Post by: jungarmtl on August 25, 2015, 09:00:38 PM
What places and what type of investment is good to start up if you some cash to invest?
Post by: Brian93 on August 25, 2015, 09:01:50 PM
I don't see a threat for this so i will start hereThe threat is real
What places and what type of investment is good to start up if you some cash to invest?
Post by: DMYD on August 25, 2015, 09:03:57 PM
Post by: Freddie on August 25, 2015, 09:50:41 PM
I don't see a threat for this so i will start here
What places and what type of investment is good to start up if you some cash to invest?
How much cash?
Go drive a couple hours out of NY and buy a house.
Post by: jackofall on August 25, 2015, 10:42:10 PM
Post by: MAJ on August 26, 2015, 02:44:05 PM
Post by: Yammer on August 27, 2015, 01:57:20 AM
The threat is real+1
Post by: twentie4hrs on November 02, 2015, 11:36:32 AM
PM
Post by: Tovia on January 19, 2016, 10:33:02 PM
Post by: aygart on January 19, 2016, 11:52:26 PM
The closer to home the better, you don't wanna fly every time you need to visit the property.why would you need to visit the property?
Post by: Palm5 on January 20, 2016, 12:03:50 AM
Looking for large, value-add, off market deals…Can be any market so long as the investment makes sense.
PM
Aren't we all. PM me as well if there are in fact principals on here.
Post by: Tovia on January 20, 2016, 12:19:26 AM
why would you need to visit the property?First of all you will need to be there when looking for properties, closing the deal, then comes the managing part, of course you will need a good and honest property manager (if its a small property like 3-6 family it will be hard to find one) which will take off a big part of your profit, then you will need to stop by at the property from time to time to make sure the property manager doesn't suck up your money on phony repairs and stuff.
Post by: palm tights on January 20, 2016, 12:39:04 AM
Post by: Tovia on January 20, 2016, 11:16:21 PM
Post by: isrealsuits on April 17, 2016, 04:04:57 PM
what were your'e experiences?
Post by: Mordyk on April 17, 2016, 04:16:58 PM
Post by: yomo on April 17, 2016, 08:54:55 PM
Post by: churnbabychurn on April 17, 2016, 09:00:20 PM
Anyone here invest in real estate crowd funding?Looked into it briefly once. - Looked scammy to me. - But i'm a professional skeptic
Post by: good sam on April 17, 2016, 09:05:19 PM
Anyone here invest in real estate crowd funding?Very iffy from a legal perspective.
Post by: Dr Moose on April 17, 2016, 09:09:40 PM
Anyone invest in Middletown NY Multi family dwellings?I work in property management up there.
what were your'e experiences?
Post by: Palm5 on April 17, 2016, 11:39:30 PM
Anyone here invest in real estate crowd funding?
Fundrise
Post by: Mordyk on April 17, 2016, 11:40:29 PM
FundriseU invested over there? Or just mentioning a lace to invest?
Post by: isrealsuits on April 18, 2016, 09:40:13 AM
I work in property management up there.And.....?
Post by: Dr Moose on April 18, 2016, 09:56:28 AM
And.....?And what would you like to know?
Post by: isrealsuits on April 18, 2016, 10:43:03 AM
Price vacancies issues
Are the properties going up in value? Cap
Realstic ROI(not on paper what I could be)?
Any thing else if you were me you would want to know
Post by: Dr Moose on April 18, 2016, 11:54:04 AM
Whatever you can tell mePM
Price vacancies issues
Are the properties going up in value? Cap
Realstic ROI(not on paper what I could be)?
Any thing else if you were me you would want to know
Post by: Moshke on April 18, 2016, 12:08:27 PM
What do you guys say to this ?
Post by: damaxer91 on April 18, 2016, 12:12:42 PM
(http://uploads.tapatalk-cdn.com/20160418/ac865efb33bd6fb4d25456f3bbad1e52.jpg)
What do you guys say to this ?
Looks as legit as can be
Post by: Palm5 on April 18, 2016, 12:20:38 PM
Post by: yuneeq on April 18, 2016, 12:54:08 PM
Anyone here invest in real estate crowd funding?
Why not look into investing in REITs?
Same idea without the trendy startup overhead.
Post by: churnbabychurn on April 18, 2016, 02:10:00 PM
Why not look into investing in REITs?Also, read the actual fund rise offering docs. - not the glitzy website.
Same idea without the trendy startup overhead.
Post by: bubble347 on April 18, 2016, 02:52:18 PM
Why not look into investing in REITs?Aren't they taxed at a high rate?
Same idea without the trendy startup overhead.
Post by: Vosizderneias on April 20, 2016, 12:51:35 AM
Why not look into investing in REITs?REITS will give you around 5-6% as apposed to crowd funding, at least 10% with an equity position. I'm using a crowdfunding site to fund a deal of mine. It's legit.
Same idea without the trendy startup overhead.
Post by: SamKey on July 12, 2016, 01:28:31 PM
Post by: yomo on July 13, 2016, 01:40:53 AM
Have opportunity for low buy-in investment with great return. Email me for details.I'm looking for properties in Tri State area
Post by: emjee on July 14, 2016, 07:15:32 AM
I'm looking for properties in Tri State area+1
Post by: Dr Moose on July 14, 2016, 08:47:48 AM
I'm looking for properties in Tri State areaAren't we all.
Post by: Tovia on July 14, 2016, 08:49:48 AM
Aren't we all.No, some ppl prefer Cleveland...
Post by: palm tights on July 17, 2016, 02:39:38 PM
Post by: good sam on July 17, 2016, 02:40:10 PM
Post by: Aaaron on July 17, 2016, 03:02:54 PM
(http://uploads.tapatalk-cdn.com/20160418/ac865efb33bd6fb4d25456f3bbad1e52.jpg)
What do you guys say to this ?
Lol.
Post by: churnbabychurn on July 18, 2016, 09:34:33 AM
Post by: Aaaron on July 18, 2016, 11:53:02 AM
Love the pic
The email looks familiar, I probably know them. You can get an income producing property for half of that though. No views of the harbor like that though ;)
ETA: Yep, I know exactly who that is.
Post by: E-MAN on July 18, 2016, 12:52:11 PM
Have opportunity for low buy-in investment with great return. Email me for details.Email sent
Post by: damaxer91 on July 18, 2016, 01:54:56 PM
Lol.
Are they looking to invest or are they looking for investors? Proper punctuation would be helpful
Post by: Aaaron on July 18, 2016, 02:05:46 PM
Are they looking to invest or are they looking for investors? Proper punctuation would be helpful
They're Morrocan/Israeli. I know they invest a lot of people's money. If I had to guess, you give them 60k, and they by a crap house, rehab it, throw a tenant in, and you collect the rent.
Post by: churnbabychurn on July 18, 2016, 03:36:51 PM
They're Morrocan/Israeli. I know they invest a lot of people's money. If I had to guess, you give them 60k, and they by a crap house, rehab it, throw a tenant in, and you collect the rent.What do they collect?
Post by: Work-for-ur-muny on July 18, 2016, 11:48:37 PM
They're Morrocan/Israeli. I know they invest a lot of people's money. If I had to guess, you give them 60k, and they by a crap house, rehab it, throw a tenant in, and you collect the rent.Legit?
Post by: good sam on July 19, 2016, 07:38:28 AM
What do they collect?If I had to guess, they take something from investors up front.
Post by: Moshke on July 19, 2016, 08:19:28 AM
Legit??
Post by: Palm5 on July 19, 2016, 08:28:13 AM
Fundrise
Invested. Got two dividends so far based on roughly 10% annualized
Post by: Palm5 on July 19, 2016, 08:30:17 AM
Invested. Got two dividends so far based on roughly 10% annualized
U invested over there? Or just mentioning a lace to invest?
Invested. Got two dividends so far based on roughly 10% annualized
Post by: Aaaron on July 19, 2016, 09:53:33 AM
What do they collect?
I'm assuming they're into the property for less than the 60k they got up front. I can sell you a property right now for <10k that would be ready to rent for less than 20k.
Legit?
I've never worked with them professionally, but I've heard good things.
Post by: churnbabychurn on July 19, 2016, 10:31:29 AM
I'm assuming they're into the property for less than the 60k they got up front. I can sell you a property right now for <10k that would be ready to rent for less than 20k.And the catch is massive insurance and repairs and maintenance expenses. + Tenant law suits every couple of months+ eviction costs etc.
No?
Post by: Dr Moose on July 19, 2016, 10:34:30 AM
And the catch is massive insurance and repairs and maintenance expenses. + Tenant law suits every couple of months+ eviction costs etc.As is with every real estate investment.
No?
Post by: churnbabychurn on July 19, 2016, 10:36:55 AM
As is with every real estate investment.Some are better than others. - these slums gotta be on the very high end.
Post by: Aaaron on July 19, 2016, 11:32:20 AM
And the catch is massive insurance and repairs and maintenance expenses. + Tenant law suits every couple of months+ eviction costs etc.
