All Forum Posts by: Ronak Shah

@Amul, I and my cousins have done this routinely. Write a check from HELOC so you can use cash option (and make your deal more attractive to seller) and then go through refi when property is ready. You don't want to be in HELOC forever though as rate is fluctuating so you should use it for short term bridge financing.

Hi Jenny,

Welcome to BP and looks like you are already taking right steps by analyzing the markets and working towards your real estate license.  I have also accidentally became an investor and one thing I have learnt is everyone’s real estate journey is different so find what suits you and you will succeed.  @Brandon Turner on recent podcast said, don’t abandon Bridge you are making and end up with lot of unfinished bridges so identify your route and be on it!

 Alex would it be possible to get a reference to your mortgage person or institution from where you got this financing?

@Alexander Felice, Thanks for information-filled podcast! This will be helpful to me (BRRRR without seasoning) and lot of of other BPers. Where do you get this loan? What terms are you getting for this right now?

Being multiple property owner, I hope this is seasonal activity but I don’t think same seasonal argument was made in last fall/winter/spring to my knowledge.

I know all real estate is local so take it for what is worth.

I am in Baltimore at courthouse auction currently and already heard from 2 associates that things are softening on prices, sales and rentals (all fronts).  This is in addition to the search e-mail agents in Northern NJ which are almost always coming with price change on lower side.

@Sam Rust: very inspiring post! After being a landlord for SFRs, I am also looking into getting to the larger stage but always thought it will only be possible to be part of someone's management team before I can form my own syndicate because of lack of experience or lack of access to the funding that experienced operators can achieve. You disproved all those holdbacks and now it is grit and no quit! QQ: I think you mentioned 5.x% current cap rate and want to get 7.x% cap rate post improvement. You don't want higher cap rate but rather higher valuation to higher NOI, isn't it? Could you please provide reference for your syndication attorney?

If move-in ready work is cosmetic (about $5- 10k) then go for it.  If it is more extensive then let the buyer take care of it.  Most of the time, buyer has their taste and would be doing touch ups anyway.

Don’t know about NJ but have taken builders’ risk policy in MD for flip as well as for rehabs.  Need to convert from that to vacant at the end of construction.