All Forum Posts by: Dusty Sanguinetti

@John Warren Thanks for your input that’s the direction I was leaning towards after making the post. I guess no deal is better than a bad deal or one that would set me back. Sometimes it just helps to here from others and understand their thought process.

Hey guys, I’m analyzing deals and looking for my first one to pull the trigger on. I’ve been looking around within an hour distance of my current residence. The property’s I’m looking into are 2-4 unit properties and the best I’ve found is about a 6% COCROI. Been searching for a steady month and just don’t want to get caught up in over analyzing phase and never take action. Now I know 1 month is not very much time to find a great deal but should I be even considering these 6% deals? Or should I keep my standards higher and widen my investing range to even possibly out of state deals. Just wondering what other people have done when in my shoes because I’m really eager to get my first property.

@Amelia Couey

Typically depending on your situation it will be about 3/4 percent difference on your mortgage rate. I’m not sure about a construction loan, that’s a good question. There are different ways to structure a construction loan too such as stand-alone or construction-to-permanent. I would to here input on the construction from someone else.

@Rene Arnaud IV

That depends on what your looking for. Are you searching for passivity or best return. Typically a 3/2 SFR will attract higher quality tenants that occupy for longer periods giving you less head ache. Although a triplex with 3 - 1b/1b could give you a better return on your money your tenants will likely be tougher to handle and have a higher turnover rate. Atleast this is the case in my area, just my 2 cents.

@Baahir Starkey I think househacking would be a perfect strategy for you. If you acquire a 2-4 unit property and occupy one unit you should be able to save lots of money. Not only will you get a better mortgage rate on a owner occupied residence you don’t have to put down 20%plus on a property. On top of that you should be saving a lot or living for free compared to your current apartment rent. With that savings you can acquire another property sooner. Just my 2 cents, I wish you the best of luck on your journey.

@Vennis Hong if you are looking for a safe place you most likely won’t make a great return. I’m in your situation also, I found that PNC banking offers a 2.33% fdic insured savings account. It’s not great but it’s the safest I could find for a decent return. I thought about prosper or lending club but just didn’t quite trust it. Another idea is to maybe diversify your savings into prosper, money market, and fdic insured savings.

@George Blower Thank you I have been lurking the forums and really like it so far!

@Jenell Poncabare That would be great, I will definitely look into the meet up. Thak you for the outreach. The license definitely isn’t needed and I can see how it can even distract you from your original goals. On the other hand I don’t have much experience at all with real estate yet so in my eyes it’s just to get my feet wet and see first hand how the process works before diving in.

@Vick Galu My plan is to use the knowledge I gain to help me become a better investor. I will most likely become a realtor and work for a broker in the beginning but branch off on my own into just investing in rental properties and an occasional flip. Have you been thinking of getting your lisence?

I’m a new investor looking to invest In the Modesto area. Looking for investing partners and would love to just network and connect with like minded individuals and hopefully find a business partner. I’m currently going through the process of getting my realestate license so I can actively search the MLS myself and better prepare me for my endeavor. Would love to here from some of you whether it be advice, recommendations, or just a simple hello. Looking forward to hearing from you guys.