No?
Turnover and the related costs are the only real issue. Expenses are minor; about $600/year to insure, some basic maintenance, and a 10% management fee if you're not doing it yourself. As with every RE deal, a good tenant can make or break the investment.
Post by: palm tights on July 21, 2016, 01:56:43 PM
99 belmont ave brooklyn ny
99 Belmont Ave Brooklyn NY
Mixed Use building delivered vacant - Projected 8.7 Cap Rate
The property is located just off the intersection of two of Brownsville's main commercial strips -- Belmont Avenue and Mother Gaston Blvd. It is also 1 block from Pitkin Avenue -- the neighborhood's main retail strip. This is a great opportunity for an investor or an owner/user.
this brick building has two large 3-BR apartments and commercial space on first floor plus 800 sqf fixed up basement
The building is in good condition it underwent major capital improvements in 2002. Improvements include: new boiler, water heater, electrical, plumbing, stairs, walls, windows and doors, new service and meters for all utilities (water, electric and gas), a finished basement. A skylight was added in 2004 and a new roof was added in 2006.
NEARBY
TRANSPORTATION
Subways
Lat Sutter Av 0.25 miles
3at Junius St 0.45 miles
Lat Atlantic Av 0.48 miles
3at Rockaway Av 0.49 miles
Lat Livonia Av 0.49 miles
Block/Lot: 3726/40
Lot Size: 20’ X 50’ 1,000 SF
Building Size 20’ X 40'
Stories: 3 plus finished basement
Gross Sq. Ft.: 3,000 (Approx) + 800 finished basement
Zoning: R6
Assessment $4,849
Taxes: $948
*Projected Income:
*(please verify with your own rental brokers, numbers I wrote are based on feedback I got from real estates owner on that block and few different rental brokers)
(1) Ground Floor (Store) $2000 monthly
(2) Apartment $2000 monthly
(3) Apartment $2000 monthly
Monthly total projected income $6,000
Yearly Total Projected Income $72,000
Estimated Expenses:
Real Estate Taxes (Actual) $ 948 WOW!
Insurance (Actual) $2,860
Water and Sewer $1,200
Fuel (Gas) $3,600
Electricity $650
Total Expenses $9,258
Projected Net Operating Income $62,742
Asking 720,000 GIVE YOUR BEST SERIOUS OFFER!
cap rate: 8.7
Lot
Lot sq. ft.1,000 ?Lot dimensions20 ft x 50 ftCorner lotNoBuildings on lot1
Floor Area Ratio (FAR)
Max far2.43 ?FAR as built3.2 ?Maximum usable floor area2,430Usable floor area3,200SF over FAR770
Max FAR depends on several factors including zoning, location and use. FAR values for this property are: Facility FAR 4.8, Commercial FAR 0 and Residential FAR 2.43
Building
Building classPrimarily Two Family with One Store or Office (S2) ?Sq. ft.3,200Building dimensions20 ft x 40 ftStories3Has garagen/aYear built1899 (estimated)Year last alteredn/a ?Certificate of OccupancyClick here ?
Use
Residential units2Commercial units1Residential sq. ft.1,600Retail sq. ft.800Other sq. ft.800
Zoning
District codeC1-3/R6
I.m ready to listen to a 689k NET offer
Post by: hocker on September 20, 2016, 09:04:31 AM
Pretty straightforward deal.
Extremely Serious Inquiries Only.
Post by: palm tights on September 20, 2016, 09:08:17 AM
Anyone interested in providing a construction loan of $190K in cash for a return within 30-60 days of $197K is welcome to PM me.Seriously? Lol
Pretty straightforward deal.
Extremely Serious Inquiries Only.
Post by: palm tights on September 20, 2016, 09:18:33 AM
Anyone interested in providing a construction loan of $190K in cash for a return within 30-60 days of $197K is welcome to PM me.How is my money secured?
Pretty straightforward deal.
Extremely Serious Inquiries Only.
Post by: Ysturmwind on September 20, 2016, 10:21:49 AM
Post by: palm tights on September 20, 2016, 10:32:11 AM
Anyone here invest in northern NJ?Northern as jersey city ? I am looking for jersey city area ,any leads appreciated
Post by: Ysturmwind on September 20, 2016, 10:38:20 AM
Post by: hocker on September 20, 2016, 01:50:14 PM
How is my money secured?
Extremely Serious Inquiries Only.If you're serious feel free to PM.
Post by: keetonfurther on September 20, 2016, 06:46:17 PM
I don't see a threat for this so i will start here
What places and what type of investment is good to start up if you some cash to invest?
Well the thread says real estate but your question seems general. With that being said, and the fact that I saw someone mention crowdfunding, I'm going to stick within that realm. If you have money to spend and want to explore your options, seriously look into crowdfunding. They have equity, p2p, consignment, real estate, rewards based, and donation based.
Equity is pretty self explanatory as you get equity for supporting the companies. With P2P, it's a loan you and others come together to give. Im assuming you know real estate as their have been a few pages of answers. Rewards based is like Kickstarter, where you get rewards for supporting them (rewards could be exclusive prototypes, different drafts of a screenplay their producing, etc. Donation again is self explanatory, people need help so you help them and don't get much besides the feeling good for helping (sometimes tax breaks for different cases, but some are considered gifts too).
Then you have consignment which I currently use the most. In these ones, you purchase inventory for smaller brands on consignment because their demand is way higher then their supply. Brands choose consignment because it's cheaper then banks and gives them marketing as well. People use consignment because they can take money from their savings account and purchase inventory. The inventory for many of the brands is purchase order backed so that just means the brands will receive their money after net-30,60,90 even if all the inventory isn't sold. This means they are able to payback easier because they have an expected date. I'll include a link for you after this because it explains alot better than I can, well a lot faster then I can! https://www.kickfurther.com/learn-buyers?utm_medium=forum&utm_source=Crowd_funding&utm_campaign=forum_user_channel&utm_content=inline_text
Post by: mendy from lakewood on January 02, 2017, 11:15:32 AM
Post by: Ephraimh on January 02, 2017, 11:32:06 AM
Anyone here invest in northern NJ?PM me if still interested
Post by: schneury on April 27, 2017, 08:37:22 AM
Post by: Excalibur on May 17, 2017, 06:49:52 PM
Post by: palm tights on May 17, 2017, 06:50:33 PM
Post by: Moshke on May 17, 2017, 07:17:45 PM
Any deals in nj ?Many foreclosures
Post by: palm tights on May 17, 2017, 07:31:44 PM
Many foreclosuresCan you show me any leads ? Which areas?
Post by: Excalibur on May 17, 2017, 08:36:31 PM
Post by: Excalibur on May 18, 2017, 09:24:54 PM
https://drive.google.com/open?id=0B3N6ksGRTyqSd2Y0WUdqOUEwN3M
also its a property i want to buy, so if you're interested in investing please let me know.
Post by: chinagel on May 18, 2017, 11:30:13 PM
This is an updated template. please give feedback:what % of the investment do you need? are you giving that return?
https://drive.google.com/open?id=0B3N6ksGRTyqSd2Y0WUdqOUEwN3M
also its a property i want to buy, so if you're interested in investing please let me know.
Post by: Excalibur on May 19, 2017, 12:05:07 AM
Post by: palm tights on May 19, 2017, 12:08:20 AM
I need 100% of the funds from investors. Yes that is the returnHow much money ?
100 percent investment and you get 50 percent of the profit?
Post by: good sam on May 19, 2017, 12:21:43 AM
Any deals in nj ?I have a nice deal in Jersey City. Let me know if interested.
Post by: Excalibur on May 19, 2017, 12:23:01 AM
How much money ?
100 percent investment and you get 50 percent of the profit?
Yes. w/ 9% preferred return before net income distributions
Post by: good sam on May 19, 2017, 12:25:40 AM
Yes. w/ 9% preferred return before net income distributions50% promote is pretty hefty. What sort of property is it?
Post by: chinagel on May 19, 2017, 12:29:30 AM
I need 100% of the funds from investors. Yes that is the returnyour return math is off by about 4k a year
Post by: Excalibur on May 19, 2017, 12:37:38 AM
your return math is off by about 4k a year
Please clarify (i posted here for advice). I'll make sure the link is updated.
Post by: Excalibur on May 19, 2017, 12:38:24 AM
50% promote is pretty hefty. What sort of property is it?
3 units 2 2 bed and 1 1 bed
Post by: chinagel on May 19, 2017, 12:40:02 AM
Please clarify (i posted here for advice). I'll make sure the link is updated.maybe my mistake, 8088 yearly interest- 50% is repayment of loan? if yes then i was wrong.
Post by: Excalibur on May 19, 2017, 12:46:19 AM
Post by: yoohoo on May 19, 2017, 12:46:26 AM
Post by: good sam on May 19, 2017, 12:48:49 AM
3 units 2 2 bed and 1 1 bedFor a stable property with limited upside, I'm used to seeing 20-40% with 30% being most common.
