All Forum Posts by: Juan Reyes

Welcome to BP best of luck !

Hey Garrete, 

I would say this depends on how confident you feel about the investment and also the property management team you have been able to put together. 

Best of luck

Hey Amy, 

Make sure to check local law. 

Hey Anthony, 

Make sure to check out some of the articles and blog posts available here on BP.  You may find them very helpful in determining what to look out for. Feel free to reach out with any questions.  Ill try my best to help. 

Good Luck !

Check out some of the articles here on BP. Very helpful

Best of luck

Hey Maxwell, as with anything else you should speak and interview with several options. Some people may better serve you in specific areas and some may work best with your specific needs. Feel free to reach out with any questions.

Will your HELOC cover the whole asking price ? If so you are technically paying cash, that might mean that you can try to make. a cash offer. All IMO not any advice or recommendation

I am no attorney and this isn't legal advice but I do not think you need it for your own properties. Best of Luck !

Originally posted by @Jon B.:

@Juan Reyes The properties in PA did appreciate in value a lot if you purchased in the 1990's and sold pre-recession.  My parents have a home in the Poconos that was worth $200-220k before the recession, and is now at around $140-150k. The area still has a large number of commuters that take a coach bus early in the morning to the city.  Google "martz buses" and you will see what towns they leave from.  Right now the part of PA that interests me a lot is Scranton due to a potential train from there to NYC.

Have you heard of any concrete plans or just rumors? Scranton has always interested me as well, but if there really is a train coming or at least plans of one id be really interested. 

I would make sure I have a commitment for financing from some lender, before I spend any money. You can also always use a financing contingency in your contract if you want to lock the deal up ASAP. I am no attorney, this is not legal advice in fact If you plan on doing anything like that I would suggest you consult with an attorney instead of doing it yourself. But assuming you can wait to get a commitment from a lender I would start with that, this way you know if you can do the deal. Best of luck.