All Forum Posts by: Ben Bakhshi

A property I was looking at is designated for purchase by FEMA via New Jersey state.

It hasn't been sold yet because it is bank owned and vacant, and thus last on their list.

During this period, the bank has been marketing the property for sale and it is currently at auction.

Can anyone shed light on what rights a buyer of the property will have in regards to the FEMA buyout?

I heard from one person that FEMA buys at appraised market value, but, if the property was purchased after Sandy, then FEMA would only pay you back what you paid...

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The property has been bid on by an "owner-occupant" so I'm out of the running anyways. But it will be good to know for next time.

I think that you hit the nail on the head. I've been scratching my head trying to figure out what to do in 2015. Expand the SFH portfolio, or go into multifamily. This point seems to make it much more clear to me. SFH should increase in value greater than multifamly in the long run.

I'd appreciate input to run an apples to apples comparison.

Multi-family values are tied to cashflow. To hit a grand slam, you need to buy under performing or destroyed properties, fix them up, and rent them out. You can do VERY well doing this, turning 15 caps to 9 caps, etc. But the long term value is going to be tied to NOI.

Single families right now, are not tied to cash flow, and across the nation are priced well below the cost to rent. Buying and fixing distressed SFHs generate solid NOI (comparable to apartments), along with significant equity from day 1 (also comparable to apartments). But the long term 10+ year play favors SFH in my book.

A significant % of buyers are locked out of the market. A significant % of foreclosures happened in 2008. Add 7 years to that, and you'll realize that many buyers are locked out until 2015. 2009-2012 there were LOTS of foreclosures as well. The SFH market has a lot of pent up demand that will come into play over the next 5 years.

I do them personally. As our profits increase I may want to keep someone in-house to help out. Right now, I feel comfortable "owning" the process, knowing that any mistakes in judgement are my own.

See if Airbnb can help

Over the last 6 months I've been running numbers on about 60 homes per month.

I do it nationwide usually with Zillow by my side. (For comps, not for Zestimate).

It's the only way I'm able to find "diamonds in the rough" since my primary market, Atlanta, has gotten too competitive.

After looking primarily for cash flow, I've come to the conclusion that I want to own high-cashflowing properties that are appropriate for a median income family to own. That way the price will appreciate at least in-step with the overall market, and I will have a resell market that is not limited to lower income or investors.

That being said, if I can buy more $35,000 properties that rent for $840 via Seciton 8, I won't say no!

What are some things to look out for when deciding on a blanket /portfolio loan? 

The properties are in multiple states, with varying values. 

We are looking for the highest LTV to cash out, and obviously at the lowest rate possible.

I'm looking for a loan that will allow us to either remove or replace properties if possible. 

Any one go through this loan process? 

This property is in turnkey condition.

http://www.zillow.com/homedetails/2304-Loop-Acres-...

Rent potential is between $650-800 per month.

Market value is around $55,000.

Please shoot me any questions and offers you have.

104 2nd Ave, Pitman, NJ - South New Jersey, close to Philidelphia - Lowered to $16,000 (Rehab and Rent or Flip)

Pictures and code enforcement available in the spreadsheet: Properties for Sale

We own a property and instead of investing money into repairs we want to partner with someone to manage & fund the rehab, and share in the profit.

We are moving forward with someone already, but I am not sure what is the best way to protect all parties ownership. Is there a simple legal agreement we should use, do both parties need to be on title? What is recommended in this situation?