All Forum Posts by: Daniel Sabato

Does anyone have any good stories of success scaling up quickly? Just want to hear some creative ways people have gobbled up properties quickly. I look at it like even if I landed a great property that cash flows 200-300$ a month, which Id be real happy with, my next property seems very distant. Any good stories or strategies?

@Guifre Mora How do you make that work? I feel like I would need to be more hands on with my investments & being so far would be tough to manage

I’m having a lot of trouble getting started with my first investment property. I just can’t find a good deal that will cash flow in an area that I would be able to rent it. I’m in the NJ area, rents are high & vacancy low which is great, but prices & taxes are incredibly high. I had originally wanted to buy a multi family & live in one unit, then repeat, but it’s been impossible thus far. Any suggestions from anyone with experience or similar issues? I’m becoming very frustrated with the process and the market in this area.

@Nicholas Smith Thanks for responding & no I haven’t I’ve just been using the retail list price unfortunately. Not sure where else I can go, what do you suggest?

Looking for some tips & guidance from anyone who’s got something to say!

I’m living & looking to buy properties in the NJ area. I’d like to purchase a multi family home or multiple apartments to rent out. I had originally locked in on the multi family strategy because I’d have no issue living in one unit for a year & I could put less money down. I’ve had a lot of issues finding properties in this area that will cash flow. Taxes are incredibly high, as well as down payment prices here. Has anyone been successful in this area or similar areas? I’m glad I’ve been disciplined & have not jumped at the first property I could get my hands on, but I’m also a bit frustrated with the whole process so far. I’ve started to considered apartments & duplexes but I’ve had very little luck with those as well.

@Salvatore Lentini Thanks for starting this thread. For me it’s my location that holds me back I feel. Prices & taxes are very high here. Even to be an owner occupant putting only 5% down, the price is still so high that it’s difficult to cash flow. I’m in NJ by the way. I am glad I haven’t made a bad purchase and I’ve stuck to my rules, but it’s discouraging how hard it’s been to start up unfortunately. Ever heard about these obstacles in this area?

@Casandra M. Mine will be a duplex as well! Good points!! thank you!

Can anyone recommend the best place to get Pre-approved for an FHA Loan in the NJ/NY/CT area? I'm not completely sure of where to go & I want to do it right the first time.

Has anyone ever purchased a property with a tenant already living in a unit? Specifically one that is currently on a month to month lease? I don’t like the short term idea of going month to month, but there’s also a benefit to not having to find tenants & have immediate cash coming in from one of the units?

Has anyone ever dealt with this & how did you go about it? Ideally I’d like to switch the tenant over to a 6 month minimum lease.

@Theo Hicks I can definitely agree with that!!