All Forum Posts by: Christopher Valerio

I am looking to invest in NY, preferably the Long Island area, however, after analyzing many properties it's hard to find something that makes sense. Seems as though not only increasing market value is the problem, taxes seems to be the biggest problem. Average yearly taxes are $9k+. Any suggestions?

Seems as though flipping is the only option but even that is hard to find given list prices.

I'm currently living in NY and with recent landlord-tenant laws, extremely high property taxes among other things, its not worth purchasing a rental in my area. However, the idea of long distance investing has been on my mind for a while now. How should I go about getting started? Any tips or ideas? And are there any markets recommended for investing? What should I look for when picking a foreign market? Thanks in advance!

@Ali Boone that's what I thought! I even thought about BRRRR investing but still... The purchase price has to be REAL good (virtually impossible in this market) to be able to cash flow.

I have thought about long distance investing, however, I do find it difficult to do given I've never tried it before. I'd like to do more research and find a good market to invest in. Any recommendations? Tips? Advice?

I live on Long Island, NY where life is great and taxes are high... REAL high. My personal property taxes are about 13k a year. They say that if there are houses being flipped then there is opportunity for a rental. However, when analyzing deals everything seems to be going well until I beging calculating taxes which range anywhere between $850- $1,100 a month on a decent 350k-400k house and rental income will be about 2600-2800 a month.

I guess my question is, how should I go about approaching a deal to buy my first rental property? This is all new to me and I need help weeding through to find the best deal possible. Thanks in advance for all the help.

What's the best type of loan for a rental property when doing BRRRR method?

@Jason Allen would you be able to elaborate a little more on that please? $2000-$3000?

@Tom S. Sadly house hacking and FHA loans aren't an option for me at the moment due to personal reasons but thank you for the advice!

@Sasha Mohammed thank you! I'm going to look into it... Hopefully I can get started really soon. I feel prepared enough even at 19 that I'm sure I'll be successful. Obviously we can all learn more, we can never know enough but... I'm ready! I appreciate you taking the time to reply. Thanks again.

I'm 19 and I've have been working as a real estate agent for over a year now. I've done a bunch of research, read books, worked with investors on flips, etc. for months now and I feel as though I'm ready to start with my first investment property. The problem is finding the deal. The moment the question of age comes around, everything gets turned down. What do I do? Where do I go? Or who do I work with to get this started? It's not a question of drive because the drive to succeed is there... Funding is the problem, especially here on Long Island, NY.