All Forum Posts by: Mohammed Rahman

@Leonard Rybak I was in the exact same shoes as you 2 years ago right before COVID-19 hit. Since then I've gone through the anxiety and hurdles of learning about being a long-distance landlord from my base here in Queens, NYC. I'm happy to chat further about it, just shoot me a message and we can connect via a call. I'm a buy & hold across multiple properties in upstate NY. 

For me, the priority was being able to: (1) Feel confident that I wouldn't have trouble finding a tenant (job & population growth) and (2) that I could attract the right type of tenant (so I wouldn't have any headaches with being a long distance landlord). 

It might seem like a lot of work up front, but taking it one step at a time is the key. Look forward to hearing back if you want to chat! 

@Matthew Irish-Jones Thank you for the invite! 

Is your office open on March 7th (Saturday)? I should be in Buffalo by 10AM :) 

Sent you a PM! 

Hello everyone,

First time investor looking to purchase my first SFR unit in the next 2 months (self imposed timeline).

I have a pre-approval from the bank and am now at the stage of hitting the pavement and checking out neighborhoods where I've scouted out homes. 

It's my first time investing in Buffalo and would appreciate the opportunity to buy coffee/lunch for investors in the region. 

Looking to just chat about experiences, mistakes, and WINS you've made. Also wanting to exchange contacts for contractors, handymen, agents, etc. 

My goal is to expand at least 1 unit every 9-12 months for wealth building, and would appreciate any early connections I can make. 

I will be driving into Buffalo the weekend of March 7th & 8th to get a feel for different areas, and can schedule coffee/lunch then. Really open to taking phone calls as well, any conversations help.

@Jacob Lea-Kelly Well said! 

@Matthew Irish-Jones I'm not disagreeing with you, your example is perfect. It's a matter of the investor deciding how much responsibility they're willing to take vs. cost tradeoff. 

Thank you for your replies @Matthew Irish-Jones and @Jacob Lea-Kelly - my overall concern with property management companies is the immediate sink in cash flow. Although I recognize this is short sighted as there is always a tradeoff: do I want to be stressed out on a workday about a leak my tenant just told me about, or do I just let the property management company handle it? 

Looking forward to staying in touch! 

Thank you for the response Dave! I've given it some thought and the projects I'm taking on aren't over the top rehabs that would require constant vigilance from afar, but more likely $3-$5k tops in rehab (painting, maybe subway tiling the bathrooms etc.) .

What's your process for finding reliable contractors? Even with having someone provide weekly reports, if the quality of work is sub par it's not worth it. 

Not disagreeing with you - just hoping to sponge from your experience. 

Hi all! 

I'm a fairly new investor looking to make my first purchase in ~ 2 months. I've already found a reliable agent who is also a part of the BP forums and has a few units under his belt. My question is regarding GC's and specialists. 

Because I'm located quite a distant away from my properties, I want to emphasize the quality of work of the contractors I onboard as part of my team - and thus am doing a ton of research up front. 

If anyone has any experience working with contractors - whether it's great referrals, or HORROR stories on who I should stay away from - please share them via commenting or messaging me. 

Really appreciate the help and looking to pay it forward as I get minted.