All Forum Posts by: Rafael Norat

hey don. Reach out whenever you want. More than happy to help you with anything I can.

Rafael

908-419-3665

Hey don. Welcome! I'm a fellow NJ engineer who started investing about 2 years ago now. I've developed a good rental farm in PA and recently started some flip projects in NJ. Plenty of diverse opportunities for us here! A lot of good meetups in both northern and southern NJ. Reach out to me if you need any help. Rafael

I would add to your list a comparable market analysis from a realtor to give you an idea of what you can possibly refinance for when done. That can also help guide your costs on the rehab.

Hey Bryan, Most hard lenders work multiple states. So I would go with the one who has best referrals and terms. Most can easily close within 20 days. So I wouldn't be too concerned with the timeline. Just put together a good presentation package and shop it around. PM me if you can't find good lenders to work with. I'm sure you would get some lenders here on BP. I have one who works multiple states with decent terms, 3 points 10-11 % I believe. No attorney fees. I can forward you there info. Hope that helps.

Hey Billy,

Have you tried a zip code search on list source.com?

What about going down to the court house? I deal in a pretty rural area myself in PA with limited online doc access.

Might have to just drive around there and find some properties of interest to build up your list further.

Hope that helps.

Rafael

What specific docs are you referring to?

I would imagine the Operating Agreement can serve as a template for multiple LLCs.

Rafael

Welcome to BP Jennifer!

Congrats on your start! Just keep posting and building your network here. Good things are bound to happen!

What's a typical per unit cost (completed) in your area?

Rafael

Tenants termites and toilets... !

Great handling of the situation guys...

Unless its a blatant violation, I could see how the landlord may have to work with the tenant. Better in the long run.

Hey John,

I would say it depends on your acquisition criteria and goals. Does this property meet your cap rate? Are you looking to refinance within a specific timeframe? What's your overall goal?

I personally built around a 10-12% cap rate, $150/door model with purchase at or close to 80% ARV when completed. Anything that fit my criteria within the areas of was comfortable investing in was considered.

Hope that helps!

I'd also consider co-wholesaling with someone experienced to pick their brain a bit and expedite your learning curve. Always good to have smarter people around you to learn from. Help them and they'll help you! Plenty of meetup groups near you.