All Forum Posts by: Antonio Cucciniello

@Charles Pallas I literally just moved from Marlboro, NJ to Austin Texas last month, but have been here back and forth over the last few years like 20 times. 

1. I have been looking for a single family house hack but it has been difficult, houses are going 50K over asking which ruins my numbers

2. Better landlord laws than NJ, I am invested in NJ

3. Can't answer the last one, but my agent @Victor Steffen might be able to help you.

Anyways, I would be glad to answer your questions about investing and the move from Monmouth county to Austin.

@Loubert Jean Philippe I would recommend you use the networking search feature on here to find agents in your area!

@Mitchel Pirnat If possible I would house hack, learn the process of investing and get to live for cheaply

@Stephen Bernard 

Similar to what @Claudio Salvatorelli said, do you think its possible for you to start with a house hack using your VA loan?

This can allow you to live and invest at the same time. Helping you feel way more confident about starting out, rather than jumping into a FLIP or a BRRRR which is a higher stakes situation.

@Shanise Kimbrough the only difference with the duplex analyzing (that I do at least) is make sure you are accounting for the rents of each unit.  A beginner mistake I see is if the duplex is listed as a 5 bed 3 bath, but is really a 3/2 in unit A and a 2/1 in unit B, then you need to get the rental value for a 3/2 and a 2/1individually rather than getting a 5/3 rent. Add the rents together and use that as your total income

I think the next logical step is for you to get another property with your dad. Create an LLC and buy it with a commerical loan if you want to do it right, you will have a higher interest rate but the property will be in the name of the LLC.

@Shane Hutchins What loan did you use for that first purchase was it a VA loan? Is it in both of your names or is it separate? If its in only one name, the other can still use their VA I am pretty sure (but please always verify with multiple lenders)

Second, if you used them both and you need to refinance, you have a few options:

1. See if there is any work you can get done to your current property to raise the value and the equity that will help you get over 20%

2. Is there any expense you can cut out of your life? Reducing expenses can help you get a loan.

3. Is there any way you can increase the amount you earn every month? Increasing income can improve your DTI which can help you get a higher loan.

@Fahadbin Alam I am from Jersey, where are you from?

Yes you are supposed to find properties as close as possible that have been sold as close to possible to today that are as close in amenities and size and split

Ask your agent to get you these (ask for recently sold)

If your agent can't help with this you can use Zillow for this

@Mike Gotti

Awesome that you have that much saved! 

One thing that would help me give you better advice here would be what are your goals with investing?

Not knowing that, I would recommend you find a cash flowing market around the US. Do a regular 25% down payment. Learn the process, and then use the remaining capital to BRRRR your second property so you can learn.

As to how much you can afford I think is not the best question to ask, instead I think you should be asking where can I place my money for the highest return on investment!

@Mike Gotti

@Jason Cook That tends to happen, areas with worse schooling and worse crime have higher cash flow simply because the appreciation in those areas have not happened as high as they did the in B and A areas.

I think its important to realize that here, you will likely want a better property manager (so maybe this means to budget a higher percentage for that cause likely they cost more), budget more for vacancy if you consistently get bad tenants, and budget more for repairs and maybe those tenants will not take of the property as much.

I personally invest in C areas because I think its the sweet spot between D areas which have too many problems and B areas which tend to have higher home prices (Which eat into my cash flow)