All Forum Posts by: James Masotti

@Philip Marzen - Definitely depends on the area. All my properties are in Wilmington and I'd be happy to take a look and see if I'm interested. I also own a property management company in Wilmington, so if you're also open to keeping then and looking for a management company I'd be happy to discuss. 

@Sean Bayliss lives in NE PA and invests in Schenectady/Albany county area. So I wouldn't say that your state is too expensive. Just take a look outside the NYC/LI metro area in NY. Alternatively yes you could certainly look out of state. Whether or not you should move to invest out of state would depending on your current and future income opportunities. If you're living in Manhattan and work full-time on a remote basis, than certainly moving to a lower cost of living place could help if it wouldn't negatively impact your earning potential and could accelerate your entry into investing. On the other hand if you'd have to find a job in an industry that doesn't exist in Ohio for example, than it may not be wise to relocate. Feel free to share some more facts about your situation and perhaps we could share more specific opinions on your options. 

@Buyan Thyagarajan - What about this approach is appealing to you? 4-5 partner is a lot of people to be principles in a company. That's a complicated thing to navigate. Unless you have an operating agreement stating only one or two have management authority an the others are more just capital partners. But since you mentioned everyone making equal contributions I'm not thinking that's the case. 

@Blaine Brown - Perhaps once all this Corona craziness is over you could meet up with @Andy Hathaway to chat about what you're doing?

@Shawn Kostoff - Well done sir! I think as we go into this next market cycle there's going to be more seller financing opportunities coming up. 

@Austin Jay Toniolo - Have you called the responsible zoning person and asking them what you would be required to do? Rather than getting feedback on here from someone that isn't in your specific area may not be super helpful if you analyze the deal, go take action, and then later find out it doesn't mean the zoning requirements.Once you know what the actual zoning requirements are you might be able to get better feedback on what a scope of work and possible budget would look like. 

@Niyi Odumosu - Best of luck to you sir! Lots of phenomenal resources here on BP so don't be afraid to leverage them. 

@Jonathon N. - For a fun read you can learn about my first BRRRR in Wilmington at the link below :-D All the best and much success in your future!

https://www.biggerpockets.com/forums/522/topics/283338-first-rental-acquisition-since-joining-bp?page=1

Well done @Brandon Ropp. Wishing you the best of success as you work toward the much less sexy part of the job now...renting it out, refinancing it and then managing it. 

Dan - Probably best to set the event up here on BiggerPockets that way more people are able to find it and get alerts about it.