All Forum Posts by: Nick Loukas

@Dennis M.thanks for the insight. I ran the numbers on the BP calculator and at 100k I’d cash flow about 315 per month...so agreed not a homerun but def a base hit and something to gain experience with my first deal. I’m trying to get this at around 88-92k which would make it better obviously.

Thanks everyone who responded ! This is why I love this site! A lot of things to think about but my instinct feels right for this one and I’ve looked at a lot of properties. I have a realtor who helped me purchase my personal residence and we’ve become friends so I feel kinda bad going behind his back. He’s very knowledgeable and is also an avid investor in the area so I think I’ll cut him in on the deal if the numbers make sense. I’ll keep you posted on how it all plays out ! Thanks again!

Hey BP, so I'm looking for my first investment property in the Lehigh valley area of Pa and came across what seems to be a good deal on Craigslist. Property is not on MLS and privately being sold. Met the owner and seems like a pretty good dude. It's a 2 unit asking only 99k Upstairs apartment is 1br rented out to long term tenant for 550/monthly and downstairs is 2br with new tenant who just signed lease for 750/month. Taxes are low 2200/year and the building seems in pretty good shape. I'd only be responsible for water sewer and trash. I haven't run the numbers yet but I'm thinking it should cash flow decent. My only concern is he doesn't have an agent and all the documents he draws up himself. I'm inexperienced and would feel more comfortable having my agent deal with the closing but I know I have to pay him. Anyone have experience or advice for me?

@Christopher Lombardi thanks Chris , 2 main numbers I look at are RAte of return and cash flow. I’ll check out those vids you mentioned 👍

@Ashley Wilson hi Ashley thanks for replying! Awesome advice! I make enough from my current 9-5 to live comfortably. However I love the idea of being able to retire early spend more time with family and travel! I’d love to make this happen within 10 years and I’m shooting for 5-6k in passive income from buy and hold. I figured if I can save 20k a year I can purchase one house a year minimum. I’ll adjust my plan accordingly and maybe through in some flips but I have to get my first deal to get the ball rolling !

@Matt Bertsch thanks Man!! Great advice as well. I’ve read almost all of the Bp books and listened to about 75% of the podcasts! I feel I’m ready to take the leap on my first Investment property! Where do you find your multi family properties? I don’t see a lot out there in the Lehigh valley area. Thanks in advance !

@Lee Ripma sweet!! Great advice! Thanks for taking the time to explain everything! Appreciate all the help I get on this site !

@Lee Ripma great advice thanks a lot! Can you elaborate on looking for value add rentals ?

@Ned Carey thanks great advice. I agree and don’t see fast enough growth with the safe route but for my first deal it’s kinda nerve racking getting involved with a big rehab with no experience

@Erik Matthew thanks man. Could you elaborate why you’re not a fan of brrrr?