Post by: Excalibur on May 19, 2017, 12:49:44 AM
Post by: Excalibur on May 19, 2017, 12:50:51 AM
For a stable property with limited upside, I'm used to seeing 20-40% with 30% being most common.
I'd rather do that than not get the deal off the ground but I have more experience than the regular guy that does this and likely will stick to my budgets
Post by: chinagel on May 19, 2017, 01:09:41 AM
No youre right thats my takeso whats the correct math?
Post by: palm tights on May 19, 2017, 01:12:51 AM
Yes. w/ 9% preferred return before net income distributionsLol sweet dreams brother
Post by: palm tights on May 19, 2017, 01:22:41 AM
Post by: Excalibur on May 19, 2017, 10:58:51 AM
I don't really get why someone would do this,instead pay less money for a broker to get the deal, its too tiny for 2 ppl to make a buck and not fare a 50 percent partnership for putting in 100 percent
I hear you. I updated it to pay out a preferred dividend of 8% with a 65% (investor) 35% split of net income.
Please take a look again.
This property has a unique market with a lot of nuances. Someone else wont be able to run this property as successfully as me.
The address is on the projection. If you think you could do it, go for it. I ain't playin no games ;-)
Post by: palm tights on May 19, 2017, 11:07:17 AM
I hear you. I updated it to pay out a preferred dividend of 8% with a 65% (investor) 35% split of net income.I am not a accountant head ,can you come in with actual numbers?
Please take a look again.
This property has a unique market with a lot of nuances. Someone else wont be able to run this property as successfully as me.
The address is on the projection. If you think you could do it, go for it. I ain't playin no games ;-)
Did anyone said you play games ? Its just made for a sucker its ain't a deal
Yea are you related to trump? Only me can run the country as myself ,lol
Post by: palm tights on May 19, 2017, 11:08:09 AM
Yes. w/ 9% preferred return before net income distributionsBtw which state is it ?
Post by: Tuna Baygel on May 19, 2017, 12:38:30 PM
Post by: palm tights on May 19, 2017, 12:45:30 PM
Can anyone recommend someone who invests and takes small money like 10-20kExplain please
Post by: Toasted on May 19, 2017, 12:54:10 PM
Can anyone recommend someone who invests and takes small money like 10-20khttp://bfy.tw/BljU
Post by: Tuna Baygel on May 19, 2017, 04:23:09 PM
http://bfy.tw/BljUI would like a recommendation not a Google search
Thanks
Post by: yuneeq on May 19, 2017, 05:02:17 PM
http://bfy.tw/BljU
Responses like yours are cancer to a forum (http://bfy.tw/BtdF).
Post by: aygart on May 19, 2017, 05:26:58 PM
Responses like yours are cancer to a forum (http://bfy.tw/BtdF).I agree that his response was inappropriate and also very wrong but chill.
Post by: solls108 on June 04, 2017, 03:19:59 PM
This is an updated template. please give feedback:Where in NJ is this? I am an investor.
https://drive.google.com/open?id=0B3N6ksGRTyqSd2Y0WUdqOUEwN3M
also its a property i want to buy, so if you're interested in investing please let me know.
Post by: joeberg on June 04, 2017, 07:51:25 PM
Where in NJ is this? I am an investor.Looks like Connecticut.
Post by: Excalibur on June 05, 2017, 01:08:22 AM
Post by: yoohoo on June 12, 2017, 06:50:57 PM
Post by: good sam on June 12, 2017, 11:43:10 PM
any good deals to share?Good deal in Bushwick right now.
Post by: sillypainter on June 12, 2017, 11:46:08 PM
Asking $320K.
PM for property address. Only serious inquiries please.
Post by: palm tights on June 13, 2017, 10:58:20 AM
A burned down 2 Family house with outside structure, available in East New York.Frame ? Cash?
Asking $320K.
PM for property address. Only serious inquiries please.
Post by: sillypainter on June 13, 2017, 11:22:47 AM
Frame ? Cash?
It has the outside structure. I'm not a contractor, you need to look at it. PM me for the address.
Post by: av83 on June 22, 2017, 11:46:48 PM
Post by: Sport on June 23, 2017, 08:13:33 AM
might be wrong thread. i made my mortgage payment at the branchby check a week ago(wellsfargo)the check did not clear yet. according to the mortgage company the payment is posted and good. can i assume something got lost and i just gained 2k+?No a
Post by: daybyday on July 10, 2017, 01:11:59 PM
Can anyone recommend someone who invests and takes small money like 10-20k
I get the energy of wanting to invest 10-20k in a real estate deal, but you should definitely know the person well before you throw your money around like that.
Post by: Ysturmwind on July 19, 2017, 09:44:00 AM
I get the energy of wanting to invest 10-20k in a real estate deal, but you should definitely know the person well before you throw your money around like that.
Agreed here - you gotta be very careful who you invest with and make sure you know and understand the deal and market. If this money is not just extra money you have to invest and not money you seriously need (who has that type of money?!? ::)) you need to be extra careful investing with people you dont know.
If something seems too good to be true it usually is....
Post by: Excalibur on July 19, 2017, 09:56:22 AM
Post by: aygart on July 19, 2017, 09:56:48 AM
I get the energy of wanting to invest 10-20k in a real estate deal, but you should definitely know the person well before you throw your money around like that.This seems to be a very good reason for someone to ask for e recommendation.
Post by: palm tights on September 10, 2017, 06:11:48 PM
Post by: palm tights on September 12, 2017, 03:32:38 PM
2 x 3 bedroom apartments in very hot upcoming location
private driveway in the back yard (drive in through alley driveway from Troy Ave)
Lot size 21.5x90
Building size 21.5x44
R6 zoning can extend upto 2.2 x the lot size = total of 4257 bsqf plus community facility - please consult and confirm with your expert the exact details ,
building has been gutted and newly renovated , currently finishing the painting and touch ups and will be ready to move in the next few weeks iyh
please see attached the floor plans
any questions feel free to messege me
Post by: schneury on January 18, 2018, 09:08:59 PM
Post by: Sammy82 on January 18, 2018, 10:46:06 PM
Post by: churnbabychurn on January 18, 2018, 11:01:40 PM
Looking to invest up to 500k. Any advice or leads?Why have you decided to invest in real estate?
Post by: Sammy82 on January 18, 2018, 11:19:30 PM
Why have you decided to invest in real estate?I need solid income. Doesn't have to be monthly but at least quarterly. And I need to know approx what's coming in.
Post by: am7734 on January 19, 2018, 12:39:35 AM
is it possible to refinance a 4 unit investment property, keeping the property in an LLC? it seems like all lenders want it on a personal name?Surely at a hard money lender.
Also, what about with a personal guarantee?
Spoke to one of the million and one brokers out there?
Post by: thaber on January 19, 2018, 01:01:11 AM
is it possible to refinance a 4 unit investment property, keeping the property in an LLC? it seems like all lenders want it on a personal name?
Surely at a hard money lender.Don't need to go to hard money. it costs a little more, and you'll probably have to have recourse. And you're a little more limited in lenders.
Also, what about with a personal guarantee?
Spoke to one of the million and one brokers out there?
speak to a broker who does residential.
Post by: thaber on January 19, 2018, 01:04:10 AM
Looking to invest up to 500k. Any advice or leads?http://www.easternuc.com/eastern-union-funding-launches-new-affiliate-buyer-division-spurred-by-the-success-of-its-affiliate-brokers.13-592-13-.html
Post by: schneury on January 19, 2018, 08:33:37 AM
Don't need to go to hard money. it costs a little more, and you'll probably have to have recourse. And you're a little more limited in lenders.
speak to a broker who does residential.
Surely at a hard money lender.spoke to several brokers and all are telling me that i need to take it out of the LLC for the refinance. how do people with a lot of investment properties take out loans at regular rates?
Also, what about with a personal guarantee?
Spoke to one of the million and one brokers out there?
Post by: thaber on January 19, 2018, 09:44:18 AM
spoke to several brokers and all are telling me that i need to take it out of the LLC for the refinance. how do people with a lot of investment properties take out loans at regular rates?When it's 5+units it's a commercial loan and not a problem. 1-4 is the issue.
Many people move it out temporarily. But that's not always an option.
there are lenders who will do it.
Post by: schneury on January 19, 2018, 09:57:14 AM
When it's 5+units it's a commercial loan and not a problem. 1-4 is the issue.will commercial loans have much higher rates?
Many people move it out temporarily. But that's not always an option.
there are lenders who will do it.
they always say they can pull the loan if you put it back in the LLC, does that ever happen?
any recommendations of lenders who do?
Post by: churnbabychurn on January 19, 2018, 10:05:56 AM
spoke to several brokers and all are telling me that i need to take it out of the LLC for the refinance. how do people with a lot of investment properties take out loans at regular rates?It is most definitely possible to do a commercial refi for a handful of properties under an LLC. not sure if 4 is too little, but definitely 10 residential is done
Post by: churnbabychurn on January 19, 2018, 10:06:59 AM
will commercial loans have much higher rates?Of course. You can't just transfer ownership of properties that are mortgaged
they always say they can pull the loan if you put it back in the LLC, does that ever happen?
any recommendations of lenders who do?
