All Forum Posts by: Greg Pasquale

Hello to Everyone at BP!

I have already posted a question or two in a different thread but wanted to formally introduce myself here.

I am obviously new here as well as to Real Estate Investing. My current and past investments have been in “paper” – stocks, bonds, 401K, and also physical gold and crypto-currency. I also actively trade stocks and crypto a few times a week. This all pales in comparison to Real Estate. To say the amount of real estate info I have processed over the last month (through books, blogs, articles, and this site) has been overwhelming and intimidating is an understatement. I will have lots of questions (I apologize in advance for the rookie questions) and I am excited to hear the feedback from so many folks from various backgrounds and skill-sets.

Admittedly, I am unsure of where to focus yet. I am still in the discovery stage. I am still weighing my options, looking at my individual circumstances, and defining my goals.

I live on Long Island (yes I know…competitive markets, tough, lots to consider) and would love to hear from, and connect with, folks who have some experience investing in Long Island (or anywhere for that matter.) I can get into more of my individual goals, financial situation, etc. as well as I . I am not opposed to any type of real estate investing at this point (i.e. house hacking, remote investing). I have some disposable income, which could increase as this year continues, and do not want to squander it or put it into my current portfolio. I am also at a stage in my life where I am able to take on this challenge and learn a new skill.

I look forward to connecting with the people here and paying it forward as I take my lumps and gain experience.

Anthony - Yes, it is a consideration for sure.  See my post above yours.  Since I am super new and still absorbing everything I have lots of questions and want to make sure I put my focus in the right spot that fits my situation.  I am going to start looking at numbers in my areas to see if hacking is feasible.  Long Island prices are high but so are rental units.  

I'm still new and still learning and would need to crunch numbers so forgive my ignorance but isn't price all relative? Especially on Long Island. Housing is sky high...yes. But so is rent. Couldn't I use an FHA loan, purchase a duplex or triplex and live in one of the units? (If the math works out). Could always sell it in a few years if I'm able to force some appreciation into it also. This isn't my final answer...just brainstorming still. Alot to learn and remote investing is not out of the question. Overwhelmed at all the different options I have with real estate investing so aside from 5 books and tons of research I've done you are truly seeing me on like day 2 of going public with my real estate journey.

Thank you to all.  This was all very helpful and encouraging.

One other quick question (actually 2). Would financing it with my LLC (I have a side gig that does well) help or hurt? Better financing options or worse?

Also...how do I @ someone?  Is there a quick way or do I just type out @"so and so"?

Thank You. This is what I suspected.  I live on Long Island so everything is a bit higher comparatively.  Once my kids are a little older and "on their own" I want to leave NYS.  So this might be ideal for a 2 year flip situation.

I apologize.  I wasn't clear in my post and realized I was rambling. Giving more info than needed.  I'll simplify...I invest in stocks, hold gold, have some bitcoin.  Always intimidated by real estate.  I have 30k on hand (after a year of living expenses and currently hold a 6 figure day job).  I've been researching and studying the different real estate investment options...in your opinion what is the best way to get started with 30k disposable cash?

Been reading during the quarantine like a madman about all sorts of real estate investing.  I'm glad I found this site.  Been lurking a few weeks but now have a genuine albeit novice question...

My day job is a decent 6 figure salary.  I live however in one of the more expensive parts of the US.  I'm also divorced and pay a nice chunk of child support.

In order to rent a decent place until my kids are a little older (14 and 17 right now) I rent a 3 bedroom unit in a rental complex.  Its more than a mortgage.  But over the last 3 years my side gig has allowed me to pay for the apt.  Annually my side gig can bring me an extra 30k to 60k.  30 to 40 each year has gone to the rent.  This year I'm guaranteed at least 60k probably more from my side gig.  By August I potentially may have 60k in cash.  I'd need about 30k of it to live in this apt for another year (if I had to).  I can't make the same mistake and use it just to live here.  The other years I spent it on rent and the rest on trips and crap.  If this side gig ever dried up   I'm screwed.  I put into stocks, gold, and other paper investments.  But I want to do something with my excess funds and real estate seems to make sense.  I'm still learning and expect to make mistakes.  Whether it just creates some cash flow so I don't need to rely on my side gig or I can do more...I just don't know.  So what in your opinion should I do with at least an extra 30k, probably 10 to 20k more?. I can't squander it again.  Or even though it buys me another stress free year or two...it could dry up after that and I don't want to live year to year when I have that kind of cash on hand.  Any ideas would be appreciated.