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All Forum Posts by: Marc S.

Marc S. has started 42 posts and replied 111 times.

Post: Portfolio Loan possible?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35
Quote from @Brittany Minocchi:

It sounds like you're using the term portfolio to mean a loan a bank retains, not as in financing multiple properties under one loan...is that correct? Have you already been quoted a rate you're not happy with? You may not need a portfolio loan to get a more competitive rate. Happy to take a look at your numbers and discuss if you'd like to connect. 


 Thank you Brittany.  Are you available to speak this week?

Post: Portfolio Loan possible?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

Hello,

I am currently in the process of putting an offer in on a SFR in Celina, TX. Are there any banks out there I can get a portfolio loan on to negotiate a better rate than going through a bank using Fanny / Freddy?

Post: Possible portfolio loan?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

Hello,

I am currently in the process of putting an offer in on a SFR in Celina, TX. Are there any banks out there I can get a portfolio loan on to negotiate a better rate than going through a bank using Fanny / Freddy?

Post: Am I taking the easy way out?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35
Quote from @Nathan Gesner:

Stop over-thinking. 

How did people invest 20 years ago or 75 years ago, before all the books, YouTube gurus, BiggerPockets, cashflow calculators, etc?

The saved up money. They bought a nice house in a nice neighborhood that rented for more than the monthly mortgage payment. They learned how to maintain the home, manage Tenants, saved up any extra for emergencies, and held on for the long haul. 30 years later, the property was paid for, they earned tens of thousands in cash flow, and they had hundreds of thousands in equity.

It's that simple. Buy a property that you can rent for more than the monthly expenses. Save any leftover income each month to build a reserve so you never have to invest your own money into that property again. Rinse and repeat. Buy one house a year and in less than 30 years you will have really enough cashflow to live off of and a net worth that puts you in the top 1% of all Americans.


 You've basically given me my medication for analysis paralysis! lol 

Post: Easy way out?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

Investors,

So over the past 6-8 months I have dedicated myself to trying to become a knowledgeable investor. Reading books, listening to podcasts, talking to other RE investors, etc. And of course, one of the things I learned is that you never learn it all and that a certain quote really hit home, "The best time to invest was 6 months ago, the second-best time to invest is now". So, with that being said I decided to invest my time in an area of RE investing that I seem to be attracted to and that was MF. I researched markets, found great sites to do analysis and comparisons on etc.


My issue came down to the fact that I currently have a full time W2, that I actually love and enjoy and the purpose to my RE adventure was to start securing additional income for my wife and hopefully family one day as well as supplement my income. Even though I get paid very well (not to brag) but to show that this income isn't needed to the point where we would rely on it to live. I unfortunately work long hours, sometimes 6-7 days a week and was noticing I wasn't table to dedicate the time and hours needed to really do this properly, because I don't want to half *** it.


I started to then look into companies like Rent to Retirment and Roofstock. I guess I'm ultimately on here to get some advice and opinion on if I'm taking the easy way out and not truly investing from start to finish on my own. I know everyone has their own opinions on what's best for them and what some people think of sites such as those vs doing everything yourself. The work doesn't scare me, it's the time that I feel like that I need to do that will work against me.


No better site filled with experienced and new investors like this one, so I'd love to hear what others think. Am I taking the easy way out by going through a site or should I still try to dedicate myself and do my own research, find my own properties and invest head on.


Thanks for everyone's opinions!

Marc S.

NYC

Post: Am I taking the easy way out?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

First time investors, 

So over the past 6-8 months I have dedicated myself to trying to become a knowledgeable investor.  Reading books, listening to podcasts, talking to other RE investors, etc.  And of course, one of the things I learned is that you never learn it all and that a certain quote really hit home, "The best time to invest was 6 months ago, the second-best time to invest is now".  So, with that being said I decided to invest my time in an area of RE investing that I seem to be attracted to and that was MF.  I researched markets, found great sites to do analysis and comparisons on etc.  


My issue came down to the fact that I currently have a full time W2, that I actually love and enjoy and the purpose to my RE adventure was to start securing additional income for my wife and hopefully family one day as well as supplement my income.  Even though I get paid very well (not to brag) but to show that this income isn't needed to the point where we would rely on it to live.  I unfortunately work long hours, sometimes 6-7 days a week and was noticing I wasn't table to dedicate the time and hours needed to really do this properly, because I don't want to half *** it.  


I started to then look into companies like Rent to Retirment and Roofstock.  I guess I'm ultimately on here to get some advice and opinion on if I'm taking the easy way out and not truly investing from start to finish on my own.  I know everyone has their own opinions on what's best for them and what some people think of sites such as those vs doing everything yourself. The work doesn't scare me, it's the time that I feel like that I need to do that will work against me.  


No better site filled with experienced and new investors like this one, so I'd love to hear what others think.  Am I taking the easy way out by going through a site or should I still try to dedicate myself and do my own research, find my own properties and invest head on. 


Thanks for everyone's opinions! 

Marc S.

NYC

Post: Has anyone worked with Homeroom before?

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35
Quote from @Daniel Slayton:
Quote from @Gregory Dunton:

@Daniel Slayton - did you end up moving forward?


 I did not. 


 Can you let me know why you decided not to? 

thanks! 

Post: Texas Investment LTR

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35
Quote from @Travis Biziorek:

Hey Cynthia, are you married to Texas?

I'm also located in CA (Central Coast) and have 12-doors in Detroit. With $75k you could get a solid single family home, all cash, that rents for probably $1,100/mo.

Monthly costs on property taxes and insurance would be about $120 and $60 respectively (if not less). 

Happy to help if that's something that sounds like it may make more sense. And if folks don't think they can get appreciation in Detroit it's because they don't know all the positive things happening in the city. 

Since my buys in 2019-2021 I've seen my property values go up 2-3x.

So the crime rate isn't driving down property values? 

Post: Investment Feedback on a future possible property

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

Afternoon BP Community,

I was wondering if anyone on this site has any insight, experience, and/or opinion on an area of MF's I am looking to invest in, League City, TX.  I have done some of my own research but would love to hear from someone who's got boots on the ground and has invested in the area.  

I am looking to be an OOS investor and want to make some contacts in the area if anyone on this site has knowledge of the city and its future.  

The research I've done so far is on population growth, unemployment rate, and rental growth over the past couple of years.  

Thanks, and looking forward to hearing back from experienced investors! 

Marc

Post: Cities for multi-family

Marc S.Posted
  • New to Real Estate
  • New York
  • Posts 119
  • Votes 35

@Garrett Crosby. That sounds great Garrett. I would definitely love the opportunity to talk to someone with a great reference.