Newbie- verge of analysis paralysis for Rochester NY Multifamily

[Scott Long]

Hello all,

My buddy introduced me to the Bigger Pockets podcasts about a year ago. I am not one to put myself out there without all the facts so I have held back from posting and communicating on BP, despite every podcast telling me to do so. A year later and 175+ podcasts, Ultimate beginners guide, Automatic Millionaire homeowner, Rich Dad Poor Dad, The millionaire real estate investor, The book on managing rental properties, Tax strategies for the savvy real estate investor, analyzing properties, multiple webinars, reached out to an agent, accountant, attorney, and friends parent who has some experience in the market, I am finally reaching out.

My wife of 9 months and I live just outside of DC in Alexandria Virginia in a townhouse we purchased 2 ½ years ago. I have been down here for 10 years now working as a survey analyst. Rather than buy in our backyard I think it would be better to start in the city I was raised, Rochester NY. Point of entry is much cheaper and would work better for our strategy of buy and hold in the South Wedge, Highland Park, Cobbs Hill, Park Ave areas. I still have family and friends there so will have boots on the ground.

Current strategy is to form an LLC, hopefully pay all cash for a duplex that needs some work but not a ton (loosely defined I know), refinance when things get settled, buy a 2nd duplex the following year when we have the funds again for an all cash purchase and repeat the process.

While I have reached out to an agent, accountant and attorney in Rochester none of them have the real estate investor and out of state client experience that we are looking for and was recommended. If anyone has any recommendations for any of these in the Rochester area I would appreciate it.

Feel free to introduce yourself and any agent, accountant, attorney recommendations or feedback on the strategy would be helpful. While I can’t offer much real estate advice at this time, if anyone has questions regarding selling on Ebay I can offer some advice or help. I currently have a side hustle finding items on Ebay for below market value and then reselling them.

Thanks for reading,

Scott

[Jerryll Noorden]

The best way to do any strategy what-so-ever, is to pretend you are a wholesaler. When you are a master at it, you will have the skills to get properties at a ridiculous price.

From there, do whatever you want, BRRRRRRRRRRRRRR , flip, buy and hold.. what ever.

People do not realize it and don't bother with acquiring these skills because "I don't want o wholesale". Good their loss.

I bought a house for 5K, last year! 5K!!

Hone all the skills that are important and you will be a kick butt investor!