All Forum Posts by: Daniel Gonzalez

@Michael Cohen Thanks for answering. So again may be a silly question but is the upfront underwriting the same as a pre approval or pre-qualification? Or are all those three different?

@Darren Sager BiggerPockets is such a large asset, aside from its content members such as yourself really give this site a lot of its value.  I give lots of credit to those who invested before BP and have found tremendous success.  It just shows what hard work and determination can accomplish.

@Anthony Sottile Funny story, the triplex I lived in during college came on the market a summer or two ago.  I wanted to buy it and invest, but I was trying to partner with family. They did not see the opportunity I saw so nothing came of it.  That is why I am now trying to get started on my own.  I still keep an eye out for any deals down there though. I would like to get into college rentals in the future.  

@Darren Sager That makes sense.  I had no idea about any of things you mentioned.  I am still pretty new to the financing/closing portions of real estate investing, more research required on that end.  Is the upfront underwriting that @Michael Cohen mentioned before what you are referring to with the "true mortgage commitment"?

Venison Fajardo thank you. I'll be sure to check all that out. I am familiar with the podcasts though. They are excellent. Learned a lot already and still have more to listen to. Darren Sager thank you as well. I wouldn't be investing in Hoboken, I don't have enough capital to even think about that. I am looking in the surrounding areas, from Jersey city to Montclair for example. Definitely don't want to limit myself too much. When you say lower cost of capital what do you mean by that? Bidding higher wouldn't necessarily turn a good deal into a great one right? So in this case why would it be ok to bid higher.

Hi everyone, my name is Daniel Gonzalez and I am an aspiring investor from Hoboken, NJ.  Brief background on me, I was born and raised in the North Jersey area and attended Rowan University in NJ where I earned a degree in Health and Exercise Science.  I am a personal trainer, physical therapy technician, and I also help rehab and renovate my family's rentals. At the moment I am trying to switch careers so I can scale my income and invest more heavily in real estate.  While I do enjoy my current career I know it isn't the most effective way to build lasting long term wealth.

Recently I moved to Hoboken and have become more interested in getting involved with real estate.  For those of you who do not know, Hoboken has really high rent and my landlord collects some nice checks from just this one building. Between my current situation, my time in college as a student renter, and even seeing my family dabble in rental properties I have decided this is something I want to devote significant time and energy towards.  

I am interested in house hacking (duplex/triplex/fourplex) and want to be a buy and hold investor in the long run.  I am looking in the surrounding areas for properties that need work and have value add opportunities.  Hopefully I can connect and learn from the members on BP and have some success.  I will also do my best to add value to the site as much as possible, while I may not know a lot yet,  I look forward to contributing anyway I can.  

Thank you in advance for any advice, mentoring, tips, leads, and connections.  Also thank you for reading this and welcoming me to the community, I look forward to being of value and continuing to learn from everyone here.  Also I apologize in advance if this violates any site rules, I have read them and think this post is in the clear.  just wanted to throw that out there. 

Thanks, Dan