All Forum Posts by: Chinmay J.

Snobs up here don't live in MF houses.. LOL.. Just kidding.. You will have to go down south towards Richmond, VA Beach... South Central VA basically to find any good inventory of MF houses

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Originally posted by @Diane G.:

Thank you to ALL of you for care to spend the time to share your thoughts...

I was not trying argue with anyone, just simply trying to get educated...

How are 3 people going to share 1 bathroom? Seriously?

At the same time, or one after another...

I used to think up until this point that you are actually a smart person, but I do have to rethink my stance.

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Originally posted by @Rushda Hakim:

@Caleb Brown

@Caleb Brown Im in Jersey City, local may be out of budget. Noted on the agents .

@Michael Reisman thanks ! Ill look into Columbus. What other professionals should I be looking to reach out to at this point? I know ill need a property manager, loan agent etc but I figured those are next steps.

@Alex Olson Noted thanks! Ill look into Kansas City

@Zeke Liston thank you!

@Stone Saathoff noted. thanks!

@Theresa Harris 200K is my total budget. Ill be putting 30% down. Want to start small since its my first property. Im looking to work with a property manager. What are your thoughts on that ?

@Chinmay J. thanks! any particular areas you recommend ?

I used to live in York, PA. I am a Penn State grad (WE ARE PENN STATE) You can try the Harrisburg/York area.. I am sure there is some representation on here. In the past I have talked to a few folks who were from there.. However, I don't know the area anymore, and not from REI perspective, and wouldn't want to steer you in wrong direction..

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Originally posted by @Rushda Hakim:

Hi All!

My husband and I are first time investors and are looking to diversify into real estate.

We're based in Jersey City but looking to buy remotely ,our budget is about $200K. Our goal is to generate supplemental income overtime but its also important to us that the property value appreciates over time too.

What are the best cities/neighborhoods to look at post covid? Should we work with a real estate agent ?

Not sure where to start from. HELP!

Thanks in advance !

Rushda

PA is your closest and best bet.

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I'd be interested as well....

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Wow... Good to see lot of people from my zip code.. Who knew !! Not much in LoCo, but you can find a diamond in the rough here and there. You have to venture south, east, or west...

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Just like others would like to know what methods are you deploying to get the deals?

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Originally posted by @Anthony Vander Meer:

@Chinmay J. I get what your saying. My issue with that is my growth would be slow. My cash flow on 10 units is decent at $3,000 a month but it would take me forever to save up the down payment on another 10 unit. Pushing my rents to market value or just below will dramatically increase the property value which will give me the ability to borrow against it and get me the next 10 unit and so on.

Oh no I get it.. I am not busting anyone for raising them. The properties that I own are all single family units. I don't own any MF properties.. There are valid reasons for raising the rents, and it does suit your business model.. But given COVID situation, it can be tricky.. In some states illegal and definitely not going to garner any popularity by doing so right now...

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If the property is listed in MLS, it should propagate to all the other sites like Zillow, Trulia, Realtor etc. . No need to list it separately.

If you want a real long term tenant, look into Section 8. It does come with its pluses and minuses - just like everything in life. If you can make it work for yourself, you can be golden !!

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All Forum Posts by: Chinmay J.

Chinmay J. has started 50 posts and replied 1178 times.

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