All Forum Posts by: Jack Pasmore

Hey @Marvell Martin ,

You're thinking along the right lines by house hacking a duplex or triplex! Given your goals of minimizing living expenses and setting yourself up for future investments, here are a few things that I'd consider:

NYC vs. Out of State

• NYC Challenges: High property prices, strict landlord-tenant laws, and heavier taxes. While appreciation is strong in some areas, cash flow is typically lower compared to other markets.
• Out-of-State Benefits: You can find better cash-flowing properties with lower entry costs. Cities in the Midwest and Southeast (like Indianapolis, Cleveland, or parts of Florida) offer lower purchase prices, better rent-to-price ratios, and more landlord-friendly laws.

House Hack in NYC?

If you stay in Queens or look at the Bronx, you might find a duplex/triplex, the key question is whether your rental income offsets enough of your expenses to meet your $1,475 target or not.

Out-of-State Options

You mentioned no location constraints—this opens up many landlord-friendly markets with properties in the $250K-$400K range where a 3.5%-5% down payment keeps you at a low entry cost. These markets also allow you to repeat the strategy more affordably and frequently.

Being a Landlord in NY

On the other hand, NYC has some of the most tenant-friendly laws in the country, making evictions and rent increases harder. If reducing your out-of-pocket cost is your top priority, it may not be the best choice for your first investment.

Final Thoughts

If appreciation is a priority, NYC has historically been strong, but it's not as easy to cash flow. If you want a better balance of cash flow and appreciation, consider landlord-friendly markets out of state. House hacking is a great strategy—just make sure you run the numbers carefully to hit your goals.

Would you be open to looking at specific markets that fit your criteria? I'd love to connect. I'm always happy to help! Feel free to reach out at any time.

Jack

@Grace Tapfuma

Thank you for responding. It'll require some work on your end. You'll want to 'screen' a few (or a lot) until you feel comfortable enough to know which ones you want to work with, trust, and feel have the ability to 'take you to the promised land'. Start locally and branch out (in person) or pick up the phone and start dialing. 

To address your questions:

Qualities of a Good Business Broker

Selecting the right business broker is crucial for a successful transaction. Here are some key qualities to consider:

• Professionalism and Integrity: A reputable broker conducts transactions with high ethical standards, ensuring reliability and competence throughout the process.
• Effective Communication Skills: Clear and prompt communication is essential. A good broker listens attentively, provides regular updates, and articulates complex information in an understandable manner.
• Proven Track Record: Experience matters. Look for brokers with a history of successful deals in your industry, demonstrating their capability to navigate the complexities of business transactions.

Finding Lenders and Exploring Financing Options

Identifying the right financing partners is essential for leveraging your equity effectively. Here are some avenues to consider:

• Networking Events and Industry Associations: Participate in real estate investment groups, workshops, and seminars. These platforms offer opportunities to connect with private money lenders and other financial professionals.
• Online Lending Platforms: Websites like this one or Connected Investors provide a network of private lenders and resources to help you find suitable financing options. 
• Consult Real Estate Attorneys: Attorneys specializing in real estate often have connections with private lenders and can provide referrals based on your specific needs.
• Engage Mortgage Brokers: These professionals have access to a variety of lending sources and can help identify financing options that align with your objectives.
• Local Banks and Credit Unions: Establishing relationships with local financial institutions can lead to personalized financing solutions and potential leverage opportunities.

By focusing on these qualities and avenues, you can find a business broker and financing options that align with your goals. 

If you have further questions or need additional assistance, feel free to reach out.

@Jennifer Frim @Alice Horn

Jennifer,

That’s awesome—you’ve essentially built yourself a low-maintenance, high-demand rental. Not everyone gets it right on the first go.

Sounds like you’ve got a system that works. Would love to hear more about it.

@Nick Sette

Nick, I like the way you're thinking; there are definitely deals to be had on the MLS. A lot of people sleep on properties that have been sitting, but where some profitable opportunities are.

That said, I’ve been spending a lot of time working directly with investors and sourcing off-market multifamily deals—ones that never make it to Zillow or Redfin. It’s been a grind, but I’ve built some great relationships and have been able to lock up some strong opportunities because of for my investors. After seeing their success, I'm looking to invest into some for myself.

Would love to chat more and hear more about what you're looking for next. Who knows? Maybe we find a way to do something together down the road. Let’s connect!

*I just replied to this message, but I lost connection. I apologize if it duplicates.*

@Grace Tapfuma @Henry Clark @Benjamin Aaker @Denise Supplee

Finding Your Best Strategy for Financial Freedom

Hey Grace, Benjamin, Henry, and Denise,

This discussion keeps getting better—appreciate all the insights here. Grace, it’s clear you’re serious about financial freedom, and I respect that you’re thinking through the best path forward. You don’t want another full-time job, which means your strategy should prioritize passive scalability rather than hands-on involvement at this stage in your venture. Before I continue, I'd like to make it clear that I am not a financial advisor by any means. I am responding with the experience and knowledge that I've gained firsthand by working with high profile investors in real estate. 

Denise brought up a great point about passive investing through larger deals. I'm so glad that she did, because this is exactly what my company is doing. We are working on 40+ unit deals. This is a smart way to diversify, lower risk, and still get into real estate without managing properties yourself. A lot of investors start with direct ownership but later shift to passive syndications, real estate funds, or private lending to scale their wealth without the operational stress. Since you’re considering selling your business, this could be a way to put your capital to work without taking on the headaches of being a landlord.