Post by: Aaaron on January 19, 2018, 10:27:50 AM
Looking to invest up to 500k. Any advice or leads?
I have a client about to offload a small (8 properties, one or two are 2-units) portfolio in Baltimore. Cash flowing, mostly government-subsidized tenants. High cap.
PM me an email address and I can provide the info when I get it sometime next week. Probably a little higher than 500 though.
Post by: joeberg on January 19, 2018, 10:36:24 AM
will commercial loans have much higher rates?There are banks that will let you put it back in the LLC.
they always say they can pull the loan if you put it back in the LLC, does that ever happen?
any recommendations of lenders who do?
Try local banks, they can give you a loan to the LLC. Brokers usually only deal with the national banks.
Post by: chinagel on January 19, 2018, 02:49:48 PM
When it's 5+units it's a commercial loan and not a problem. 1-4 is the issue.any specific ones?
Many people move it out temporarily. But that's not always an option.
there are lenders who will do it.
Post by: joeberg on January 19, 2018, 03:27:46 PM
any specific ones?A good broker who deals with investors should know.
Post by: Hatikvah on March 07, 2018, 10:46:24 AM
Have a 3 family building for sale in Brownsville area. Right past crown heights and a few blocks from the Broadway junction trains. Fully occupied, tenants on 1 year leases. R-6 zoning, frame construction and gas heating. Asking 725k. Please PM if interested, or have someone else who is interested. Thanks.
Post by: fliZ on March 08, 2018, 10:02:18 AM
Post by: bubkiz on March 08, 2018, 11:52:08 AM
For a single family rental property, does it make sense to move it under an LLC or is it not worth it and should just be kept under my name?
Depends if you want to protect your animonity to tenant or not. If you have a PO Boxor business , you can use that on the tax record whixh will make it more difficutl for trantas to figure out where you live.
For liabilty issues, just make sure to have adequate insurance.
Post by: hvaces42 on March 08, 2018, 12:21:07 PM
Depends if you want to protect your animonity to tenant or not. If you have a PO Boxor business , you can use that on the tax record whixh will make it more difficutl for trantas to figure out where you live.Animosity with tenants ::) ;D... A.N.O.N.I.M.I.T.Y.
For liabilty issues, just make sure to have adequate insurance.
Post by: fliZ on March 08, 2018, 12:36:03 PM
Depends if you want to protect your animonity to tenant or not. If you have a PO Boxor business , you can use that on the tax record whixh will make it more difficutl for trantas to figure out where you live.For a single family, self managed property, anonymity isn't really an option (or concern). Sounds like no real benefit to LLC if properly insured.
For liabilty issues, just make sure to have adequate insurance.
Post by: mercaz1 on March 08, 2018, 03:38:25 PM
Animosity with tenants ::) ;D... A.N.O.N.I.M.I.T.Y.
you might as well correct the whole post
Post by: lubaby on March 08, 2018, 03:54:19 PM
Animosity with tenants ::) ;D... A.N.O.N.Y.M.I.T.Y.FTFY :D
Post by: bubkiz on March 08, 2018, 04:46:32 PM
Depends if you want to protect your anonymity to tenants or not. If you have a PO Box or business address, you can use that on the tax record which will make it more difficult for tenants to figure out where you live.
For liabilty issues, just make sure to have adequate insurance.
Corrected.
Holding it in an LLC will make it more difficult and expensive to refinance.
Post by: Ephraimh on March 08, 2018, 07:48:47 PM
Hi all,Pm sent
Have a 3 family building for sale in Brownsville area. Right past crown heights and a few blocks from the Broadway junction trains. Fully occupied, tenants on 1 year leases. R-6 zoning, frame construction and gas heating. Asking 725k. Please PM if interested, or have someone else who is interested. Thanks.
Post by: Yehuda25 on March 08, 2018, 08:12:55 PM
Animosity with tenants ::) ;D... A.N.O.N.I.M.I.T.Y.;D
Post by: Mr.Lou-RealEstate on March 08, 2018, 10:20:28 PM
The Offering:
6-Family investment opportunity in one of the most desirable neighborhoods in Brooklyn. The subject property is located at 435 Dekalb Ave between Taaffe and Classon Avenues in Bed-Stuy Brooklyn. Property consist of a total of 8 Units - six 3 bedroom/1 bath railroad style apartments with open kitchens, ALL VACANT! Two commercial spaces totaling in 1,755 sq. ft., (1 vacant 875 SF each with full basements). Indian Restaurant occupying one of the commercial units has 7 years remaining on lease and pays $4,000 monthly with no increases.
Zoning: R7A - C2-4 - MAX FAR: 4
Property sits on a 27' x 100' Lot. Building is currently7,020 SF with an additional 3,800s buildable remaining. The six apartments are vacant and ready to be rented as-is for current market value.
No renovations required!
Location Highlights:
• Pratt University around the corner
• Walking distance to the G, C and S trains making it easy to get anywhere in Manhattan.
• Nearby amenities include shops, dining, religious facilities, medical centers, schools, daycares, banks, supermarkets and more.
CALL ME TODAY FOR MORE INFORMATION
LUIS V. BRIONES, JR.
M.S. Real Estate Finance & Investments (NYU '08)
Licensed Real Estate Broker - License # 10401290045
Rapid Realty NYC
M:(347) 391-0056 | F. (718) 228-7918
E: LuisVBrionesJr@gmail.com
A: 93-49 71st Drive
Forest Hills, NY 11375
Expertise in Leasing, Sales, Acquisitions, and Consulting of Commercial and Residential Real Estate Properties
Each RAPID REALTY office is an independently owned and operated Franchise, with its own Licensed Real Estate Broker and Licensed Real Estate Salespersons working for them.
CONFIDENTIALITY STATEMENT: THE INFORMATION CONTAINED IN THIS TRANSMISSION MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION. It is intended only for the use of the addressee. If the person actually receiving this communication or any other reader of the communication is not the named recipient, or the employee or agent responsible for delivering it to the recipient, any use, dissemination, distribution or copying of this communication is STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, please immediately notify us by return e-mail, and DESTROY this communication and all copies thereof, including all attachments
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D. Roosevelt
Post by: hvaces42 on March 08, 2018, 10:51:23 PM
OFF MARKET 6-FAMILY PROPERTY FOR SALE - ASKING $4,200,000I'll give you $6MM Cash right now.
The Offering:
6-Family investment opportunity in one of the most desirable neighborhoods in Brooklyn. The subject property is located at 435 Dekalb Ave between Taaffe and Classon Avenues in Bed-Stuy Brooklyn. Property consist of a total of 8 Units - six 3 bedroom/1 bath railroad style apartments with open kitchens, ALL VACANT! Two commercial spaces totaling in 1,755 sq. ft., (1 vacant 875 SF each with full basements). Indian Restaurant occupying one of the commercial units has 7 years remaining on lease and pays $4,000 monthly with no increases.
Zoning: R7A - C2-4 - MAX FAR: 4
Property sits on a 27' x 100' Lot. Building is currently7,020 SF with an additional 3,800s buildable remaining. The six apartments are vacant and ready to be rented as-is for current market value.
No renovations required!
Location Highlights:
• Pratt University around the corner
• Walking distance to the G, C and S trains making it easy to get anywhere in Manhattan.
• Nearby amenities include shops, dining, religious facilities, medical centers, schools, daycares, banks, supermarkets and more.
CALL ME TODAY FOR MORE INFORMATION
LUIS V. BRIONES, JR.
M.S. Real Estate Finance & Investments (NYU '08)
Licensed Real Estate Broker - License # 10401290045
Rapid Realty NYC
M:(347) 391-0056 | F. (718) 228-7918
E: LuisVBrionesJr@gmail.com
A: 93-49 71st Drive
Forest Hills, NY 11375
Expertise in Leasing, Sales, Acquisitions, and Consulting of Commercial and Residential Real Estate Properties
Each RAPID REALTY office is an independently owned and operated Franchise, with its own Licensed Real Estate Broker and Licensed Real Estate Salespersons working for them.
CONFIDENTIALITY STATEMENT: THE INFORMATION CONTAINED IN THIS TRANSMISSION MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION. It is intended only for the use of the addressee. If the person actually receiving this communication or any other reader of the communication is not the named recipient, or the employee or agent responsible for delivering it to the recipient, any use, dissemination, distribution or copying of this communication is STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, please immediately notify us by return e-mail, and DESTROY this communication and all copies thereof, including all attachments
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D. Roosevelt
Post by: Ephraimh on March 10, 2018, 10:57:28 PM
they always say they can pull the loan if you put it back in the LLC, does that ever happen?You have to wait minimum a few months for the bank to sell your mortgage to an investment bank, once the bank sells it and you make your monthly payments on time they usually never pull the loan,
Unless you start missing payments and they look into the loan then they can tell you that they wanna pull the loan and you should refinance it right away, otherwise you’re good
Post by: thaber on March 10, 2018, 11:41:31 PM
will commercial loans have much higher rates?
they always say they can pull the loan if you put it back in the LLC, does that ever happen?
any recommendations of lenders who do?
