All Forum Posts by: Rich Vogel

@Aida Hofmann I would go to your local real estate meetings and start networking.  You can probaley find a real estate agent there or another investor can refer you to one.  You might also see insurance brokers and contractors and grab there cards cause you will need some of them in your network as well.   And of course ask a lot of questions on BP.   Feel free to contact me anytime with any questions that you might have.

Thanks

Rich

Hey Dave,

I just wanted to introduce myself. I am a buy and hold investor in the Lehigh valley. If you ever run a cross deals that you are looking to wholesale please let me know. We are closing on our 12 property in a couple weeks and would like to double our portfolio in the next two years. If there is anything I can help you with please let me know

Thanks

Rich

@Thomas Giganti if you are not in a high end market I would not replace the appliances.  If they are in good condition and working why mess with them.  I agree with Thomas above I would not be putting granite in a unit unless it is a high end unit.  I would be putting those prefab countertops in that they have at Lowes and Home Depot for $130 for I think it is 10ft.  They actually look really nice.

Thanks

Rich

I think that Brexit will help interest rates stay lower for longer then we thought.  The bottom line is interest rates are still really low and I would recommend people trying to get 30 year mortgages to lock in those rates if it fits in your business model.

@Jason Eyerly If I were you I would find a market that there are 65-80k homes by you (I don't know if they exist in Nevada not familiar with your market).  If you buy a home in that range you would probably need around 30k all in.  If you find a partner you then only need 15k. Your 8k is alot closer now to the 15k you would need to start investing. Sure you will have to save some more but at least you have a plan.  Feel free to PM if you have any questions or need any help. 

Thanks 

Rich 

@John D. i had such a hard time getting someone from embassy to get back to me.  I did not try qnb if you have success with them please let me know. I did try a credit union on freemansburg ave but didn't like there rates. With the help of the BP community  I put a package together for the portfolio lender and he said that he was really impressed by it. When you are going to meet with one PM me and I will let what I put in the binder.

Thanks

Rich

Hey @Account Closed 

Welcome to BP!!! I do must of my investing in the Pennsylvania area but I do have one property in Somerset NJ. If you ever have any questions feel free to shoot me a pm.

Thanks 

Rich 

@John D. I am still in the process of getting a portfolio loan with merchants.  I work with a guy named Jim he has been very helpful with the process and he is actually touring the houses on friday so we are close to the end of the process.  If you do decide to get a portfolio loan I can give you some tips that I learned along the way. 

Thanks 

Rich Vogel 

@Michael Healy I am not a handyman at all.  I can't fix much of anything and personally really don't care to learn.  So I have built a system where I have a contractor and electrician on call basically anytime.  But there is a big difference between not doing the work and what to look for. For instance I can walk a property and I can have a good idea what the issues are in the house and how much they would cost.  I think the important thing is to ask your contractors questions so you have enough knowledge to understand what is going on. Also from a tenant perspective you need to make sure you have everything in your lease and you enforce your lease.  

@Ryan Oldenhage thanks for the referral.  What have you used Zator Law for evictions, contract, etch? Right now I am using a lawyer in the Bethlehem area for my evictions but thought he was alittle over priced.

Thanks

Rich