The refinance closed on schedule, releasing equity for the down payment and post-close reserves—creating a repeatable path to scale the portfolio with future DSCR and room-by-room assets.Takeaways for investors using PadSplit/room-by-room models: clean payout records matter, expense transparency strengthens DSCR, and early valuation context helps avoid mismatched comps.

My goal is to help more BP members build their REI portfolio and avoid lost time or money!   

Highest multi-family (2-4 family) in the entire city in the past 6 months has only been $350,000.There are pockets of Paterson that are safer and might be better for investments, but other parts you want to avoid like the plague.

     - Establish clear criteria: Define your tenant selection criteria ahead of time and apply them consistently to every applicant to avoid discrimination

To avoid going through the same poor experience, keep reading.Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.We also can’t believe how many owners hire the first PMC they speak with!

Quote from @Michael Santeusanio: I see many first-time investors run into the same financing pitfalls:Not getting pre-qualified before making offersUnderestimating rehab costsOverestimating ARVChoosing the wrong loan term for their exit strategyForgetting about holding costsWhat’s one financing mistake you wish you could go back and avoid? 

Some utility providers want you to have the agreement on file with them to avoid claims of shared metering.

If you ever have any questions feel free to reach out I enjoy helping BP members avoid lost time, learn loopholes and tips to save more money!

Try to avoid making the same mistake twice.  6. 

Do I want to avoid selling at a loss?