You have to wait minimum a few months for the bank to sell your mortgage to an investment bank, once the bank sells it and you make your monthly payments on time they usually never pull the loan,Keep in mind that this is not the kind of decision that you make based on anonymous opinions in a forum
Unless you start missing payments and they look into the loan then they can tell you that they wanna pull the loan and you should refinance it right away, otherwise you’re good
Post by: Ephraimh on March 10, 2018, 11:42:52 PM
Keep in mind that this is not the kind of decision that you make based on anonymous opinions in a forumThat’s a given.
Post by: thaber on March 10, 2018, 11:43:23 PM
That’s a given.You'd be surprised
Post by: Mr.Lou-RealEstate on March 13, 2018, 12:25:54 PM
OFF MARKET 6-FAMILY PROPERTY FOR SALE - ASKING $4,200,000
The Offering:
6-Family investment opportunity in one of the most desirable neighborhoods in Brooklyn. The subject property is located at 435 Dekalb Ave between Taaffe and Classon Avenues in Bed-Stuy Brooklyn. Property consists of a total of 8 Units - six 3 bedroom/railroad-styled style apartments with open kitchens, ALL VACANT! Two commercial spaces totaling in 1,755 sq. ft., (1 vacant 875 SF each with full basements). Indian Restaurant occupying one of the commercial units has 7 years remaining on the lease and pays $4,000 monthly with no increases.
Zoning: R7A - C2-4 - MAX FAR: 4
Property sits on a 27' x 100' Lot. Building is currently7,020 SF with an additional 3,800s buildable remaining. The six apartments are vacant and ready to be rented as-is for current market value.
No renovations required!
Location Highlights:
• Pratt University around the corner
• Walking distance to the G, C and S trains making it easy to get anywhere in Manhattan.
• Nearby amenities include shops, dining, religious facilities, medical centers, schools, daycares, banks, supermarkets and more.
CALL ME TODAY FOR MORE INFORMATION
LUIS V. BRIONES, JR.
M.S. Real Estate Finance & Investments (NYU '08)
Licensed Real Estate Broker - License # 10401290045
Rapid Realty NYC
M:(347) 391-0056 | F. (718) 228-7918
E: LuisVBrionesJr@gmail.com
A: 93-49 71st Drive
Forest Hills, NY 11375
Expertise in Leasing, Sales, Acquisitions, and Consulting of Commercial and Residential Real Estate Properties
Each RAPID REALTY office is an independently owned and operated Franchise, with its own Licensed Real Estate Broker and Licensed Real Estate Salespersons working for them.
CONFIDENTIALITY STATEMENT: THE INFORMATION CONTAINED IN THIS TRANSMISSION MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION. It is intended only for the use of the addressee. If the person actually receiving this communication or any other reader of the communication is not the named recipient, or the employee or agent responsible for delivering it to the recipient, any use, dissemination, distribution or copying of this communication is STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, please immediately notify us by return e-mail, and DESTROY this communication and all copies thereof, including all attachments
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D. Roosevelt
Post by: JayR on March 13, 2018, 05:05:24 PM
SHOWING PROPERTY TOMORROW (March 14, 2018 between 10AM to 12PM). PLEASE CONTACT TO REGISTER TO SEE THE PROPERTY.
Location Highlights:
• Pratt Institute*
FTFY
Also, you should probably mention that the building is across the street from a huge housing project, Lafayette Gardens, and that there is a police precinct less than 100 feet from your building.
Post by: ADG on March 13, 2018, 05:14:23 PM
Post by: hvaces42 on March 14, 2018, 06:09:49 PM
FTFYAnd that a reasonable price for a 6 family in the neighborhood is a couple million less than the ask.
Also, you should probably mention that the building is across the street from a huge housing project, Lafayette Gardens, and that there is a police precinct less than 100 feet from your building.
Post by: Mr.Lou-RealEstate on March 17, 2018, 06:47:44 PM
Post by: palm tights on April 08, 2018, 08:47:30 AM
OFF MARKET 6-FAMILY PROPERTY FOR SALE - ASKING $4,200,000Still available?
The Offering:
6-Family investment opportunity in one of the most desirable neighborhoods in Brooklyn. The subject property is located at 435 Dekalb Ave between Taaffe and Classon Avenues in Bed-Stuy Brooklyn. Property consist of a total of 8 Units - six 3 bedroom/1 bath railroad style apartments with open kitchens, ALL VACANT! Two commercial spaces totaling in 1,755 sq. ft., (1 vacant 875 SF each with full basements). Indian Restaurant occupying one of the commercial units has 7 years remaining on lease and pays $4,000 monthly with no increases.
Zoning: R7A - C2-4 - MAX FAR: 4
Property sits on a 27' x 100' Lot. Building is currently7,020 SF with an additional 3,800s buildable remaining. The six apartments are vacant and ready to be rented as-is for current market value.
No renovations required!
Location Highlights:
• Pratt University around the corner
• Walking distance to the G, C and S trains making it easy to get anywhere in Manhattan.
• Nearby amenities include shops, dining, religious facilities, medical centers, schools, daycares, banks, supermarkets and more.
CALL ME TODAY FOR MORE INFORMATION
LUIS V. BRIONES, JR.
M.S. Real Estate Finance & Investments (NYU '08)
Licensed Real Estate Broker - License # 10401290045
Rapid Realty NYC
M:(347) 391-0056 | F. (718) 228-7918
E: LuisVBrionesJr@gmail.com
A: 93-49 71st Drive
Forest Hills, NY 11375
Expertise in Leasing, Sales, Acquisitions, and Consulting of Commercial and Residential Real Estate Properties
Each RAPID REALTY office is an independently owned and operated Franchise, with its own Licensed Real Estate Broker and Licensed Real Estate Salespersons working for them.
CONFIDENTIALITY STATEMENT: THE INFORMATION CONTAINED IN THIS TRANSMISSION MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION. It is intended only for the use of the addressee. If the person actually receiving this communication or any other reader of the communication is not the named recipient, or the employee or agent responsible for delivering it to the recipient, any use, dissemination, distribution or copying of this communication is STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, please immediately notify us by return e-mail, and DESTROY this communication and all copies thereof, including all attachments
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D. Roosevelt
Post by: good sam on April 09, 2018, 12:27:00 AM
For a single family rental property, does it make sense to move it under an LLC or is it not worth it and should just be kept under my name?
Depends if you want to protect your animonity to tenant or not. If you have a PO Boxor business , you can use that on the tax record whixh will make it more difficutl for trantas to figure out where you live.
For liabilty issues, just make sure to have adequate insurance.
For a single family, self managed property, anonymity isn't really an option (or concern). Sounds like no real benefit to LLC if properly insured.You guys are missing a couple of things.
First, an LLC doesn't only protect you from liability due to personal injury. It also shields you from possible contractual disputes.
Second, holding the property in an LLC doesn't only shield you from liability relating to this property. If also shields this property from any other liabilities you may have in your personal capacity.
Post by: palm tights on April 09, 2018, 12:32:56 AM
Post by: hvaces42 on April 09, 2018, 08:28:31 AM
Looking to buy a investment property with minimum 10% return in tri state ny area with a 1031 Exchange over a million+100000000000
Im also looking for fairies and unicorns, at a discount of course.
Post by: palm tights on April 09, 2018, 09:20:33 AM
+100000000000Chill brother
Im also looking for fairies and unicorns, at a discount of course.
Post by: efflpetzel on April 09, 2018, 06:31:31 PM
+100000000000
Im also looking for fairies and unicorns, at a discount of course.
Post by: yuneeq on April 10, 2018, 03:45:06 PM
+100000000000
Im also looking for fairies and unicorns, at a discount of course.
Is it really impossible to find this type of investment in the tri-state?
It may be a lot riskier than usual but I'm sure you can find it.
Post by: palm tights on April 10, 2018, 08:24:42 PM
Is it really impossible to find this type of investment in the tri-state?Definitely can find, you need always to look who the poster is , he is known for alot of bla bla
It may be a lot riskier than usual but I'm sure you can find it.
Post by: hvaces42 on April 12, 2018, 09:05:46 AM
Definitely can find, you need always to look who the poster is , he is known for alot of bla blaRight. Attack the messenger.
Find me a 10% annualized return on real estate in tri-state area for a $1MM investment (those were your parameters) and I will keep you busy closing deals 6 days a week 24 hours a day. If it was a 10% return overall and not annualized then I have a list of deals for you. All you gave to do is hold them until you hit 10% return and then sell (Warning: May take you 10 years or more).
