All Forum Posts by: Andrew Curro

If you were looking to buy a property two years from now, how/where would you store your savings? 

Cash, T-bills, Bitcoin ;), Blue Chip dividend paying stocks, ETFs etc.?

Thanks for your help!

Hello BP,

I work as a Surgical PA 4 days a week. I’m thinking that it may be useful to pick up a part time job/gig that is real estate related on my day/days off.

Any jobs/gigs that come to mind? I’m looking to buy my first buy and hold property in the next year or two and feel that getting some experience in the field may be helpful. Thanks!

Hi BP,

I'm a new investor in Albany, NY. Hoping to get some feedback on my strategy.

My plan is to save for one year (45K) to cover DP (5%), closing costs (12K), and emergency fund (6K); buy a fourplex in a class B neighborhood; rent and hold long-term. I am looking to owner occupy and therefore put down a 5% DP (allows $400K - $500K property comfortably).

I want the property to cashflow $12,000+ / year. This number was calculated using the following parameters:

1. All 4 units collect rent (as if I were NOT living there)

2. 5% down payment

3. 50% rule for expenses

The cashflow would then be combined with my W2 income that has been allocated to RE to help cover DP/closing costs/emergency on the next fourplex purchase a year later. Does this strategy make sense/do my numbers work in the capital region?

Hi BP,

What makes today a great time to buy real estate? 

What makes today a bad time to buy real estate?

In my opinion, what makes today a great time to buy is low interest rates and the ability to lock in a 30 yr. fixed rate mortgage in an environment where dollars continue to be devalued... But, I think what makes today a bad time to buy is housing prices adjusted for inflation are overpriced if you look at a historical trendline.

Let me know what you think!

What do you see as the major macro tailwinds and headwinds for purchasing residential small MF real estate under the current market conditions?

I’m under the impression that a major pro to buying today is being able to take out a 30 yr. fixed rate mortgage at such a low interest rate.

I’m also aware that the housing market is not “cheap” if you look at a historical real estate housing price chart that is inflation adjusted.

Why buy today???

This post was inspired by a response I received about how difficult it is to find properties that meet the 1-2% rule, and how although this may be the case, the deal is in the low interest rates today vs. low prices in the past.

Do you still use the 1% or 2% rule to evaluate investment properties? I will be looking for properties in capital region NY. Based on podcasts and zillow research, it seems that there are less properties that meet this rule nowadays. If you don't use these rules, what do you use as a quick and dirty screen for potential buys?

@Taylor L. I figured there might be some good loans surrounding my profession given the relatively high and stable income that the profession is known for. By deal do you mean terms of the loan?

Hi BP,

Any physician assistants out there have experience with private lending options? There seems to be quite a bit of doctor specific loans, but less so for PA's. Bankers Healthcare Group was the only potential option I found for a PA in NY, but I don't know anyone who has used them.

Andy

Thank you @Will Fraser. My goal is to bring in enough cashflow from my investment properties (around $50,000-$100,000) so that I go part time/per diem in my W2 job and dedicate the newly acquired time to starting a short term vacation rental business. Any thoughts?

Hi BP,

I'm thinking that my first property will be a 2-4 unit. But after I purchase this property, I'm going to have a decision to make. Do I take the time to save up for a medium sized multifamily apartment complex (20+ units) or do I continue to buy small MF 2-4 units? If you were starting out what would route would you choose given your own personal advantages? 

Andy