All Forum Posts by: Eric Calabrese

Hey Eric that's awesome news and congrats on doing your first deal !!! All I can tell you is that what you are feeling is extremely normal. By stepping outside of your comfort zone and doing something you've never done before it is natural to feel nervous or overwhelmed. Keep remembering that if the numbers made sense from the beginning then you are in a good position moving forward. By doing this first deal you are way ahead of the crowd who never took action.

After closing make sure you pre-screen tenants to your greatest extent and learn about what is needed to properly manage your investment. This is the first of many man way to go !

Thank you! Managing it is the most important thing. I see you also live in flushing. I was thinking of also getting my license after settling in with this deal.

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Originally posted by @Account Closed:

Im not on board giving congrats wo seeing what he bought. A guy bought a lousy deal on another thread and all i hear is good job. That doesnt really do him any good.

If you read their comments you'll notice them congratulating me on taking the initative into making that big step. Lots of people make mistakes on their first deal. Even with running my numbers and seeing a positive cash flow of over $400 and seeing a 9% COC return I'm sure I missed something but if you never try you never learn. Have some positivity

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Originally posted by @Josh Stack:

Hey @Eric Calabrese,

I know the area where you have purchased. Can you shed some light on how you determined vacancy rates in the area when you were doing your due diligence on the purchase?

If you Google the zipcode with vacancy rates you'll prob find a site that will show you a whole bunch of numbers. With the rents I just looked up similiar houses in the zip code to make sure the agent wasn't ********ting me. Everything he told me seemed to always check out because I always asked him before looking to see if I can trust him.

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Originally posted by @Raul R.:

Too bad our home market is not the same. Before investing in Charlotte I looked everywhere around us and the numbers didn't add up.
I give credit to beginners who invest in NYC, they most be very creative.
I follow a lot of formulas, one big 1 I have is 1% percent rule and I couldn't find that in Tristate area, not even close..

What's the 1% rule if you don't mind sharing your brain little lol?

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Originally posted by @Raul R.:

Congrats!!!
I'm an out of State Investor and invest in Charlotte as well.
I concentrate in the University area..
Man I wished I started when I was 23, you have the right idea..
I started investing in Charlotte 2 years ago now I have 3 investment properties so far so go good it's a good market but yes I agree right now it's a seller Market.

Dude I wish I bought in Charlotte2 yrs ago good call man.

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In Mecklenburg it's a single family home... I would say its in a C class neighborhood. I wanted a multi-family in charlotte but all of them are in areas where you won't get your rent so it's not worth it. Luckily for you though the rent is pretty nice over there AND almost all the homes are fairly new mine was built in 02.. Low unemployment low vacant housing. My area is a 70/30 split. Charlotte I believe is going places I wish the market was bottom right now but it is what it is.

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Remmoy I invested in charlotte NC I'm located 8 min away from the airport and 10 from the city. Very up and coming. A lot of construction is approved for high rises over there.

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Alexander thank you I agree but it's still always nice to have support and no be alone lol. The numbers work which is why I haven't felt that "buyers remorse" it's just a anxious moment. The next property is definitely in the works! Aiming for another next year.

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Thank you guys, Erik I'm going to look it up and see

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Thanks terry I agree I need to surround myself with more like-minded people. After this purchase im going to get my license so I can be around more real estate people in general. Sadly I spoke about real estate so much to my girlfriend and piers that they don't want to hear about it anymore lol.

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All Forum Posts by: Eric Calabrese

Eric Calabrese has started 23 posts and replied 69 times.

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property

Post: My first investment property