All Forum Posts by: Manuel Savorelli

Thanks Brent, however I wasn't particularly looking to sell anything.  

I was thinking more along the lines of using one property to back the other.  Would that be a mortgage, home equity line of credit, collateral? 

Hello board, 

I currently own 2 condos, free and clear.  One of which is my residence, while the other is rented out as an investment property. 

I'm looking to expand into multi-family or apartment complexes and I'm curious if I could use my current ownership of these to properties to my advantage in order to secure financing, or if it's even recommended that I should. 

TIA, 

Manuel 

Thanks guys - I appreciate the suggestions.

Thanks everyone, great advice.

Charles, stay tuned for PM.

Hey Board,

I currently live in South Jersey but I've been contemplating buying an investment multi-family down in Florida.  The property is fully occupied and is (and would continue to be) managed by a mgmt company for ~8.5% gross monthly.  This would be a completely hands-off approach.

I'd like to know what is it that I'm not aware of and what should I prepare myself for when investing out of state such as different RE laws, tax implications, fears, insurance rates, etc.

If anyone has anything at all to contribute to this post I'd really appreciate it.  I'd like to be as informed as possible before making any sort of decision, especially long-distance and hands-off.

TIA,

Manuel

Hi board,

I currently have a condo listed for sale and I'm offering Seller Financing - I'm interested in becoming the bank, receiving a nice down payment while receiving monthly checks (with interest).

My RE Agent asked me today about the terms that I'd be interested in offering the prospective buyers and that's when I realized I couldn't answer that question confidently.  I'm hoping someone out there could chime in and provide options, suggestions, and/or criticisms that might help steer me in the right direction.'

TIA,

Manuel

other than LoopNet?  Are there other recommended sources?

Thanks, 

Manuel 

so many properties available.  

Thanks 

Hello board,

I recently got a good deal on a 2 BR condo in south Jersey however, I'd like to do some upgrades in the place.  I'm looking to completely replace kitchen cabinets, counters, add crown moldings, and appliances.  Also, replace and installing glass sliding doors.  Adding some framing/moldings around skylight and door frames and replacing bathroom vanity as well as a few little cosmetic additions.

Can anyone recommend an experienced worker in South Jersey?

Thanks in advance.

Manuel

Joel Owens, I am also trying to educate myself on NNN's. Could you possibly elaborate on exit strategies (as direct investor) and other things to look out for?

Thanks in advance