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Updated about 11 years ago on . Most recent reply
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A new face to be introduced, NYC
Greeting everyone,
I'm Andre, a person who from a very young age been attracted to the adventure of real estate investing. Although my career has been based in the health care industry for the past 10 years I finally took that first step into the circle by purchasing my first multi-family four year ago. I'm based in NYC that makes it very difficulty for someone without experience and capital. From hind site I have seen the mistakes I made which has been costing me and I hope by coming to this community I can skip some steps in avoiding some error and be a lot more efficient in the service I am providing as a landlord.
More importantly my goal is to expand to more multi-families and have a snow ball effect of not headaches but experience and expertise in our profession.
I am sure someone wore similar shoes as I do and I would greatly appreciate your story of the light at the end of the tunnel. I am very approachable so look forward to hearing from you.
Most Popular Reply
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Welcome to BP @Andre Snaggs ! Always good to see another member from the Tri State area. There's opportunity here so don't fret. Having barriers to entry makes it worthwhile or else everyone would do it and you wouldn't get a decent return on your money. Even though you don't have experience it'll happen over time. Everyone here has been in your shoes. I wish I had a community like this to reach out to when I started many years ago. Utilize BP for all its worth. Its priceless in my book!
I started out purchasing a duplex and living in one side. From there I was able to build up. Its a sound approach to starting out and it works. Find a duplex that needs work. Fix up the tenant side first and live in the other that way you can get higher rent on the other side while you're fixing up yours. After you're done with your side, start looking for the next one. Anything I can do feel free to reach out to me!
Don't forget to read the Beginner's Guide they have here. Its great!