Glad this thread is getting some action - I have also been eyeing Bergen Lafeyette, but was wondering about vacancy in the area, what with new construction & proximity to transportation pulling desirable tenants Downtown. 

I'll keep my eyes open and see what my area structural engineers have to say about this type of rehab (which I fully expected to have to shop out to a more experienced outfit) but I wouldn't be such a big fan of yours or a true BPer if I wasn't at least mildly ready to take a big risk!

@James Syed these seem like typical deals for commercial lenders altho 80% ltv seems generous.It all depends on what you need to accomplish from your financing, cash flow or debt pay down.For ex. 225k loan amount 5% 30 amort=1207.45 P & I Same LA 4.5% 20 am=1423.46All things being equal and it cash flows then 20 am best choice especially if lender reviews DCR/LTV and overall performance of loan, because you need to protect yourself from the annual covenants and restrictions  that could cause lender to call loan due.Good job taking action!

This does a few things, first it gives you a second set of eyes on the deal, second it gives you the money for the unexpectrd.  

That's great to hear, I'll be keeping an eye out for deals out here.

We try to have a meetup of local BP members about every other month so keep an eye out for the next one.  

Just keep your eyes open for the kind of properties that fit your investment criteria. 

They come out every Thursday, and in addition to being very entertaining, also provide a lot of information about different kinds of investment, through the eyes of someone who has been there and already made the mistakes for you. 

I have an 8 unit that has caught my eye of 1/1 units.

It's pretty cut and dry.Sneaking off to the bathroom or break room to take calls, using your employer's internet that they pay for, printing out personal documents and copies, are all forms of theft and quickly degrade you in the eyes of your boss.Again, sorry to be harsh but I've run a business and let employees go who decide that their outside interests take precedence over the time I am paying them for.