All Forum Posts by: Nick Shri
Nick Shri has started 31 posts and replied 215 times.
Post: Question about increasing rent & refinancing a duplex

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Greg Larson:
@Nick Shri that's fair!
Nonetheless, do you have any experience with forcing appreciation through raising rents by chance? I'm curious what others have seen for ARV increase after significantly (and almost doubling) rents on 2-4 unit multifamily
Post: Hotel to multifamily?

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Post: Question about increasing rent & refinancing a duplex

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
@Greg Larson Why does it matter when it peaks? They are increasing - that's the crystal ball answer :)
Post: New Investor: How is the Cleveland Market?

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
@Emma S Endicott Familiarize yourself with this blog post - https://www.biggerpockets.com/...
Understand the neighborhoods. You can make money in pretty much every neighborhood in Cleveland, all depending on what risk appetite you have from management point of view. I too own a duplex in Cleveland and so far it has worked out well. If you wish to chat about it feel free to dm me.
Good luck..
Post: Need 32+ unit deals sent to my email

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Chris Seveney:
are you looking for deals or have the deals? It is not clear.
looks like he wanted to DM someone
Post: Question about increasing rent & refinancing a duplex

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Greg Larson:
Hey BP,
I'm considering pulling the trigger on a duplex in my area that's currently renting for $700/side. I believe it can rent for $1100/side and my agent thinks it could go for up to $1300/side.
If I paid $280k for it and then took the rents from $700/side to $1200/side, then refinanced it, do you think it would raise the property value all that much?
The cash flow at $1200/mo would be good, but I'm trying to see if there's a bigger play here where I could refi and leverage this duplex into a 5+ unit deal after just one year
(My loan for this property would be an FHA with 3.5% down)
Thanks in advance for your advice!
Post: Looking for some ideas on getting started as an investor

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Eric Hempler:
I'll try to be as detailed as I can to see what recommendations you might have for how I could get my first deal.
I'm most interested in apartment buildings and retail spaces with strong tenants.
Background
I've flipped a few homes in the past
I've worked for my dad, who is a commercial appraiser. We mostly appraised apartment buildings. I've worked in accounting for the past 20 years mostly for real estate companies. Could do the entire accounting process including month end and asset schedules. I have access to a real estate tax person, but I primarily do the bookkeeping and accounting and save the taxes for someone with a little more expertise in that area.
I have a list of real estate owners I've been able to put together and leaning toward contacting them to see if they might be interested in selling.
Unfortunately, I don't have any cash to put into a deal. I have a home, but can't access the equity due to how we structured the loan even though I'm on the title.
Right now I'm trying to figure out how I could acquire my first property and looking for some ideas on what this community recommends.
So change your mindset a bit. Bring the deals, give equity to investors, you get to keep/build sweat equity. Over time you will see significant assets on paper for yourself.
All the best to you!
Post: Cleveland Investors Mastermind?

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Erin Dorsey Robinson:
Hi everyone,
I'm thinking of starting a weekly mastermind for investors considering Cleveland as a place to get started. A lot of people have the same questions and are just looking for some support as they get started. Let me know if this is of interest and we can start sharing resources, ideas, and hopefully highlight some wins.
Post: Buy my first property to house hack or buy for a STR/LTR

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
Quote from @Andrew Cruickshank:
Thank you all for the replies and advice! I really appreciate it. I definitely will look for a duplex. I think you are all right, that seems to be the best option. Although they are hard to come by in my price range. I will try to find one or find a way to make it work. Thank you all again!
Goodluck!
Post: Funding rehab of my first property

- Rental Property Investor
- Virginia
- Posts 217
- Votes 133
HMLenders like to be in first lien, chances of getting HML for cosmetic lift are slim. Recommend you look at finding alternatives - borrow from relatives, friends or a 0% credit card.