All Forum Posts by: Alejandro Obando

New Investor, trying to figure out what strategy I could utilize for my very first investment. My goal is to invest in a property that will generate roughly $300/ month in cash flow within the first year. currently saving capital for when I do make the first purchase, I am about 5K away from hitting the 3.5% down on an FHA property in NYC, Since I live in a very expensive market (NYC) it is challenging finding a property that will generate any cash flow at all.

I've been researching, reading and networking for the past 6 months 

Using sites such as "Redfin, Zillow, Trulia, Craigslist, Etc. to find properties and using the BP calculator to analyze properties, 

(goal is to analyze 100 properties by the end of the first quarter in order to truly understand how to analyze properties and cashflow).

I have no experience with OOS investing but I do see the much lower entry point with investing OOS. still not sure whether OOS investing is the right strategy since I will be relying on other people's actions/ commitment to managing the property.   

Any insight on other markets to look into or other strategies to use will be greatly appreciated. 

Thank You 

Alejandro Obando 

I am new to Real Estate investing, eager to absorb as much information, in order to become a skilled investor. Halfway through the book, and there is plenty of valuable information to take action on, especially on building the three circles of your work network. 

Any other RE investing book/magazines/podcast/ events that have helped you grow to a successful real estate investor.

Thank you for your value and knowledge. 

thanks for the help and clarification. 

@Richie Thomas

I am not looking to be a professional property manager, I'm am electrician by trade looking to leverage my knowledge into real estate, and enjoy the "mailbox money".

Since this will be my first purchase I am looking to utilize the FHA program with a 3.5% down. Also looking to manage the property myself.

When you refer to the closing cost would that be 5%-6% of total purchase price? I will be needing a realtor for the purchase.

For the rental income assumption I will be living in one of the units, from your experience should I also include the rental from the unit I will be living in or don't include the rents for future analysis.

Thank you for the help and knowledge, will definitely be putting "The E-myth Revisited" on my bookshelf this quarter.

Best

Alejandro Obando

View report

*This link comes directly from our calculators, based on information input by the member who posted.

I'm new to Real Estate Investing based in NYC, I have analyzed 6 properties using the rental property calculator since becoming a pro member,

Goal is to analyze 100 properties by the end of the first quarter.

Is there a formula or method to find the ARV when analyzing triplex or fourplex properties.

Any other insight or advice would be much appreciated.

Thank you