All Forum Posts by: Danelson Rosa

Hey Terrell, thanks for reaching out and offering to help. It'd be great to connect and chat with you *sends Colleague request*

@Adam M. and @Sam Shah

It would be awesome to collaborate on a project. Where are you guys in your real estate investing journey? As a newbie, I'd be most interested in some sort of engaging, educational app to help folks ramp up quickly and effectively. What project would you want to build?

Hey Tony, thanks for your post. That's cool your company is already doing list building and accurate skip tracing. Is there a link you can share where others can use/buy your app?, or is it internal software that you guys have built? 

To your comment on scraping Zillow content, that should be a cinch for your developers! Have you asked them about it?

 Just sent you a message; looking forward to hearing from you.

Lol yeah never mind that basement idea! Belated congrats on the pregnancy! Re: the FHA and Trulia, oh okay, I see - exciting!

Thanks for sharing those details! Which MLS did you find it on? That's interesting...how come the seller wouldn't accept FHA? So there's a second floor, a first floor, and a basement? Can you and your wife take the basement unit and rent out the first two floors? Ha, I can understand that about the South Bronx - I went to high school there. I live in Soundview where most properties range from $400K-$800K. There are a few properties I've come across by just walking around that needs some TLC and then even more TLC, but I'm not sure how to look into what's going on with them. You will find someone to rent that 1 BR in Queens and whether you realize it or not, you have already started your side hustle so keep it up!!

Congrats on your first duplex property, Tom! Unfortunately I don't know of any contractors yet, but you came to a great resource where folks will be willing to help out. Do you mind sharing the details for your purchase? How'd you find this house? What was the purchase price? How'd you finance? How much in repairs do you anticipate to put in? Will the rental income cover the monthly PITI? I ask all these questions because my goal is to find a Bronx property that needs TLC and do as you're doing by living in one unit and renting out the others. Thanks in advance for answering those questions!

The quickest answer I'd give here comes from one of my favorite quotes said by Henry Ford: "Whether you think you can, or you think you can't -- you're right." In the end you'll be fine either way with a property in either the Bronx or Jersey.

Now for a response that's less airy lol: it depends! I used to dislike the words "it depends" because it never really gave me a straight up, clear answer or direct path for where I wanted to go. Now when I think of those two words, I've come around to liking them because it forces you to think about your unique situation and answer a bunch of questions that hopefully lead you towards one area over the other. For example: how much financing do you currently have or will you have with which to play?; with your strategy of buy-and-hold, what's your vehicle of choice?; where can you find deals where the numbers work in your favor?; have you connected with realtors in both areas to better understand their respective markets?

Hope this helps! To your future empire,

Danelson

 That's cool you're hitting the ground running by also educating yourself and looking for properties! Are you trying to stay local or have you been looking outside the BX? It'd be great to find a deal here, which is where I've spent the majority of time in terms of looking for properties. I've also though looked beyond the Bronx like in Yonkers, Mt. Vernon, New Rochelle, Bronxville, etc. All of those were pretty much move-in ready, but I'd want to find one that needs some TLC and sites like realtor.com or Trulia don't readily show properties like that. And it's great to check these places out, but I feel like at this point I should focus more on practicing finding a good deal, at least on paper. I've noted properties for sale in my area and want to run the numbers and do an investment analysis on them to see if they would pan out.  Absolutely, let's stay in touch *sends Colleague Request*!

Hey @Raina B., welcome! Good to know there's another young real estate investor from the Boogie Down like me. Like you, I'd love to invest here. Am currently looking to house-hack my first home (BP article: How to House Hack), which means finding a multi-property, living in one unit, and renting out the rest such that the tenants cover the monthly expenses and essentially pay all the bills for you. To answer a question you had earlier about what books to read, you can check out my Amazon list of real estate books, which I've made based on recommendations from BP's podcast interviewees, as well as BP's official top books to read list.

To your future empire,

Danelson