All Forum Posts by: Daniel Vandenbos

@Nicholas Hoffman Real Estate Hackers has a great meetup every second Tuesday at the Allentown Brew Works at 6:30, it is free to attend. 2120 Pennsylvania 100 Macungie every second Thursday $10... There is another one on the third Thursday I believe it’s a BP meetup, I haven’t attended yet maybe someone else can chime in... If you’re interested in crossing the bridge a good meetup just started in Phillipsburg NJ, Every third Monday, I can get you more info if you would like... I hope this helps get you started!

Welcome! You have some good meetups in the area. I hope you achieve all your goals. Best luck!

I’d say to hire a GC unless you have a solid idea of the order which things need to happen, a good GC will have good subs to do work and keep everything on schedule.

I’d be very cautious. I had a decommissioned oil tank when I bought my property, there was no true standard to decommissioning an oil tank, sometimes they filled them with sand etc, there could still be oil in the tank... too risky with the EPA, that’s one leap of faith I stay away from

Congratulations! Where in Warren County are you located?

@Mark Coleman I don’t know your neighborhood off hand. I’d have a hard time with a violent offense, 8 years though, people can change. I’d want to verify that as best as possible if this is your best candidate. If it’s a decent area I’d pass and wait for a better option... set screening parameters to avoid over thinking these kinds of concerns, if you choose no felonies, then draw a hard line. Best luck!

@Eric Stugart When you analyze the deal you would need to factor in PMI into the monthly costs and if it still makes sense with that factored in, I would go for it and let the tenants pay it down. I have a FHA I put 3.5 down on previously and the PMI came out to about 95/mo on a 150k note. You would obviously cash flow better without it, then again you'll cash flow even better if you put 100% down... it's not easy to scale if you're putting 20-25% down on every property you want to acquire. Good luck!

@William Keeler id love to connect, I’m looking heavily right now and would love more allies in the area.

@Craig Matthew you won't be able to do much with the MLS without a realtor. You will need one to view the properties. A good realtor will be invaluable purchasing on market properties for a few reasons, they can bring deals to your attention as soon as they come on, they probably know of properties that aren't even listed on the MLS. They have market knowledge and relationships with other agents, contractors, insurance people etc. They are there for your best interest and to protect/advise you. As a buyer they cost you nothing, so the price is right... just be respectful of their time

@Brady Moxham You should speak with a mortgage broker to see what options you could qualify for. Would you consider renting rooms or living there for a year? If so you could probably do a FHA loan as low as 3.5% or possibly a USDA loan (area specific) for 0 down. Private money wouldn't really be much of an option for a long term purchase unless it's basically family or friends who want to lend a large chunk of money at very favorable rates.