All Forum Posts by: Alex Romano

Thanks for the invite @Jaclyn P.!  I look forward to meeting you all!

@Michael Doherty and @Justin Kane I didn't think to start with the fourplex!  That's a good point.  @Michael Doherty we are open to investing in other parts of the state and also in Rhode Island, how about yourself? And thank you, we will definitely check out the REI group in Southeastern CT.

Thanks for breaking this down for me.  I appreciate the advice and insight.  You're right, I really just need to get started and gain experience.  I've been hesitant because prices seem to be too high here right now, but I'm sure there are deals to be found! We own the home we live in so I likely won't be living in the rental property.  It does seem like it will take a significant amount of time to save enough rental income to put a down payment on our next home, but I suppose either way, it's better than letting our money sit in a savings account!  

Thank you again!

Thank you  @Brett Read!  I appreciate the tips - very helpful!

I have watched a number of webinars recommending rental properties investment but I feel like I'm missing something..

Say I want to invest in a duplex for $200,000.  I use $40,000 (20%) from my savings as a down payment.  Ideally, the rooms are rented and I earn $200-$400/month in profit on this duplex.  The goal is to then invest in a fourplex (I'll estimate that the fourplex costs $400,000.)  Assuming that I don't have $80,000 for a down payment, do I purchase this next property with a down payment that's less than 20%  Is the best option to find an investor who is willing to work with me?  If that's the case, what do these arrangements/agreements typically look like? 

This is all new to me and I understand this is likely an amateur question.  If someone could please at least point me in the right direction towards a helpful resource even, I would appreciate it!

Thank you!