All Forum Posts by: Doug Larson

Also interested, please let me know if I can help in arranging anything!

Just looking to get started in real estate.  I can either start right away and buy a duplex / tri / quad some where in the $100k - $300k range. Or should I hold out until I have some more cash on and invest a larger multifamily in the 15 - 20 unit range?  Looking to invest in buy and hold multifamily properties for cash flow.

Hi Guys! I was wondering if anyone might be kind enough to share an example of your business plan for Real Estate Investing.  I am starting to try to put my plan together and just wanted to have a look at some solid examples of business plans that you guys may be working on.  I am looking to invest in Buy and Hold Multifamily Real Estate, so if someone has a business plan for a similar model that would be great! Any help would be appreciated.  Thanks!

Hey Kevin thanks for the Reply! Yes, so it is an 8 unit building, all of the units are one bedroom. The listing has Gross Income listed at $53,280 with Operating expenses at $28,710.  They have some coin operated laundry but I would guess unit is currently renting for $550 and it's listed that it is at 100% occupancy.  Could you also please explain where you got the number where you stated $11,766 on a $55,000 investment? Where did $55,000 come from? Thanks again :)

Hi, Sorry for the newbie question. I just starting seriously looking into real estate investing about a week ago and have been reading and looking up as much information as I can. So the question I have is how come it doesn't appear that paying back loans / mortgages is considered when determining the value of a property? EXAMPLE: there is a property that I found for sale online which is listed for $220,000.00, The NOI is listed at $24,570 and the Cap Rate is listed at 11.16%. But assuming I put down 20% on the purchase that would leave me with a mortgage of of $176,000. Which comes to roughly $12,804 / yr so what I am actually looking at as profit for the year if everything goes perfectly (which I know is almost never the case) is about $11,766 is that correct? Which I then have to pay taxes on? It just seems like that is not much of a profit and would take me another at least 5 years to put a down payment on a similar property assuming i'm putting 100% of my earnings into savings. Again sorry for the newb question. I just want to make sure I'm doing my math correctly and get opinions if this is a typical looking deal in real estate? Would the above be considered a good deal? Thank you!

@Alex Scott Thanks Alex. All great tips I will definitely do some studying on the topics you mentioned. 

@Alex Scott Hey Alex! Not really sure yet. I'm hoping to save up a little more money and then invest in a Quad or maybe a Tri for my fist investment.  As far as what areas I am pretty open, I like the idea of investing in something in the city, elmwood village area or north Buffalo with the area making a come back.  But I need to do is some more research and possibly find a mentor to teach me what a "good purchase" looks like.  I know the theory of buying something for a good deal at around 70% of the value then putting some work in to really make a profit on it. But I really don't know how to personally value real estate at this time.

Hi Everyone,

My name is Doug I am a 25 year old living in Buffalo, NY.  I am new to real estate investing and looking to make my first purchase in the next year.  I am interested in buying a multifamily home and or apartments as a rental property investment.  I currently have about $25,000 in savings and I am now saving about $3,000 each month to put towards an investment. My annual yearly income is $100,000.  Just looking for some tools and advice to get started in real estate investing!