All Forum Posts by: Andrew Coen

@Mason Adelman

“Building Wealth One House At A Time” by John Schaub. Great book that keeps it simple.

Hey BP,

Im preparing for buying my second deal, waiting on approval for financing. The market I am in is over valued do to the low interest rates. I used to knock on doors for a home remodeling company for 4 years and enjoyed it alot. I would like to know if anyone has any advice or lines they have used when asking someone if they want to sell there house? Haha. Would love some advice from anyone who has experience. Thanks

Looking for recommendations for a Tax Accountant with experience in Real Estate in Rhode Island!

I am about to close on a house in Cranston RI next week. it is a 3 family and my lender mentioned to me that if it were fully occupied and I couldnt move in within 30 of the closing date (or something similar to that) than I wouldn't qualify for the loan. luckily one of the units was vacant. I would check with a lender to make sure, could be my lender that required that.

Thanks Daniel, much appreciated!

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Hey everyone. I just purchased my first investment property and it has old steam heat. the boiler is getting old even though it could get through a winter but I would like to upgrade the heating and cooling system. Looking for advice from anyone who's willing to help. Duct work? Ductless?

Im wondering if an LLC can qualify for an FHA loan. I have a 401k account from my previous employer which I need to roll over to something. I recently discovered from the Bigger Pockets Podcast that I can use those funds for real estate through a self directing IRA account. From my understanding I need to set up an LLC, and a new Roth IRA account, which I can transfer the funds to my LLC when received. I have read that LLC's can be approved for an FHA but would like to hear what the real estate community has to say about this. Does anyone have any experience or advice that I can use?

Happy New Year!

@Jonathan Bombaci Thank you for the boost of confidence! I just contacted a lender to get pre-approved yesterday so I'm glad you mentioned that, now it makes me feel like I got the right idea. And you are right I guess I didn't think about actually knocking on doors again and trying to find the landlords/owners to meet them; I certainly will talk to the homeowners on job sites from now on those are fantastic ideas.

@Anthony Thompson I apologize for being vague with the question regarding advice on 2-4 units, but honestly you answered it so well and made it simple for me to understand so thank you! I certainly won't forget "the more units you buy, the better price you’ll get per unit". Also I really appreciate the two Investor groups, I am going to make time to attend asap.

@Stephen Roesler Likewise! I agree, the Boston area is difficult for me as well since I don't have a lot of capital. I am trying to better understand ways of using other investors money, but I would like to use my own for the first deal so that in case anything were to go wrong I don't have that hanging over my head and then I can move along being more prepared in future deals. 

I chose Providence because of the fact Boston is so pricey. I have been doing a lot of research about the market and noticed that the rent population is about 40% renters. Even though there isn't too much industry in Providence itself, its an easy commute to Boston either driving or taking the commuter rail (which they are going to be adding more lines in the near future). I have also read that there are two international airlines contracted to start flying out of TF Green airport which is located near by. Because of the many colleges in a small circumference, I've noticed that the rents are fairly high for 2-3 bedrooms ($1,000-$1,700 mostly depending on area) and costs of homes are low. One last things is that they are developing the city by the water and multiple large named companies are moving there creating jobs. I am a new investor with no deals either, but it seems to me that it wouldn't be a bad idea to take a look into!

Hey Everyone,

New to real estate and can’t wait to do get my first deal done.

I am turning 29 this month and I feel like I am starting late, but couldn’t be more grateful for finding bigger pockets podcast because I have learned so much the last few months!

I’ve knocked on hundreds of thousands of doors all over the country and became one of the top Customer development leaders in the department and have mentored hundreds of people about knocking on doors for 4 years. Thanks to all the adversity I ran into, I started personally developing myself by reading all kinds of books on how to talk to people. Eventually leading my into others like “Think and Grow Rich”, and then ultimately into financial education. I am so grateful I had because they eventually led me to read ”Rich Dad Poor Dad” ! Since August of 2019, all I think about is Real Estate (my wife thinks I’m crazy haha). Getting out of my comfort zone once again and would like to network with people here so I can continue my education!

Currently working as a contractor in Boston Ma with my brother to help grow his company and gain knowledge with hands on experience on estimating costs and we both would like to start a property management company eventually.

Going to house-hack my first investment, looking for 2-4 Unit Multi-Family homes to BRRRR in Providence RI so if anybody has any advice I would greatly appreciate it!

I love Bigger Pockets! 🙌🏼