All Forum Posts by: Frank Patalano

Hello looking for anyone who could refer me to a PM out here in Rhode Island! Thank you!

CashFlowKings Podcast tho it's heavily focused on the New Englad area.

I don't have much now I'm getting it back it back up with my W2. And looking into maybe some creative finance  options. 

 I love this! I'm in the middle of my first purchase in a hot market and sometimes I get a little discouraged when I'm reading these forums and seeing some of the deals that other people are getting elsewhere in the country. I bought a fixer-upper that I'm going to have to put a lot of work into, and when I look at home rentals on craigslist, I see that brand new, bigger homes are renting for the price that I'm paying for my mortgage on my outdated fixer-upper. That's a bummer because even after I fix it up, it still won't rent as much as a bigger, new house in a nice development. Nonetheless, I have to remind myself that I'm just getting started even though I'll be house hacking and still spending a comparable amount to my current rent, at least that money will be going into my equity now and that I can start building momentum. Plus if it were a "great" time to buy, I'd probably be priced out of the market even harder!

I do not have much in reserves now as I just purchased my family home. I am currently building it back up now.

 Hi Frank, thank you for your input.

Just to be sure, you're saying pay them to go to the open house with you, if it is obvious that we would want to do some reno? 

That way, we could know our possible expenses before writing an offer, right?

Appreciate your help!

Great question/answers :) 
I dove into REI about ~2 months ago (this is my first post on here!). I've read about a half a dozen books so far, BRRRR sounds very interesting. I'm hoping to head to the next RI Real Estate Investing group meetup in May (can't make it to the one tomorrow unfortunately).

I've been watching auctions pop up in my nearby area, drive to them, see how they look, see what they go for, etc.  I've also been looking into apps to help me with my funnel (deal machine, propstream, etc.). I'm also working on learning to analyze deals.  

Overall - just trying to become experienced enough with the process to pull the trigger on a first property.  Given the market - and my lack of experience - I may have to wait for a larger dip/correction - but if something pops up that seems to work once I have confidence that I know somewhat what I'm doing - I'll hope to grab my first property.  

Given we are both in RI - hope to see you around!  
Dave

It would be.. I don't have enough in reserves to ensure I'm comfortable.

Hi everyone,

Looking at multiple properties in the Pawtucket area and came across one that is priced well due to needing a lot of work. I hadn't thought about doing any sort of rehabbing for our first house hack but it got me thinking...

How long and expensive would it roughly be to remodel a duplex? We would want to house hack but wouldn't want to live in that construction zone of course.

Any input would be greatly appreciated, 

Thank you all