All Forum Posts by: Anthony DiBenedetto

@Stephen Keighery

Thanks for the announcement, Stephen. Where can we find more information regarding location and date?

Anthony

Hello BP Community,

I am interested in purchasing a condo at the Laketown Wharf and was looking to get some general info on the area/condo itself. This would be my first investment, and I live in New Orleans, so it would be a long-distance venture. My goal here would be to use it purely as a STR, with my family using it periodically throughout the year whenever it's not rented. In terms of financing, I wouldn't be interested in the 20% down route. I've seen some offers for 10% down with excellent credit, which I have, so I would prefer to explore that option. Looking in the $250K and below range.

Regarding Laketown itself, I've heard there was some HOA issues. What were they, and have they been resolved? Is it an investor-friendly HOA/resort? Does anyone here own within Laketown and have experiences they'd be willing to share? Are there better options within PCB (or surrounding areas) that offer similar prices with comparable amenities?

Really appreciate any insights anyone may have.

Anthony DiBenedetto

@Bonnie Low

Hey, Bonnie! Thanks a lot for the response and personal anecdote. HH isn’t an option for me simply because it would involve a mini uprooting of my family. My wife and I have worked hard and have gotten to a point where we make good money and are able to provide our children with a good childhood. Knowing that there are a plethora of options for getting into RE, I’ve decided to take the route that has the least direct impact on my family. The sacrifice that I’m willing to make, and have made for years and will continue to make, is to dedicate my discretionary/free time spent productively which has the potential to increase the quality of life for my family. Thanks, again for your response, Bonnie!

Anthony

@Jonah Kolsrud

Hey, Jonah. Thanks for the response, and I agree with you totally. I have a compilation of around 10 real estate books that I’ve devoured, and recently decided to hold myself accountable by 1) becoming a Pro member and leveraging this site and 2) journaling/documenting at least once a week around how I’m working towards my RE goals. Thanks, again, and best of luck to you, Jonah!

Anthony

@Alexandre Marques dos Santos

Thanks, Alexandre. Your words definitely do not discourage me, and I appreciate all advice. I've been self-educating for over a year or so, so I generally understand how arduous the process will be. Thankfully, I have excellent credit, strong income and low DTI. It's just a matter of taking that big step forward in the face of a lot of uncertainty and inexperience. Nonetheless, it's still very exciting to be at the starting point of a new journey.

Anthony

@Ben Scott

This is great, Ben thanks. I think this thought process makes a lot of sense. I’ve suggested owner-financing to a number of on-market deals with no success, but I’m thinking that targeting off-market properties may be the better route here, especially given my capital constraints. Thanks again, Ben.

Anthony

@Alexandre Marques dos Santos

Thank you for the thoughtful response, Alexandre. The plan is to continue focusing heavily on education while building both my network and funds.

Anthony

@Marlen Weber

Marlen, thanks so much for the response and encouragement. I really appreciate it.

Anthony

Hey all - my name is Anthony DiBenedetto, and I wanted to introduce myself to everyone and also ask for any advice from those who were at one point in time in the very spot I am now.

I live in the New Orleans area, and I am a completely new “investor.” I have 0 direct RE experience, although I was an underwriter at a large commercial bank with a few RE-focused clients. My goal (as of now) is to start small and scale up over time to mid-size multi-family and apartments, ideally targeting value-add properties.

My issue is, of course, starting. I have 0 direct experience, 0 RE-specific connections, and minimal deployable capital. With that, I have a wife and 2 kids, so house hacking isn't an option, nor is moving, so FHA & VA is out. I'm left with the 20% down or creative solutions options for financing.

If anyone was at this point in the beginning of their journey and found their way out of the quicksand, I’d love to hear how.

Thanks all for reading. I’m very glad to be a part of this platform and am hoping to connect/meet some of you within the NOLA area.

Anthony