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All Forum Posts by: Elizabeth Garcia

Elizabeth Garcia has started 4 posts and replied 30 times.

Congratulations, how exciting @Chivas Miho!  

Best of luck and keep us posted on how things go.

Post: is receiving monthly rent in cash bad?

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

Thanks @Mario Mormile for letting me know about E-rent payment, I was only aware of PayPal and Venmo for electronic rent deposits.  

Merry Christmas šŸŽ„ 

Post: is receiving monthly rent in cash bad?

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

Thank you @Eric Gross and @Cara Lonsdale for pointing out he paper trail aspect.

Post: is receiving monthly rent in cash bad?

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

I just finished watching the webinar, "How to Buy Your First Duplex, Triplex, and Fourplex!" in which Brandon comments that collecting the rent in cash was "stupid." Can anyone enlighten me on why collecting the rent in cash would be bad?  

Thank you in advance.

@Daniel F. Harb, similar to you, Iā€™m new to BP and my surrounding market is too overpriced, having me look OOS. Iā€™m in the middle of reading the book ā€œlong distance real estate investing ā€œ by David Greene (bought through BP) and it goes through the process of finding teams out of state in order to make a confident purchase. You might want to look into it. Thereā€™s also a podcast (#257) based on the book and author.

Post: What do the property class types mean?

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

Thank you for asking this question because I'm new to REI and have also been unsure about the criteria for each class type.

Post: My first buy and hold property

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

Congratulations!  What a find to have the property renovated and  units were already occupied.  You made a great deal and may your success continue.

Post: Closed my first wholesale deal this week

Elizabeth GarciaPosted
  • Westbury, NY
  • Posts 30
  • Votes 13

Congratulations, what a way to end the year!

I just bought the book and I canā€™t wait to read it. I was impressed with Mr. Greeneā€™s thought process and strategy. Iā€™m at the very beginning of my journey where I know The Who (me), the what (buy and hold MFH rental), the when (within the next 2 years), and the why(extra income and tax advantages), but Iā€™m having issues with the where. The market near me is very expensive and am thinking about out of state investing.

Greetings and salutations, Iā€™m a novice who is interested in buying my first property by no later than the end of 2019. Iā€™m a registered nurse and, while I make a decent amount now, I want to buy rental properties to hold in order to build up enough wealth to support me in my retirement.

My real estate background is minimal, which is why Iā€™m so happy I recently found Bigger Pockets via Pintrest. The articles contained within are a real eye opener, especially those of Coach Carson, from whom I learned more from his articles and videos, than all the real estate investment books I check out from my local library.

While I know I need more education, I know for certain that at this point, I want a buy and hold rental property. Initially I had decided it was best for me to invest in a multifamily in the NYC area since the houses are quite expensive, but after listening to podcast episode 257 ā€œBut my market is too expensive!ā€ Iā€™m now considering looking out of state (I can either use down payment towards 1 home in NY, or towards 2-3 properties outside the state).  

I'm looking forward to connecting with other members of the BP community and if anyone could suggest any REI meet ups in the NYC area that focus on rental properties (MFH) or out of state buying (there are so many meet ups it's hard to decide), I'd greatly appreciate it.