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Updated about 9 years ago,

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8,084
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Basit Siddiqi
Tax & Financial Services
Pro Member
#3 Buying & Selling Real Estate Contributor
  • Accountant
  • New York, NY
3,627
Votes |
8,084
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Hello everyone! I am new to BP

Basit Siddiqi
Tax & Financial Services
Pro Member
#3 Buying & Selling Real Estate Contributor
  • Accountant
  • New York, NY
Posted

Hello everyone!

I have been a BP lurker and I just decided to sign up!

A little-bit about myself.

I am a tax accountant at a public accounting firm specializing in real estate/private equity.

I feel like I can become a good real estate investor.
I am detail oriented and extremely analytical.

While i have no experience with real estate investing per se, i also feel like i understand the industry immensely. 

I live in the New York Area. I find that this area is extremely hard to start real estate investing because everyone is so damn expensive here! 

I work 9-5 Monday-Fridays during my non-busy months. Therefore, I was looking to join a new york Real estate investing group that meets at night or during the weekend.

I am a type of person that asks A TON of questions.
I understand that this is just an introduction...but these are questions i am dying to know and research once i am done with this post

1) is no-money down investing real? what bank in their right mind would want to do this?
if it is real, what type of credit do you need and what is the interest rate like?

2) I am a person who tries to diversify as much as possible...I would rather have a 10% interest in 10 different properties valued at $10,000 each(total of $100,000) than to have a 100% interest in 1 property valued at $100,000.
With that being said, have BP members grouped together to do deals together?
with safety being a concern, what are some things i should out for to make sure i am not being scammed.

3)what is everyone's credentials when looking for a tenant?
above 700 credit score? 650 credit score? income 40x rent? income 50x rent?

thanks,

I hope to learn as much as possible,

Basit

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Basit Siddiqi CPA
4.9 stars
72 Reviews

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