All Forum Posts by: Arel Avellino

Awesome!

Hey Monica! I think you should look into REI meetups on meetup.com. Those are a great way to meet the people around you doing the business. Just connecting with them and finding out what they need help with or are looking for can be a great way to start melding into your local investor community and find opportunities others on the outside wont find.

@Sean Graham

Have you brought up this idea with your lender? My lender is also an investor and since he is the guy getting me the loan I talk with him first.

However even if he says no, you could pitch this to private money investors (hit up your local REI meetups) and then refinance this thing into a conventional loan after the construction is done on the third unit.

Hope that helps!

Cheers

@Aaron Patron there are a ton of REI meetups all around the NoVA area. I was at one last night that was a little closer to me in Middletown. Go to meetup.com and search for groups. Guys who are experienced in renovations, landlording, financing, deal finding, and many other parts of the investor experience come out to these events and not only can you learn from them but they can become you can do business with them and get on the inside track for your area.

Hope that helps!

What would you do with $160k?

I'm just starting out in real estate and I'm blessed to have about $160k sitting in dividend paying stock. I get about a $4500 dividend every year from that stock on top of the value increase in the stock. But with all the studying I've been doing in real estate, I know I can be doing way better than 5% returns.

So my question is what would you do with $160k and why?

I've been running businesses for the last ten years. So I feel comfortable building a business and creating systems. However my first moves will be to invest with the primary goal of learning and connect with some rock stars as @davidgreene would say.

Would love your thoughts!

@Barry Pekin nope I've never been. But sounds like something I'd want to checkout. I'll sign up.

@Hayden Haddad totally get that. Keep at it. Test the waters connecting with people in other markets as well too. Doesn't hurt to explore other markets, get pre-approved, and connect with other BP investors in those areas. 👌

@Bertram Scroggins hit up Zillow and Realtor.com websites and apps. They have a section with property taxes in them. You can get a good range on what to expect.

@Hayden Haddad I agree with @Jim S.

You shouldnt just aim to break even. Either look for some distressed properties you can add value to or go to another market (or preferably both)!

In Winchester, I just toured several properties all of which will likely cash flow $500 minimum. There are tons of deals and options in my area. So I can assure you that there are markets to cashflow in 👌

@Jerry Padilla this was an example 😝 actual deal in front of me would be closer to a lot more. Just wanted to make sure I understood.