All Forum Posts by: Ali Syed

@Trevor Ewen

Trevor! Thank you for the warm welcome! I appreciate your analysis and advice. I feel like your post has confirmed a lot of my existing thoughts on investing in NY, although one could argue that commercial real estate can change that opinion, entirely. But in regards to rental properties or flip opportunities, I will be looking outside of NY. I do enjoy your formula, and will give it a go when assessing what areas I should be shopping around in. I'd love to connect further and pick your brain!

Ali

@Account Closed DM'd!

@Stephanie Jacobson DM'd!

@Basit Siddiqi Durham is very attractive to me, considering the startup I'm with has a second headquarters (or did - pre-covid) in Durham. Great University town as well. Would love to get a multi in downtown that I can rent out to students.

@Louise Cornell Louise!! Yes! I love it! I appreciate the insight! I'll have to follow up with you to get some ideas!

@Scott Wolf, Scott! Thank you for jumping in! While house hacking sounds great, I don't think my situation needs it. I am currently happy living at my parents home for the foreseeable future, so i'm not concerned with where I will need to live. Regardless, I appreciate your advice and think it's super valuable. Maybe I should consider using an FHA loan and pay a small downpayment on a home regardless outside of NY. Do you see any disadvantages of me purchasing a rental property in Florida while living in NY? I have the ability to travel if needed.

Also, while a pay increase sounds super nice, I think that my company might adjust my salary if I "moved" to Florida, so there's that. But worth a shot and i'll keep it in mind!

Would love to get your perspective on what strategy or venture I should consider pursuing first btw. Considering I can afford a higher risk, should I be focussing on finding foreclosures or homes that need work, get a loan to fix them, and then flip? Or stick to a passive rental property as my first unit?

@Anna Swartz-Lopez Thank you for the warm welcome! I couldn't agree more - as an entrepreneur in the tech startup space, the one thing i've learnt over the years is that any idea can be a great idea, however, it takes a solid team to execute successfully! 

In regards to learning, I'm half way through "The Book on Rental Property Investing" by Brandon Turner, and eager to start both "The Book on Managing Rental Properties" and "Buy, Rehab, Rent, Refinance, Repeat"! In my spare time, I find myself listening to podcasts such as BiggerPockets and Landlording for Life Real Estate or surfing through this forums and trying to connect to as many individuals as possible (if you have more suggestions, would love to take you up on them). 

Regarding what strategy i'd like to make mine, i'm trying my best to remain open at first, and really familiarize myself with the discovery process. As mentioned, I am at place in life where I can afford higher mitigated risks, which is why I find myself leaning towards "Fix and Flip" as my entry to this realm. I find the difficulty is in learning how to identify what is a deal and what is not (but that's where the learning comes in). For a "fix and flip" I wouldn't mind staying in my backyard (aka ny), however for a more passive rental approach, i'd rather be out of state where I can maximize my investments.

Would love to chat further!

Hello BiggerPocketers!

My name is Ali Syed - Kazmi is my nickname! I'm a 30 year young New Yorker, currently living in Long Island, NY (specifically, Suffolk County). I've made a career for myself in the Software Engineering world as a Site Reliability Engineer - I manage and automate infrastructure that hosts software and create automated systems and processes for software delivery in a fast, efficient and most importantly secure fashion! While i'm not working, I enjoy reading, biking, hiking, playing rugby, auto racing and much more. 

I am very excited to join this community and look forward to building some incredible connections and learn as much as possible! Again, I am in the Long Island, NY area and would love to meet up for lunch or coffee! My treat! :)

Kazmi

Hello BiggerPocketers!

My name is Ali Syed - Kazmi is my nickname! I'm a 30 year young New Yorker, currently living in Long Island, NY (specifically, Suffolk County). I've made a career for myself in the Software Engineering world as a Site Reliability Engineer - I manage and automate infrastructure that hosts software and create automated systems and processes for software delivery in a fast, efficient and most importantly secure fashion! While i'm not working, I enjoy reading, biking, hiking, playing rugby, auto racing and much more. 

I am very excited to join this community and look forward to building some incredible connections and learn as much as possible! Again, I am in the Long Island, NY area and would love to meet up for lunch or coffee! My treat! :)

Kazmi

I am 30, single and currently live in long island, NY. I'm currently in a very forgiving circumstance, where I am living for free at my family's home. I've saved a good amount of money this past year and due to covid, I am working remotely, indefinitely. SO I do have a fair amount of flexibility now more than ever before and with that i'd like to take advantage of my current situation. 

I'm new to a lot of the real estate world (recently purchased Brandon Turner's book - love it!); I have yet to establish a real estate investment strategy that works perfectly for me. While I am studying and reading, I don't want to run into "analysis paralysis", and believe in learning as I go. The reason I'm posting here, I'd love to get any advice from this incredible community on where I can begin (would love to meet for coffee or over a zoom call to network with ya!). 

Essentially, considering my situation, should I be looking for a "buy and hold" multi tenant home in my backyard (long island, the boroughs, jersey) or should I consider out of state investments (i've been surveying Philly, Durham, Raleigh). I could house hack, but again, I really don't mind taking advantage of living at my family's home for free for the time being and renting out every unit in the first home that I find. 

Very intrigued to read responses and experiences anyone else may have gone through!

Cheers