All Forum Posts by: Rich Vogel

@Hubert Sarfo good luck with purchasing your first investment property.  I am not an agent in the Newark area but if you need any help analyzing a deal  let me know since I live close to Parlin. 

My freedom number was 80,000 a year in cash flow. I am currently at 79,200 and I just put an offer on a house that was accepted.  So I actually gave my two weeks notice two days ago from my day job and will be a full time investor.  I know everyone is different but to me the number didn't make as much of a difference to me as the why.  My why was spending more time with my wife and two kids who are 6 and 4 years old. 

@Jessica Zolotorofe do you have a contact at Asset Preservation?

Hi All, 

My contractor who usually paints my units is busy with my other projects.  I am looking for some recommendations for interior painters that work in the Allentown, Bethlehem, Easton, Lehigh Valley area.  Thanks in advance!!!

Absolutely there are alot of investors that take equity loans to buy real estate.  A partner of mine has done that and has been very successful. 

@Dacia Ray just like steve said above i wouldn't even worry about the numbers that are given to you.  I have found many times that the initial numbers that are given are lies.  One of the main things I try to find out right away is who it paying for the utilities cause that could kill your cash flow.  Then I run my numbers and see what the numbers look like. I also put that during the inspection period time that I must be shown the current leases for the property.

@Justin Shepherd you both are going to go on the deed as tenants in common and your partner is going to have the mortgage in his or her name. I have done this on several properties from large banks to local community banks and none of them have had a problem with it. I don't know how much of a relationship you have with your partner but I always open a bank account for each property and the rent check  gets deposited into that account. I then have the mortgage come out of that account automatically. Then transfer our portion out each month and then leave the balance of the money in the account for repairs vacancies and so on.

@Matt Foster why not refinance the house even if you take 75k-80k out so you are still cash flowing and then you can find a partner to make up what ever shortfall you need in cash.  

@Justin Shepherd you put yourself on the deed of the property with your partner.  I do this all the time no need to over think it. 

@JD Martin. Thanks for the advice that was my thinking.  Yea it is a deal breaker for them.  Anyone have any creative ideas to solve this issue. 

Thanks