All Forum Posts by: Alex Horelick

hey guys I am new to real estate and I just got my first rental property this past year and have tenants and things are finally stable now. I was wondering how people managed to scale their businesses faster. I make a decent amount of money nearly from my W-2 (over 100k) but still not enough to easily buy another property this year especially if I have to put down 20%. I was debating if I should partner with a friend or family member who is willing to work on a property together. ill be sure to make sure things are done legally and fairly so no one get short sighted and things don't get messy. I was wondering how other people managed to start scaling their business faster. did you guys work with partners or do any deals? I am open to any past stories, recommendations or advice? my goal is to at least be able to buy one property a year. 

HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more. If I refi cash out I can probably only get about $50k out of the investment property, any ideas on another way to get the amount I need that I may not be thinking of? I was thinking a bridge loan might be an option , and then refi it later and pay back the bridge loan,  but I'm waiting for lenders to reach back out and run some numbers. Any other options you guys may suggest if you've been in a similar situation I'd love to hear it ? 

Hello all I'm currently hacking my house that has an ADU dwelling that generates income, I bought this property intending to leave and rent the house that I currently reside in (2 bed 1 bath) I currently have a very good interest rate locked in here from 2022 that I don't want to lose or have my mortgage called due from leaving here, I live here for very cheap with the income from the ADU. I'm getting ready to make my next move in 2025 and I'm contemplating on staying here and buying a multi family property as an investment out of state (only an hour away) which would be a lot less capital and have a lot more land lord friendly laws or buy another multifamily as a primary residence locally and hack that property I'm single and live alone. What are the pros and cons of each situation?

Hello investors,

I hope this message finds you well. I am writing to seek your input on a potential real estate investment opportunity. Currently, I am living in Westchester, NY and renting a property. As you may know, renting in New York can be quite expensive.

I have been diligently saving up money to purchase my first investment property and was considering the possibility of buying a co-op unit. Rather than using it as an investment property, I would live in the co-op while still living in NY, allowing me to save money on rent. Then, when I decide to leave NY, I could sell the co-op and use the money saved from not paying rent as a down payment on a new investment property.

I would love to hear your thoughts on this strategy and any suggestions or advice you may have on this matter.

Thank you in advance for your time and help!

Best Regards

Antonio Chelala

New investor excellent income and credit score looking to work with an experienced dedicated real estate agent. Looking for a multi-unit home to live and rent out. Thanks.

I'm looking to put down 10% in order to provide the option to refinance out of PMI and live in one of the units for the first year. Would love to be in the Mamaroneck/Larchmont area. Any success? Or am I dreaming with this location?

Hey Alex, 

I really appreciate your insight on this. Any specific towns or areas that come to mind? Or areas that you see growth potential?