All Forum Posts by: Antonio Cucciniello

@Nef Ojeda There's a specific point.  You first must be clear as to what your goal is, once you are clear on that, pick an investing strategy. Once you have that, pick a location. Once you have a location, call a lender.  Get a pre-approval letter. Then call an agent

Hey @Andrew McElroy I am from NYC/Jersey so I get that.  There are options in NJ, but tight right now due to the market. I am actually looking in other markets like Birhmingham, Little Rock, Memphis.

@Brandon Barnes As someone who mentors beginners, here are two options for you.

1. Find someone who needs an electrician and work with them in exchange for real estate investing knowledge

2. Invest in a mentor (by paying) and getting them to show you the ropes!

@Cole Britting 

1. Learn as much as I can about real estate investing. 

2. Clearly define my short and long term goals

3. Find an investor in my market and work for them in my off hours to learn how they think and act

4. Analyze deals regularly

5. Buy my first house hack/investment property

@Elijah Marrero Molina The answer to this question will be different based on how much money you have to put down, and which city you invest in. 

Different cities have different rents. The more cash you have to buy properties the more cash you will have to put down which will reduce your expenses. 

What I recommend instead is that you find a location to invest based on data.

@Jonah Kolsrud Yes, so one factor that lenders look for is called DTI or Debt to Income Ratio. The formula for it is: How much your expenses are per month/ how much you make per month pretax.

So, theoretically, if you keep the same spending at your new job, you would be increasing your DTI which is not good.

You want to have a DTI of below 36% for example, if you spend 720 per month and make 2000, then you have a DTI of 36% which is good!

@Andrew Yen Great that you want to get started. I understand how you feel, you want to get out of the rat race. Same here. I personally do not recommend starting with the BRRRR strategy as your first property because of how complicated it can be to pull off, especially for beginner real estate investors.

My recommendation is you learn either fixing and flipping or rentals first. Do one, then move to the BRRRR.

@Klint Ruud I would recommend he start with a rental, where he puts 25% down in a cheap market. (thinking like 30K down). He uses that to learn how rentals work and understand the process from start to finish. Then uses the remaining cash to BRRRR.

@John Doss Either method can work, it honestly depends in your confidence in your deal analysis abilities...which will improve over time. 

You can make an offer on a multifamily within minutes of it coming on the market if you are confident that the numbers will work. That's how I got my first one. Came up on a Sunday afternoon, I knew I had to pull the trigger right then and there.

I definitely think its a great idea to get started ASAP and not wait till college is over.  You will learn tons in the process, and you will be building your wealth while tons of your classmates are just renting.

@Vinh Nguyen Put yourself in the tenants shoes. Likely they will not be happy about a rent increase (Especially if its a larger one.) Instead maybe offer to add something of value in return for the rent increase (a nicer kitchen, bathroom, something they want fixed.)