All Forum Posts by: Andy Iannotti

Thanks guys! Yeah being a C/D landlord is definitely not the direction I am steering this ship. For me this is going to be a business and run as such, with my family’s name on it. But as you said, the less headaches I can give myself the better. All the people I have talked to said it’s much better to have great tenants than a few hundred extra a month.

I have heard that in real estate “insider information “ is not only acceptable, but encouraged. I am a firefighter and do inspections on multi family dwellings. Therefore I get a real inside look at what is really going on with these houses, sometimes when people aren’t ready for it. I also have owner information, inspection, and permit history at my fingertips. Would using my career to contact these people off duty be unethical? I guess it’s a better question for my chief, just thought I’d like to hear what you guys have to say.

Also I would consider section 8 for the 4 unit in the less desirable neighborhood to ensure filling vacancy and a rent check. Is there anything that protects the landlord in this program? I get that the clientele most likely won’t treat the property as I would. What is done if the tenant doesn’t pay their share? Do they help with eviction process? Located in NY.

I am starting my journey, getting my education and analyzing deals. As someone new to the game I am looking for pros and cons of larger and smaller multi family houses to buy and rent. My numbers are showing a huge advantage to buying 3 and 4 unit houses. A 4 plex in my area can be had for around 100,000(asking) and duplexes for around 60-80(asking). My cash on cash ROI for the 4 blows the 2 out of the water. But the 2’s tend to be in a little better areas. What should I look out for when comparing them? Should I go for the 2 as I am just starting out? Feel free to rant with any other advice anyone has. Thanks everyone!

Thanks guys

Hey everyone, my name is Andy Iannotti.  As the subject line says I’m from the small city of Amsterdam, which is about a half hour west of Albany.  I am a full time firefighter and part time paramedic currently.  The only real estate experience I have is purchasing the house my family currently lives in.  Found this site, along with the books through a google search.  I am very interested in real estate investing mainly because working 96 hours a week to live paycheck to paycheck as a civil servant is wearing me thin, physically and mentally.  My goals are to make extra monthly cash flow so I can quit my side job and have more time with my family, while also living more comfortably.  Setting my kids up for a great start on their fiture is definitely a priority.  Also I have a great start on retirement through my pension, and a healthy portion of my check going to other investments, so the diversity of my portfolio is very attractive. I believe real estate is perfect for me due to the fact I am fairly handy, good with money and have a great schedule (24 hours on, 72 hours off).  I believe the route I am going to take is small multi family homes, my market seems to be good for this (fairly low house costs, moderate rent prices).  Sorry for the long post but I’m really excited and optimistic about this new path in life! Can’t wait to talk with, try to help, and pick the brains of much more experienced members.  Any help and advice will be greatly appreciated.