Post by: hvaces42 on April 12, 2018, 09:06:44 AM
Is it really impossible to find this type of investment in the tri-state?Yes, you can lend people money at 12% too on real estate. But you need a stomach for that.
It may be a lot riskier than usual but I'm sure you can find it.
Post by: gingyguy on April 12, 2018, 10:15:40 AM
Yes, you can lend people money at 12% too on real estate. But you need a stomach for that.once youre doing hard loans on real estate you can often get alot more than 12 %
Post by: hvaces42 on April 12, 2018, 10:36:25 AM
once youre doing hard loans on real estate you can often get alot more than 12 %12+points But he's talking safe at 10% which is unicorns and fairies.
Post by: gingyguy on April 12, 2018, 10:55:51 AM
12+points But he's talking safe at 10% which is unicorns and fairies.nothing is ever safe . some things are safer than others
Post by: Sammy82 on April 12, 2018, 12:41:19 PM
once youre doing hard loans on real estate you can often get alot more than 12 %Really? Care to share how you could get more than 12%?
Post by: schneury on April 12, 2018, 12:43:55 PM
Post by: Mr.Lou-RealEstate on April 19, 2018, 10:36:20 AM
Six properties consisting of 4 adjacent parking lots/garages on East 148th Street and 2 mixed-used bldgs around the corner on East 149th Street, across from Lincoln Medical Center. Approximately 90,000 buildable sq.ft.
CALL ME TODAY TO DISCUSS - (347) 391-0056
LUIS V. BRIONES, JR.
M.S. Real Estate Finance & Investments (NYU '08)
Licensed Real Estate Broker - License # 10401290045
Rapid Realty NYC
M:(347) 391-0056 | F. (718) 228-7918
E: LuisVBrionesJr@gmail.com
A: 93-49 71st Drive
Forest Hills, NY 11375
Expertise in Leasing, Sales, Acquisitions, and Consulting of Commercial and Residential Real Estate Properties
Each RAPID REALTY office is an independently owned and operated Franchise, with its own Licensed Real Estate Broker and Licensed Real Estate Salespersons working for them.
CONFIDENTIALITY STATEMENT: THE INFORMATION CONTAINED IN THIS TRANSMISSION MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION. It is intended only for the use of the addressee. If the person actually receiving this communication or any other reader of the communication is not the named recipient, or the employee or agent responsible for delivering it to the recipient, any use, dissemination, distribution or copying of this communication is STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, please immediately notify us by return e-mail, and DESTROY this communication and all copies thereof, including all attachments
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D. Roosevelt
Post by: Hatikvah on August 20, 2018, 02:57:39 PM
Hi all,
Have a 3 family building for sale in Brownsville area. Right past crown heights and a few blocks from the Broadway junction trains. Fully occupied, tenants on 1 year leases. R-6 zoning, frame construction and gas heating. Asking 725k. Please PM if interested, or have someone else who is interested. Thanks.
Hi,
The owner got back to me this week for this building and told me it is still on the market and they want to unload it ASAP for $620k. Please PM if interested or if there is any more questions. Thanks.
Post by: ADG on August 20, 2018, 05:31:34 PM
Post by: ual902 on January 14, 2019, 06:34:58 PM
Post by: S209 on January 14, 2019, 10:50:28 PM
12+points But he's talking safe at 10% which is unicorns and fairies.Safe is a very relative term but you can definitely get many, many 1MM+ properties returning 10% in the tri-state area, with risk parameters that I personally can stomach. Obviously depends on the investor. But there are syndicator putting together deals for investors that are returning that much, and that’s after their bogus cuts/fees/percentages.
Post by: Zevi16 on January 14, 2019, 11:20:48 PM
Safe is a very relative term but you can definitely get many, many 1MM+ properties returning 10% in the tri-state area, with risk parameters that I personally can stomach. Obviously depends on the investor. But there are syndicator putting together deals for investors that are returning that much, and that’s after their bogus cuts/fees/percentages.You don’t stop moaning about other peoples fees. Don’t you realize that economy runs off of people doing business. Everyone supports the next guy. That’s economy.
If you were to do everything that others are making money off you, you would be grinding your own flour to make your bread.
Post by: S209 on January 14, 2019, 11:40:15 PM
You don’t stop moaning about other peoples fees. Don’t you realize that economy runs off of people doing business. Everyone supports the next guy. That’s economy.Quite the opposite. I always say that the only equation that matters is whether you need/want something, and whether you can access it elsewhere for a better price. If not, it’s a good deal for you. See my most recent post in the thread with the guy asking about a 250K loan.
If you were to do everything that others are making money off you, you would be grinding your own flour to make your bread.
Just pointing out that 10% is accessible even after the syndicator’s fees being added. Kal vachomer if you’re looking to get the deal yourself..
Post by: Zevi16 on January 14, 2019, 11:42:20 PM
Quite the opposite. I always say that the only equation that matters is whether you need/want something, and whether you can access it elsewhere for a better price. If not, it’s a good deal for you. See my most recent post in the thread with the guy asking about a 250K loan.As with an agent. You are paying for the deal. I’ve said this many times. Find me a good deal and I’ll invest in you. If I bring you the deal you pay me for finding it. It’s business honey.
Just pointing out that 10% is accessible even after the syndicator’s fees being added. Kal vachomer if you’re looking to get the deal yourself..
Post by: S209 on January 14, 2019, 11:43:48 PM
As with an agent. You are paying for the deal. I’ve said this many times. Find me a good deal and I’ll invest in you. If I bring you the deal you pay me for finding it. It’s business honey.Don’t get me started on agents
Post by: Zevi16 on January 14, 2019, 11:45:28 PM
Don’t get me started on agentsI hate them more than you but for a very different reason.
Do you hate shadchanim for charging 2k for a shidduch when all they did was make a few phone calls or do you understand that they had to try and fail on hundreds of others?
Post by: S209 on January 14, 2019, 11:47:40 PM
I hate them more than you but for a very different reason.This is not the right thread for this. But A) Shadchanim and agents are very different and B) I’m not saying I don’t fargin the agents, just that the system is insane, and should be disrupted. I’ve mentioned this before on DDF.
Do you hate shadchanim for charging 2k for a shidduch when all they did was make a few phone calls or do you understand that they had to try and fail on hundreds of others?
ETA: By “fart in”, I meant fargin
Post by: Zevi16 on January 14, 2019, 11:54:22 PM
This is not the right thread for this. But A) Shadchanim and agents are very different and B) I’m not saying I don’t fargin the agents, just that the system is insane, and should be disrupted. I’ve mentioned this before on DDF.I know you’ve mentioned it and you’re not getting it.
Successful businessmen pass things over to others to have more time for themselves to make money.
As I’ve told you before. When it comes to business I’m here to make money not save money.
Of course my side hobby is saving money but not in the business world. Now obviously in each line of business you are out there to save. By bargaining, getting better prices etc but time is valuable.
Post by: thaber on January 15, 2019, 02:38:48 AM
https://www.forbes.com/sites/realspin/2014/08/18/a-penny-saved-was-never-a-penny-earned/#31709e182e88
As I’ve told you before. When it comes to business I’m here to make money not save money.
Of course my side hobby is saving money but not in the business world. Now obviously in each line of business you are out there to save. By bargaining, getting better prices etc but time is valuable.
Post by: S209 on January 15, 2019, 01:06:32 PM
https://www.forbes.com/sites/realspin/2014/08/18/a-penny-saved-was-never-a-penny-earned/#31709e182e88Nice article. Also, strengthens my point. Wasting money unnecessarily (like by overpaying for real estate investments through inflated agent pricing) costs you double.
Post by: ExGingi on June 18, 2019, 03:49:46 PM
https://www.bloomberg.com/news/articles/2019-06-18/tax-haven-wedding-venues-become-nightmare-for-retiree-investors?srnd=premium
Post by: hvaces42 on June 18, 2019, 03:53:59 PM
File this one under how NOT to invest in Real Estate:And heres a good reason why not to invest in NY Real Estate...
https://www.bloomberg.com/news/articles/2019-06-18/tax-haven-wedding-venues-become-nightmare-for-retiree-investors?srnd=premium
https://www.nytimes.com/2019/06/17/nyregion/newyorktoday/nyc-news-rent-laws-ny.html
Post by: ExGingi on June 18, 2019, 04:04:13 PM
And heres a good reason why not to invest in multi-unit residential NY Real Estate...FTFY
https://www.nytimes.com/2019/06/17/nyregion/newyorktoday/nyc-news-rent-laws-ny.html
Post by: hvaces42 on June 18, 2019, 04:13:51 PM
FTFYNot sure if the security deposit and job loss (no eviction) provisions apply to everyone
Post by: JS69 on June 18, 2019, 04:59:15 PM
And heres a good reason why not to invest in NY Real Estate...
https://www.nytimes.com/2019/06/17/nyregion/newyorktoday/nyc-news-rent-laws-ny.html
The Dems have destroyed this city. Hopefully everyone will wake up next election round.
