All Forum Posts by: Alex Silang

I own a rental property and live in Massachusetts. I need umbrella and renter's insurance. It would be nice if I could stay with my current auto and property (rental) insurance. Looking for an independent insurance agent/broker that can help me. Thank you.

@Owen Rosen

I appreciate the quick reply Owen. I've used your contact form and left my phone number. Looking forward to your call. 

So I’ve read that unbrella insurance providers require you to use them for car and home. I am a land lord but don’t own my residence.

What are my options?

So my area has sub 6% cap rates. If I'm borrowing at 7.5%, is that value destruction (unless appreciation is really good)?

Each deal is different of course. But unless you get a value-add property, purchasing real estate really doesn't make much sense in this environment?

There are 11 million undocumented immigrants in the United States. If even just a quarter of them are removed, don't you think it would greatly affect housing markets? That'd be 2-3 million people not needing housing in the US any longer.

I've been thinking about this for awhile but unsure how the exact mechanics work. 

• Stability: Homeowners tend to stay in their homes longer than renters, which can create a more stable environment for families and children.
• Community engagement: Homeowners have a greater financial stake in their neighborhoods and are more likely to invest in their local communities.
• Well-maintained homes: Homeowners tend to spend more time and money maintaining their homes, which contributes to the overall quality of the neighborhood.
• Property values: There is a strong relationship between homeownership and property values.
• Local economies: Owner-occupied homes contribute to local economies.
• Safety: Owner-occupied neighborhoods can contribute to local safety.

I've identified an area that has a lot of multifamilies. 

Question is what to do. I'm only barely a millionaire. But I think if I can get enough people on board it could work. Could get creative to, maybe issue shares or something. 

I was talking to a RE friend.

He said it's a bad time to buy

* rates are high

* homes are expensive in most markets

Looking to hear some counterpoints. 

Thanks

My question is, why not stop at say $2M. Why are people going for $10M or more, which is at the point you'll have trouble spending it all. 

So I had a windfall and can sort of "semi retire" with a part time low stress job. 

Part of me is considering buying more real estate though. I like the idea of being involved with and affecting the world. 

But the other part of me is pointing out that I would have to come up with large downpayments for properties that would be break even or even lose money. Risky too compared to just holding stocks or bonds.

I'm not even worth that much money so I have to ask the more experienced and successful investors on this forum: what keeps you going? why more? 

can anyone relate to me being tempted to chill out and do nothing?

I have a unit that is paying significantly below market rent. Let's say $800 in a $1000 market price area. I have it raised for $25 on 1/1. 

There was a huge cost recently. 

I want to raise it another $50 on 2/1. Not the best thing to do - I should have raised it originally for a higher amount. But price will still be significantly below market. 

What are your thoughts on this?