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All Forum Posts by: Anthony Venezia

Anthony Venezia has started 7 posts and replied 25 times.

Post: I've inherited money... what's the best way to start!?

Anthony VeneziaPosted
  • Real Estate Agent
  • Phoenixville, PA
  • Posts 25
  • Votes 8
Originally posted by @Colton Fairchild:

1. I wouldn't tell people on BP you inherited 6 figures and are a newbie. You will get all kinds of messages on why you should invest in their deals. Just be cautious...

2. Try and determine what strategy makes the most sense for your goals. Instead of wanting to try them all, choose 1 strategy and focus on executing.

Good to know.. wasn't thinking about that. Thanks for the advice!

Post: Rental Calc Review - Please help me analyze this potential deal!!

Anthony VeneziaPosted
  • Real Estate Agent
  • Phoenixville, PA
  • Posts 25
  • Votes 8
Originally posted by @Caleb L.:

I see a few things wrong with this analysis.

1) Your vacancy rate is at 2%. It depends on the area, but you should at least start around 5%.

2) Your down payment is 5%. In this market, I've never heard of anyone ever getting a loan with a 5% down payment.

3) Your repairs are at $1,000, which might be good or bad in some cases. In this case, make sure to inspect the property BEFORE buying it.

4) Make sure your rent estimate is not to optimistic.

Hope this helps!

Hi Caleb, thanks for the feedback! Regarding the vacancy rate, noted! For the down payment at 5%, I'm still learning about the lending process but I'm looking to somehow be able to put less than 20% down to lower my investment basis. 

One of the agents I'm working with sent me this property and it is a turnkey rental so I don't expect to put much at all into repair costs, I just tried to play it safe with $1,000 allocated to that. I had the "play it safe" mentality with the rent estimate as well as $1800 is more towards the lower end. Thanks again for the feedback!
 

Post: I've inherited money... what's the best way to start!?

Anthony VeneziaPosted
  • Real Estate Agent
  • Phoenixville, PA
  • Posts 25
  • Votes 8

Hello Bigger Pockets!

I have zero experience in buying real estate and am looking to one day step out of my 9-5 and gain financial freedom through real estate. I am relatively new to the site and have been listening to the podcast/reading books for months now to learn as much as possible. I've recently inherited a very healthy amount of money and I fully intend to use it to jump start my real estate investing career.

I am very eager to get started as I feel I've learned a lot, but am ready to learn even more by jumping in and learning by doing. Over the last month or so, I have connected with three agents (two of which are property managers), two wholesalers, three lenders and two contractors. I've been trying to gain connections and build relationships as much as possible. I am also looking to possibly work with a mentor as I believe that could be very beneficial.

Understanding that there are many strategies to build wealth, I am very open to different strategies and/or combining strategies. I am open to fix and flips, turnkey rentals and very intrigued by the BRRRR method (I'm in the middle of reading David Greene's book on the BRRRR method).

I am looking for any advice, tips or suggestions on strategies to use moving forward. What's the best way to start? What would you do if you inherited six figures and had that type of a head start as a newbie? Thanks in advance!

Post: Rental Calc Review - Please help me analyze this potential deal!!

Anthony VeneziaPosted
  • Real Estate Agent
  • Phoenixville, PA
  • Posts 25
  • Votes 8

As someone who has no experience in real estate investing, but am ready to get started, I’m open to any advice or tips about this rental analysis! 

Due to my lack of experience, I have a hard time accurately plugging in numbers such as closing costs, fixed/variable expenses and any necessary repair costs, although I have connected with a couple contractors to help with that. I am kindly accepting any suggestions to help me analyze this potential deal.

Post: Rental Calc Review - Please help me analyze this potential deal!!

Anthony VeneziaPosted
  • Real Estate Agent
  • Phoenixville, PA
  • Posts 25
  • Votes 8

View report

*This link comes directly from our calculators, based on information input by the member who posted.