Post by: ExGingi on June 18, 2019, 05:13:06 PM
The Dems have destroyed this city. Hopefully everyone will wake up next election round.Don’t hold your breath. Ain’t happening.
Post by: grodnoking on June 18, 2019, 05:20:53 PM
Post by: ExGingi on June 18, 2019, 05:29:05 PM
Where we moving to? Land taxes is to high in Jersey.Staying put here.
Post by: ~King Lake~ on June 18, 2019, 05:30:52 PM
Where we moving to? Land taxes is to high in Jersey.maybe come to NY for little while and then when you're gonna go back to NJ you'll say ho wow so cheap taxes over here
Post by: grodnoking on June 18, 2019, 05:43:15 PM
maybe come to NY for little while and then when you're gonna go back to NJ you'll say ho wow so cheap taxes over hereThe cost of property tax completely negates+ what you'd save in Jersey on income tax. Unless you make a significant amount more than average.
Post by: hvaces42 on June 18, 2019, 08:18:42 PM
The cost of property tax completely negates+ what you'd save in Jersey on income tax. Unless you make a significant amount more than average.NY property tax aint what it used to be. And water rates have skyrocketed where your monthly bill is basically what your quarterly bill used to be. I pay $6k in RE Taxes on a 2 family and $3600 in Water and Sewer. Throw in the annual sanitation summons and youre darn close to NJ RE Taxes.
Post by: whacked1 on June 18, 2019, 08:22:27 PM
Not sure if the security deposit and job loss (no eviction) provisions apply to everyone+1 Plenty of items applying to all rentals. Security, retaliatory holdovers, previous rental history, excessive increases and notices etc
Post by: Zalc on June 18, 2019, 09:01:39 PM
Great detailed summary of changes that affect both stabilized and non-stabilized units
Post by: grodnoking on June 18, 2019, 09:31:25 PM
NY property tax aint what it used to be. And water rates have skyrocketed where your monthly bill is basically what your quarterly bill used to be. I pay $6k in RE Taxes on a 2 family and $3600 in Water and Sewer. Throw in the annual sanitation summons and youre darn close to NJ RE Taxes.In Lakewood a 500k house will put you down 10k in property tax.
Post by: skyguy918 on June 18, 2019, 09:55:20 PM
NY property tax aint what it used to be. And water rates have skyrocketed where your monthly bill is basically what your quarterly bill used to be. I pay $6k in RE Taxes on a 2 family and $3600 in Water and Sewer. Throw in the annual sanitation summons and youre darn close to NJ RE Taxes.3600 for water and sewer? Are you running a farm or something?
Post by: ExGingi on June 18, 2019, 10:00:55 PM
3600 for water and sewer? Are you running a farm or something?I pay more. Teenage girls and lots of guests BH.
Post by: ExGingi on June 18, 2019, 10:01:50 PM
In Lakewood a 500k house will put you down 10k in property tax.I hear Monsey is just as bad, if not worse.
Post by: grodnoking on June 18, 2019, 10:06:16 PM
I hear Monsey is just as bad, if not worse.Yeah. Out of NYC it could get up to 2.4%.
Post by: ExGingi on June 18, 2019, 10:12:17 PM
Yeah. Out of NYC it could get up to 2.4%.What is a retiree on Social Security supposed to do about this? Will the increase in their property value drive them out of their home as it becomes unaffordable to pay the tax?
Post by: grodnoking on June 18, 2019, 10:14:11 PM
What is a retiree on Social Security supposed to do about this? Will the increase in their property value drive them out of their home as it becomes unaffordable to pay the tax?Yes.
Post by: Joe4007 on June 19, 2019, 09:45:09 AM
Post by: zh cohen on June 19, 2019, 10:36:58 AM
In Lakewood a 500k house will put you down 10k in property tax.
Where I live you can pay close to that ($7,500-8,000) for a 200k house.
Post by: mercaz1 on June 19, 2019, 11:40:55 AM
Post by: hvaces42 on June 19, 2019, 12:46:38 PM
3600 for water and sewer? Are you running a farm or something?6 people in my household, 7 tenants.
Post by: ExGingi on June 19, 2019, 01:02:25 PM
6 people in my household, 7 tenants.
Despite what people are trying to promote as equality, not all people are equal when it comes to water and sewer consumption.
I pay more. Teenage girls and lots of guests BH.
Post by: YesThatsMe on June 27, 2019, 11:29:32 PM
Whoever is complaining that the new rent laws hurts him is either a liar or sucks at underwriting his deals.
Any existing owner being hurt by this is just using it as an excuse for bad buys in the last few years. RGB rents have only gone up by fractional amounts the last 5 years, less than 2% a year, so one cannot complain about the caps on rent increases. IAIs are almost impossible to do except on turnover. MCIs get capped now, sure, but if it’s the difference between a 4% annual increase and a 2% is what is blowing up a deal, then the operator didn’t have enough cushion to start with.
And as for unit turnover and deregulation… do you know how hard this is to do now? From 2012-2017 something like 5,000 units a year were deregulated in NYC. That’s a fair number, I guess, but one cannot make the case that we’re going to see a wave of defaults simply because those 5,000 units no longer get deregulated.
What we’re going to see is that people who bought in 2015-2018 on the back of cheap debt and the assumption they could buy-out or evict tenants, getting their positions wiped out and blaming the new rent regs for their bad decision making. As far as tenant protection goes, the writing was on the wall a long time ago. It’s not easy, at all, to buy out tenants these days. There were approximately 966,000 rent stabilized apartments in NYC in 2017 (exc. rent controlled units); there were 3,517 that deregulated. That is .36% – even if you assume that many owners couldn’t or wouldn’t want to deregulate, you are still looking at minimal turnover. People made fortunes doing this in Brooklyn in the early 2000’s because with cheap buyouts and shady eviction practices they were getting 10-20% turnover. That just does not happen any more. Anyone who has underwrote to try and achieve that in the last half decade, deserves what they’re getting.
If ///// is such an operator then he should leave the industry, not NYC. A lot of the LP money in the community is raised on the basis of shoddy and unrealistic assumptions. Perhaps these laws will just put an end to that. And obviously, 99% of the “crocodile” tears are from those who like cheap talk but don’t even own a broom closet in a RGB building (or any building).
Post by: yuneeq on June 28, 2019, 01:03:55 AM
Repost:
Whoever is complaining that the new rent laws hurts him is either a liar or sucks at underwriting his deals.
Any existing owner being hurt by this is just using it as an excuse for bad buys in the last few years. RGB rents have only gone up by fractional amounts the last 5 years, less than 2% a year, so one cannot complain about the caps on rent increases. IAIs are almost impossible to do except on turnover. MCIs get capped now, sure, but if it’s the difference between a 4% annual increase and a 2% is what is blowing up a deal, then the operator didn’t have enough cushion to start with.
And as for unit turnover and deregulation… do you know how hard this is to do now? From 2012-2017 something like 5,000 units a year were deregulated in NYC. That’s a fair number, I guess, but one cannot make the case that we’re going to see a wave of defaults simply because those 5,000 units no longer get deregulated.
What we’re going to see is that people who bought in 2015-2018 on the back of cheap debt and the assumption they could buy-out or evict tenants, getting their positions wiped out and blaming the new rent regs for their bad decision making. As far as tenant protection goes, the writing was on the wall a long time ago. It’s not easy, at all, to buy out tenants these days. There were approximately 966,000 rent stabilized apartments in NYC in 2017 (exc. rent controlled units); there were 3,517 that deregulated. That is .36% – even if you assume that many owners couldn’t or wouldn’t want to deregulate, you are still looking at minimal turnover. People made fortunes doing this in Brooklyn in the early 2000’s because with cheap buyouts and shady eviction practices they were getting 10-20% turnover. That just does not happen any more. Anyone who has underwrote to try and achieve that in the last half decade, deserves what they’re getting.
If ///// is such an operator then he should leave the industry, not NYC. A lot of the LP money in the community is raised on the basis of shoddy and unrealistic assumptions. Perhaps these laws will just put an end to that. And obviously, 99% of the “crocodile” tears are from those who like cheap talk but don’t even own a broom closet in a RGB building (or any building).
.
Post by: shulemw on June 28, 2019, 01:47:19 AM
Why is someone who bought a building with the assumption of doing buyouts, That got more expensive, but was still doable, and if you knew how to talk good it wasnt so expensive, Why is he considered a. ...and he should quit whats wrong??
Let alone the argument about the percentage of the units that got deregulated...
From getting $900 a unit till being deregulated there was a long path in the middle that was possible and profitable to take. was normal ways to get any vacated unit from $900 to $2200 and it was still regulated but it added alot to the value.
So please before writing or reposting think a second
Post by: YesThatsMe on June 28, 2019, 11:01:45 AM
What nonsense. looks like you dont even own a broom let alone a closet.
