All Forum Posts by: Rafael Norat

Niddal Momani Yes you're concept of right! However real life s**t will always seem to get in the way! I would work on establishing a relationship with a couple of local banks to make the process smoother. Also try to get something with built in equity to help unforce things abit or assist in holding costs and incidentals. Hope that helps!

@Eladio Perez

There should be some real estate groups near you (meetup.com) where you can find title companies that work with investors. Im sure there are plenty of locals on here that can recommend someone as well. Just have to keep searching man!

@Brian Campbell

Any repairs needed? Are you financing conventional?

At face value looks pretty good. Plug into the BP calc as well and estimate your management vacancy and maintenance costs plus cap x as suggested.

I'd be interested in know what banks would go by that appraisal and work backwards from there.

@Nicole Williams

Hey Nicole. I would suggest either meeting up with local BP members in your area or finding a network group near you to make some contacts and potential partners. What would you be bringing to the table? Deals? Time? Think of what you may offer  to them to generate talking points to get you to where you want to be.

Hope that helps.

@Samantha Cunha

Is this a rental, flip project, personal property?

Give me an idea of what you are trying to do... Purchase price? Rehab costs?

@Samantha Cunha Do you have a realtor helping you? If so, they should be able to provide comps.

If you'd like advice from the BP community, try to list the property details and what your criteria is. That way you can get more opinions.

Also look up local BP members here and get their thoughts as well.

Website such as Zillow and Trulia can help you get started, but can be veru misleading or outdated as well.

Hope that helps!

Did you speak with the landlord?

Kenneth Sok that's a tough one Ken. Considering its pretty recent recent too. If the wife is close to 3x income on her own I'd maybe consider them possibly, otherwise no. Much better to be selective on the front end than get stuck in the end.

@Danny Cronauer

Congrats! PM me and I'll put you in touch with some good lenders in the area.

Rafael

James Leake welcome! I live in the area and would definitely like to see what you're doing. I mainly buy and hold in PA but just got my NJ salesperson license. Ill reach out to you to discuss.