All Forum Posts by: Eric DeVito

Hello all, I am a newbie here and would like to know what steps I should take when investing out of state. Thank you.

Jerry, thank you for responding. Owner occupied you mean that I would have to live in it and rent out a unit as well? If that is the case that is not possible as I live in NYC and will be staying here of course. I know of the FHA, but I would like to put between 20-30% down on my first deal just so my monthly payments are less and I have some equity. I am prequalified for NYC, I suppose I would have to get prequalified for Philly as it is a different state. I am knew to all this. Trying to see how "long distance or buying in a different state" might work out. I know the drive is not that bad.

Hello all I am a newbie here, just have been dong a lot of research. I am living in New York and I would like to buy and hold here, but it is just to expensive for a beginner like myself and not much out there in my price range. I have been looking into Philly area and surround areas such as Germantown for Buy and Hold Multi-family Rental Properties. If anyone knows what are good areas to buy in Philly or have any advice of what steps I should take to get started in long distance real estate investing. The drive is only about 1 hr and half which is not too bad.

Marcia thank you but a business card? I don't have a business card or company. I thought that is not necessary

Hello all, going to look at a 2 family property that I am very interested in. Just curious, once closing on a property what are some important steps or tasks that should be completed asap? I just want to be ready/prepared before I finally do find a property and close. I have been doing a ton of research, but still feel I do not know much and I am a bit nervous about pulling the trigger on a property.

Hello all, I will be looking at a few homes tomorrow and one of interest is a short sale 2 family home. I have done research on a Short Sale, but in simple terms what exactly is it? Is it a good idea for a first time investor to invest in a short sale or should I look else where? I suppose PROS/CONS of it.

Thank you all for the advice, I will def be bringing a notepad and jotting down notes. I will try to take photos with my phone as best as possible. Also in regards to what I as the owner/landlord of the potential property, how do I know what I have to pay and what the tenant pays? For example do I cover electricity or the water bill or does the tenant? Who makes that decision?

Hello all! I have been doing much reading and studying on real estate and found my niche which will be investing in a 2 family rental property. I will be going go to check out a few homes in a few days. I am nervous/excited at the same time. Still doing research/taking notes. Any tips/advice for what I should be doing when I go check out the properties with my RE Agent?

Welcome! I am a newbie myself, From Brooklyn, but looking to invest in Staten Island. Hoping to have my first property by the summer.

I as well would be interested in this.