy to help! All the best!

Put yourself in the shoes of a room renter. Where does your target customer hang out, what do they do... then go where they go and put up a flyer, join that network or FB group, post it there. Meet your customer where they are. Not sure if PadSplit is in your area, but that is another option also.

Bigger city, more competition. You can dominate your small town, but there is risk due to fewer employers and smaller resident base. Unless there are employers within an easy drive, a small town can stay that way for a long time. I'd recommend setting your goals and then if your current location won't support those goals, get a move on.

I'm sorry, I don't understand what your question is exactly. If you could be more specific it would be helpful. $43K won't set you up for life, it will be your goals, persistence, how you choose to use the funds (and re-use them) that will determine your success. Don't let the $ "burn a hole in your pocket" until you know what and how you want to use it to start you on your path to success. Be patient and seek counsel from wise people.