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Updated 3 months ago on . Most recent reply

User Stats

59
Posts
35
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Frankie Paterno
  • Staten Island, NY
35
Votes |
59
Posts

Scale rentals or Build

Frankie Paterno
  • Staten Island, NY
Posted

Hello BP community! I got about 1.2M sitting and would really like to put it to work, I only own 1 SFR in Staten Island. My general idea? Im currently networking to partner up with a home builder here in Staten Island and build Semis on empty land. Im really interested in buying some cashflowing rentals in Ohio, Indiana, Arkansas, maybe the Carolinas. Id generally like to buy and refinance 6 months to 1 year down the line and scale up bigger rentals.
Id appreciate any and all comments as much backfeed as I can get. If youd like to network send me a DM ! 

Most Popular Reply

User Stats

5,165
Posts
4,140
Votes
Nicholas L.
#3 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
4,140
Votes |
5,165
Posts
Nicholas L.
#3 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
Replied

@Frankie Paterno

...really?  1.2M sitting?  

getting cash flowing rentals in those states is certainly possible, but much, much more difficult than advertised.  the cash flow really comes after 10 or so years of ownership.  so if you're impatient and just buy something random it's not going to work and you'll just set yourself back.

  • Nicholas L.
  • Loading replies...