All Forum Posts by: Albert Gallucci

good to know but I am aiming for B or A. You really cleared things up for me when you said class A,  3-5 years cashflow . I have been looking at properties and it seemed like the seller s  based their price on zero percent cash flow for the buyer. These props were in good areas so I am guessing that is why.

Thank you drew!, you have put me on the right track with very clear and concise observations to think about while evaluating my market. 

Thank you all who responded, I plan on spending some time driving the neighborhood and talking to anyone at the local coffee shop who will talk to me.  What should I be looking for? Quality and upkeep of the cars in the neighborhood, I though might be a good sign. For rent and for sale signs might be another. Any other suggestions for boots-on-the-ground observation would be greatly appreciated.

I am looking at a 4-family property that the selerl says is in a class B area. how can I confirm that?

where can I find the parameters of classes of properties?

thanks in advance for reading and or responding.

Congratulations, i have been looking for something similar in the same market for a year now but numbers did not seam to work. May I ask how you fond the property? Also is your rent covering just PITI or total expenses?

tried real estate investing many years ago, before the internet era. Miraculously, I didn’t lose my shirt, but I broke even on one house and, due to other circumstances, had to walk away from another. Fast forward 20 years: I now have money in the bank, excellent credit, live modestly on my own, and run a business that’s doing well.

Unfortunately, I wasn’t able to save much for retirement during most of my life. With that in mind, I’m considering purchasing four rental units over the next four years to build a stream of income that could help supplement my retirement by age 68.

The challenge I’m facing is that the deals I’ve come across so far don’t make financial sense. Even with 20% down, there’s little to no cash flow. Most properties seem to be overpriced, often listed by pro investors trying to unload them, and have been sitting on the market for six months or longer.

While I could put 50% down to make the cash flow work, that approach would likely derail my goal of acquiring four units in four years. At my age, I wonder if it’s too late to "get rich slow," as is the case with most real estate investing.

I’m curious: is there a section of this website or a community that focuses on late-start investors?

I tried RE Investing many years ago before the internet and miraculously did not loose my shirt but broke even on one house and due to other circumstances was forced to walk away from another. Its 20 years later I have money in the bank, great credit,  living alone very modestly, and a business that is doing well. Unfortunately I was not able to put much away for retirement most of my life so I was thinking about attempting to buy 4 rental units over the next 4 years with the hopes of building up something that could generate income in 5 to 7 years to supplement my retirement at 68. So far no deals I have found are even close to creating reasonable if any cash flow with 20% down. Most of the props that I see are pro investors looking to unload and they are priced for zero cash flow and have been on the market for 6 months or more. So I guess I am wondering if at my age its too late to get rich slow as is the case with most investing. I could put 50% down and make the cash flow work but that kind of kills the 4 units in 4 years idea. Is there any place on this website that that focuses on investors that got in the game late.

There is a real estate investment club called, what else, Eastern PA Real Estate Investors Club Lehigh Valley ( not Scranton) . YOu can find it on meet-up. I recently joined and found it extremely valuable. Most of the investors there have multiple properties and will freely share their experiences with you regarding local management companies. There was a management company that gave a presentation recently however I am not sure of their name. The next meeting is Thursday 3/14 

I just thought I would say hello. I joined this forum tonight and spent today at Pottstown Elementary doing an estimate to clean their air ducts come summer. I recently joined the Lehigh Valley Real Estate Investment Club and have not decided completely on my strategy yet. If you did come across a duplex with 20% down that could get close to free living with a tenant on one side and myself on the other I would be interested. It would need to be somewhere in the box between 33 22 476 and 80 but closer to Windgap/33 would be ideal. My next trip to Pottstown maybe we could grab a cup of coffee and talk RE 

Just finished my first read-through of Start with Strategy. 1st step is to define your core values. You think at 60 I would have done this by now ioi. Honestly, growing up in Brooklyn I was not sure if I wanted to know. Well, the book says there is a list of words on this website about that but I can't find it so I will throw it out there what do you consider your core values to be? I know a few of mine are Family, Health, and personal growth, but I am curious as to what others are thinking.