Why is someone who bought a building with the assumption of doing buyouts, That got more expensive, but was still doable, and if you knew how to talk good it wasnt so expensive, Why is he considered a. ...and he should quit whats wrong??
Let alone the argument about the percentage of the units that got deregulated...
From getting $900 a unit till being deregulated there was a long path in the middle that was possible and profitable to take. was normal ways to get any vacated unit from $900 to $2200 and it was still regulated but it added alot to the value.
So please before writing or reposting think a second
Whoa don't shoot the messenger, it was a repost which I though adds some color to the debate, from the other side.
You're right, I do not own anything in NYC.
He says buyouts were made tough to impossible. You say otherwise. I'm not judging, I want to see dry hard numbers that show how many units (as a % of inventory) were deregulated through buyout-to-vacant in the last few years.
I guess this operator feels differently about the issue.
Post by: JS69 on June 28, 2019, 01:58:18 PM
1) The small guy who bought a 6 unit building for his family. Banking on the guy paying $500 a month to move out and putting someone in at $2000. Not going to happen. That guy will have a tenant who won't pay it will take 18-24 months to evict. That guy will hurt
2) Anyone in an associated part of the industry. Our contractor supplier laid of 4 employees already just to try and stay ahead of the game. We do no plan on doing any renovations in the near future until we all sort these items out. So that means our contractors will be forced to lay off employees. Brokers will not sell buildings, brokers will not rent as many apartments (or higher fee apartments etc...) And the trickle down continues.
3) The "tenant in need of low income housing" are not getting the lower priced apartments. We just had a 2 bedroom apartment who if we were able to do our vacancy increase and IAI's would have rented for $2650. Instead we chose not to do the work and kept it at less than $1700. We had multiple application and chose to give it to a student with a guarantor with the hope that in 2 years some aspect of the laws will change and we can adjust then.
These laws were not thought out and will have a ripple effect across the city and state. They simply protect the same people who have been in a $600 4 bedroom upper west side apartment for 50 years that will probably outlive all of us!!!!
Post by: YesThatsMe on June 30, 2019, 01:42:14 AM
Post by: shulemw on June 30, 2019, 02:17:42 AM
as i wrote earlier from $700 till deregulation at $2775 there is a long way to get people to renovate profitably.
lets say you had a $700 unit and the tenant moved out or even you offered him a 15k buyout then renovated the unit for 35k and raising the rent to $2400. this unit is still regulated but it brings in $1700 more a month
Post by: hvaces42 on July 02, 2019, 12:44:53 AM
Post by: JS69 on July 02, 2019, 10:40:31 AM
Your point in number 3 is contradictory. Clearly the law has helped this guy, he got a unit for $1,700 that would of costed him $2,650If you read the rest of my post, you will see that it didn't go to a low income tenant like the city thinks it is. I rented it to a student whose father is the guarantor (the father is a doctor out of state making more than $750,000 a year. I didn't give it to a family of 4 who works at a bodega......
Post by: Dovdovmoneytree on July 02, 2019, 03:40:25 PM
Post by: uo on January 01, 2020, 09:30:50 PM
Post by: ltttc on January 02, 2020, 12:35:20 PM
Incredible Commercial Property Management Company is growing & taking new clients. Managing over 100 Million Sq Ft in over 8 states. Saved customers thousands of dollars they had no idea they can get. If your are ok about your current management company reach out to me to see if & we discuss your account to see what savings we can get you.Only commercial or residential as well?
Post by: uo on January 02, 2020, 07:12:31 PM
Post by: good sam on January 02, 2020, 07:46:11 PM
Incredible Commercial Property Management Company is growing & taking new clients. Managing over 100 Million Sq Ft in over 8 states. Saved customers thousands of dollars they had no idea they can get. If your are ok about your current management company reach out to me to see if & we discuss your account to see what savings we can get you.This is pretty vague. What exactly does ICPMC do that other companies don't to save money? Or is that a trade secret?
Post by: Kvending on January 05, 2020, 03:27:24 PM
This is strictly for current office owners only.
Post by: ltttc on January 05, 2020, 07:41:58 PM
I have a great deal for someone who CURRENTLY owns a lot of Office Property.Care to share?
This is strictly for current office owners only.
Post by: JS69 on February 07, 2020, 11:35:31 AM
Pro's/Con's?personal experience?
Thanks
Post by: incendia on February 07, 2020, 02:27:08 PM
Anyone have any experience or knowledge regarding post offices?
Pro's/Con's?personal experience?
Thanks
@CountValentine
Post by: CountValentine on February 07, 2020, 02:33:26 PM
Anyone have any experience or knowledge regarding post offices?In what regards?
Pro's/Con's?personal experience?
Thanks
Post by: Lou Bob on February 07, 2020, 04:26:59 PM
In what regards?The UPS trick. Doesn't work anymore afaik.
Post by: wildcard on May 11, 2020, 10:49:50 AM
Post by: cgr on November 30, 2020, 03:36:46 PM
HUD covid-related costs reimbursement program for properties with the following designations (it's not for properties with "tenant-based" rental assistance, rather it's for properties with "project-based" rental assistance).
A. Section 8 Project-Based Rental Assistance (PBRA)
1. New Construction
2. State Housing Agencies Program
3. Substantial Rehabilitation
4. Section 202/8
5. Rural Housing Services Section 515/8
6. Loan Management Set-Aside (LMSA)
7. Property Disposition Set-Aside (PDSA)
8. Rental Assistance Demonstration (RAD)
B. Section 202/162 Project Assistance Contract (PAC)
C. Section 202 Project Rental Assistance Contract (PRAC)
D. Section 202 Senior Preservation Rental Assistance (SPRAC)
E. Section 811 Project Rental Assistance Contract
COVID-19 Supplemental Payments (CSF) Program (https://www.hud.gov/sites/dfiles/OCHCO/documents/2020-11hsgn.pdf)
Application (https://www.hud.gov/sites/dfiles/OCHCO/documents/52671-e.pdf)
Application Instructions and Tips (https://www.hud.gov/sites/dfiles/Housing/documents/Tips_for_Completing_HUD_Form%2052671-E-November_23_2020.pdf)
Post by: Shmulie on March 02, 2021, 10:35:32 AM
Does anyone here have experience investing in a real estate deal for an apartment complex ($15m+, 200+ units), where they offer a preferred return and then an equity split?
What is standard for the preferred return and equity split?
What are some of the things to look at to see if its a good deal?
What are the biggest risks with these types of investments?
I've heard conflicting things on the tax benefits of investing in this type of real estate, are there any?
Any other questions I should be asking?
Post by: jackofall on March 02, 2021, 11:17:19 AM
This is a long thread so I may have missed it if this was already discussed
Does anyone here have experience investing in a real estate deal for an apartment complex ($15m+, 200+ units), where they offer a preferred return and then an equity split?
What is standard for the preferred return and equity split?
What are some of the things to look at to see if its a good deal?
What are the biggest risks with these types of investments?
I've heard conflicting things on the tax benefits of investing in this type of real estate, are there any?
Any other questions I should be asking?
I work on the "other" side, the syndicator side so I can give you the "inside scoop."
First of all, the rule of thumb in real estate is that there are no rules. Simply because every parcel of real estate is unique. However, there are certain standards in each market and asset class. My experience is from a secondary/tertiary market, Class B- through A.
As far as how much syndicators take, many have become sophisticated over the years and set-up increased percentages based on stronger performance. On a simple level, I see a lot 7 or 8 percent pref and then a 70/30 split. Additionally look out for fees that are taken, on acquisition and on property management/asset management.
To see if something is a good deal is to evaluate the risk/return ratio and your appetitive for risk. There really is no short-cut here.
Typically these investments are very tax beneficial as even a good property, distributing funds will have a negative profit for tax purposes.
Post by: Shmulie on March 02, 2021, 11:38:05 AM
Additionally look out for fees that are taken, on acquisition and on property management/asset management.
so what is normal for the acquisition and property management fees?
To see if something is a good deal is to evaluate the risk/return ratio and your appetitive for risk. There really is no short-cut here.
What are some of the biggest risks with these types of investments
Typically these investments are very tax beneficial as even a good property, distributing funds will have a negative profit for tax purposes.So that is what I thought but then someone told me you can only deduct a loss (depreciation) if you are considered a "real estate professional"
Post by: jackofall on March 02, 2021, 01:07:33 PM
so what is normal for the acquisition and property management fees?on acq i see 2%+/-
What are some of the biggest risks with these types of investments
So that is what I thought but then someone told me you can only deduct a loss (depreciation) if you are considered a "real estate professional"
PM+asset fees should not be more than 5%
Biggest risk is you can loose your money ;)
Should ask a tax professional. But there might be limits of how much passive income losses you can use to offset regular income.
Post by: aygart on March 02, 2021, 01:11:30 PM
My understanding is that the difference between a RE Pro and not is whether it is called active or passive income.
So that is what I thought but then someone told me you can only deduct a loss (depreciation) if you are considered a "real estate professional"