All Forum Posts by: Jason Appel

Hi All,

My Landlord is offering to sell me the apartment I'm in now. I Need help running numbers on the apartment, in order to see if it'll cash flow when I would move in (within a few years) 

Has anybody done this and found success? 

Just a few thoughts:

1)Rents, as well as all of the expenses may increase in the future, how can I calculate a correct number?

2) Because I'd living in the apartment for the first couple of years as the "Owner", I don't need to worry about Cash Flow, more just that my Overall Cost of the apartment is cheaper than my current rent.

Anybody who has experience with this, please reach out. It's greatly appreciated.

Stay safe,

Jason

@Mike McCarthy

What factors led you to regret purchasing the place you were renting?

@Aaron K. great starting questions. I will set up a call with him to discuss.

@Jody Roussel: 

. In regards to equity, a co op is viewed as personal property and not real estate.

-What do you mean by this exactly?

also take into consideration down payment and closing cost, a median going price seems to be upwards of 200k for 2bd apt in ny. COH would need to be between 42-44k.

-What is the 42-44K referring to?

Hi all,

My landlord gave me a call this morning to potentially offer to sell me the current apartment I am living in. I do not own any real estate and this would be my first time owning RE. While I’m saving up for my first rental, and the idea of us buying this apartment as a primary residence, maybe the idea of building some equity, rather than just renting is a solid option? I’m curious what others think, and maybe some advice people can give me about first time ownership and potentially using this to grow equity and eventually moving out and using as a rental. I’m all ears.

Thanks,

Jason

Very True. Thank you

@Filipe Pereira

Thanks for the ideas. In terms of liability, will those people hire for free with the increased liability if I got injured? 

Hi all,

Given the uncertain times during this COVID-19 pandemic, I am trying to think of some creative strategies and opportunities on how to gain valuable experience any investing world, mainly centered about buying and holding small multi family properties.

These can be both hands on opportunities, as well as something simpler like reading and deal analysis.

If it’s something more hands on, any tips on how to go about finding these places of opportunity, or ideas on WHAT TO DO, would be greatly appreciated.

Thank you.

Stay safe,

Jason

Hi All,

I hope you are doing well and staying safe during this time.

While I'm using this time to gain knowledge and talk to people more experienced than I am, I occasionally feel growing concerns about moving forward through any uncertainties. Being that I am looking to acquire my first investment this year, with that comes excitement and fear. How do you handle this mix of emotion? I am not naive and know that there will ALWAYS be something new to learn, but I feel as though I am at a point where I feel comfortable enough to take those next steps. On the other hand, I have that fear in the back of my mind that something will go wrong and I won't have the experience to properly handle it. Any advice about movie passed those fears would be greatly appreciated.

TIA,

Jason

Hi All,

I hope you are all doing well and staying safe.

I know the idea that you don’t need lots of money to make money, but as I’m reading and researching more about different investment opportunities, I began to think: How much money do I REALLY need to begin?

Of course, you need to have the money for a down payment (either your $ or OPM), but my main question is, how much do you need to have in reserves? I properly allocate a percentage of the overall rent to expenses like CapEx, vacancy etc, but on top of that, how much should you have set aside in order to sufficiently cover any unexpected expenses.

Any hell would be greatly appreciated.

Best,

Jason

Hi All,

I hope you are doing well and staying safe during this unprecedented time. 

I has been using this time to try and finalize my criteria down to the specifics. In this search, I have a few questions I was hoping some of you can answer for me.

1. when researching a potential market, what websites do people use in order to see the appreciating areas, crime rates, schooling, shopping etc?

2. When trying to generate leads, how do YOU find your leads? If with an agent, what approaches can you take to ensure your agent is one who is good for an investor?

3. In using county websites/ finding names of homeowners: what ways can I improve my searches for the names of the homeowners. and how can I tell if they own it "free and clear." What keywords should I look for when I am looking up this information?

4. Are there resources to accurately assess the vacancy rate of a city?

Thank you in advance for all for your help!

Stay safe and healthy,

Jason