Good morning! This week we are taking a break from talking about the Philadelphia venture and switching it back to Binghamton. Over the past few months we have been posting about a deal we had been working on out there where we were executing a cash out refi on one home, and putting two other properties under a blanket loan. […]
Good morning! Last week we talked about how we bought our first FLIP! As we prepare to close, and get started on the house, I am working on making sure our insurance policies are all lined up. Two policies we are looking to obtain are a (1) Builder’s Risk Policy, and a (2) General Liability Policy. So, as we do, let’s talk […]
Good morning! I HAVE BIG NEWS. Last week was kind of crazy (for me) – I signed a contract to purchase my first flip – sight unseen. So, as we do, let’s talk Real Estate, let’s talk PURCHASING A PROPERTY- SIGHT UNSEEN… GIVE ME SOME BACKGROUND Over the past 3 months I have been looking everywhere (around Philadelphia) for a […]
Good morning! Last week we talked commitment letters– this week let’s chat about THE COMMERCIAL LOAN BEHIND IT. As you all are probably aware of by now, we have been working to acquire properties out in the Greater Binghamton Area for quite some time. And while we STILL HAVE NOT CLOSED ON THEM (trust me SO many lessons learned to […]
Good morning! LET’S TALK REAL LIFE STUFF AGAIN TODAY. Last week we signed a commitment letter for a commercial loan that will cover the acquisition of three properties. Now, this is MY first commercial loan, actually honestly really any loan, I have ever applied for. So, after we signed the commitment letter I really had no idea what to expect. […]
Good morning! Today I want to share with you a recent experience I went through and how it taught me the importance of truly tracking “wealth”. A few weeks back we applied for a commercial loan, which required lots and lots of documentation, however one document in particular stood out to me… my personal financial statement. While this exercise felt […]
Good morning! True life : I want to FLIP a house. We have spent the majority of the last 6 months working to acquire rental properties. I am not going to lie it has taken WAY longer and has been more discouraging than I had ever anticipated and I am itching to try and take on a new project. I […]
Good morning! Taking a break from “real world real estate investor problems” and doing a market deep dive this week. For the past 6 months I have really pushed you all on the Greater Binghamton area. Well, the day has come where we have decided its officially time to expand our investing horizons! Last week we took a trip down […]
Good morning! Today I want to get your opinion on something… hard money lending. The issue for us is not whether or not we can find deals (although actually getting offers placed and accepted in time has been a whole separate challenge), instead what I am constantly worrying about is how we are going to continue to fund these […]
Good morning! Alright guys, let’s talk about real world investor problems #4: how can I make sure that I continue to qualify for investment property mortgage loans? There is no doubt that there are SO MANY good properties out there to invest in, however the financing is never easy. Fannie Mae allows a max of 10 investment loans per person, […]