Right now, you’re at a decision point, and a few key factors will shape your next steps:

1. Leverage vs. Liquidation – Selling a business while it’s thriving can seem like the right move, but you still have to explore leveraging its equity instead. Benjamin mentioned business valuation tools, and speaking with a business broker or a commercial lender could give you insight into ways to use your business’s value to invest without walking away from a strong income source.
2. Investment Strategy That Matches Your Lifestyle – Since you don’t want something people-intensive, traditional property management or hands-on flipping is off the table. That’s where passive investments—whether in syndications, funds, or lending—could be a strong fit. You could operate as a Limited Partner (LP) while the General Partners (GP) are in the trenches doing the leg-work. The key is aligning your investments with the amount of time and energy you’re willing to commit.
3. Speed vs. Security – Achieving financial freedom by 36 means you need a strategy that moves faster than traditional buy-and-hold rentals. Henry’s right—long-term rentals alone won’t get you there in 10 years unless you deploy significant capital upfront. You’ll either need to focus on high-cash-flow opportunities or equity-building plays (forced appreciation in value-add properties. Ironically this is my company's focal point right now). Denise’s approach to passive investing in larger deals would also be a way to generate solid returns without the stress of direct ownership.

If you’re looking for actionable next steps:

• Speak with a business broker to explore your options before selling / tapping into your equity.
• Talk to a lender to see what financing and leverage options exist.
• Look into syndications or passive investment opportunities like Denise suggested.
• Join local and online real estate groups to connect with people successfully executing these strategies.

There’s no single “right” answer, but the key is making a decision that keeps your money working for you without locking you into another job. There are so many avenues to generate income in this industry. I would love to hear your thoughts—what approach feels like the best fit for you?

Best,
Jack

@Kishan Purohit

Hey,

You’re absolutely right—mastering underwriting is essential, It's crucial to truly understand the fundamentals. If you don’t establish the right foundation first, you’re just letting the numbers push you around instead of controlling the deal narrative.

I actually built my own underwriting calculator to streamline the qualification process. Instead of wasting time deep-diving into every deal, I use it as a first-pass filter to separate the ones worth pursuing from the ones that don’t make the cut. That way, I’m only underwriting properties that deserve my time and attention.

Happy to compare notes—let me know what you’re using on your end!

@Jake Andronico

Congrats on the deal, Jake! Locking in at a discount like that is a textbook play on patience and striking at the right time. Well done. In Central Florida, we’re seeing similar trends. Sellers who were holding out are starting to adjust, especially for cash or creative terms. In our multifamily ventures, we’ve noticed most buyers we work with don't act on emotion & are quick decision-makers; When a deal makes sense, they move fast. As you know in many real estate deals, the money is made at the buy.

Personally, I'm focused on off-market deals where we can create value.

Curious—how did you frame your offer to get them to drop without hesitation? Always good to trade insights with someone who knows how to work a negotiation.

@Jorge Abreu

The fact that you led with providing value rather than chasing deals speaks volumes about your approach, and it’s inspiring to hear how that mindset has been a game-changer for you.

As for the biggest shift in my own approach—getting crystal clear on my long-term vision helped me stop chasing distractions and start making intentional moves. Rather than just grinding for the next deal, I’ve put more focus on surrounding myself with the right people—those who challenge me, push me to think bigger, and share similar values. It’s been a game-changer in both business and personal growth.

'You make your habits, Your habits make you.'

Your emphasis on strategic networking hits home for me. People want to work with those they trust and respect, and it sounds like you’ve mastered that balance.

With a portfolio your size, I can only imagine how much effort it takes to maintain and nurture those relationships. How do you manage it all without losing the authenticity of those connections? Are there any systems, tools, or strategies you’ve found helpful in keeping everything organized while still keeping things personal?

@Jorge Abreu

I'm shocked that nobody has commented on this post sooner. This is an absolute masterclass in laying the right foundation for multifamily success. I truly appreciate you sharing these takeaways—it’s clear you’ve not only thought this through but lived it.

I took some time to explore your Linktree, Instagram, and the Elevate CIG website—truly impressive work! Your journey from managing single-family homes to co-founding Elevate Commercial Investment Group to assist passive investors is both inspiring and instructive. I also admire your commitment to spending quality time with your family. That too is my 'Why' for getting into the multifamily space.

One thing that really stood out to me from this post were the reverse engineering investment strategies. Early on, I made the mistake of chasing deals without first defining the endgame. Once I got clear on where I wanted to be, every decision became more intentional, and the right opportunities started falling into place.

The emphasis on branding and networking is another game-changer. A lot of investors underestimate how much credibility—and deal flow—you can generate just by consistently putting yourself out there.

I've been trying to 'Share More, Pitch Less'

 I’ve seen firsthand how the right branding attracts the right investors, brokers, and partners, making scaling a lot more efficient.

Curious—when you first started implementing these strategies, which one made the biggest impact on your business?

@Grant Shipman

I appreciate you sharing this—there’s a lot of wisdom here. 
At first, I thought I had to do everything solo, but once I started leveraging partnerships, it completely changed the way I looked at deal-making. Now, my focus is on scaling through syndications and mastering structured capital stacks.

The part about working with investors instead of against them really hits home. Early on, I was locked into a competitive mindset, but once I started collaborating—whether with wholesalers bringing me deals or flippers looking for exit strategies—it became a game-changer and ultimately made me more successful. Now, I see real estate as a team sport, and the right partnerships make all the difference.

And delegation? Couldn’t agree more. I used to think no one could handle things the way I would—until I realized that mindset was just keeping me in the weeds. Now, I’m laser-focused on acquisitions and building the right systems so that the people in my team can execute.

I would love to hear how you structured your first syndication deal—what was the biggest challenge you faced when making that leap?