All Forum Posts by: Jason Ruello

Quote from @Leo R.:

@Jason Ruello a beginner trying to start with STRs is a bit like a beginner skier trying to go down a black diamond (the most advanced terrain). The chances of failure are high because you don't yet have the experience that's required for the strategy...I'm not saying it's IMPOSSIBLE for a beginner to be successful with STRs, I'm just saying that there are simpler RE strategies that are better-suited for beginners. I always suggest starting with the simpler strategy (like house hacking), and then working your way up to the more advanced strategies (like STRs) as you gain experience.

Good luck.

I was starting to think the same way. It may be a bit much to start with. Im trying to figure out which direction I wanna go to get started, so I'm trying to get as much info as possible. I greatly appreciate your reply, thank you. 

Quote from @Mohammed Rahman:

Hey @Jason Ruello - don't feel bad for feeling overwhelmed, it's part of the process. 

You'll find that it's not rocket science to take things step by step. 

My immediate recommendations for you are to: 

- Read a few books on REI, BiggerPockets has soom good ones you can click on LEARN at the top of this page.

- Attend a few local meetups. I'm actually hosting one tonight from 6-8PM if you'd like to swing by, STARBUCKS on Jackson Ave in Long Island City 

Mohammed,  thank you greatly for your reply. I'm trying to figure out which direction I want to take with investing.  I'd love to come. I really don't have anything to offer rn because I don't know anything,  but I want to learn. I will try to get off work early today so that I can come. Do you havebthese meet ups often? If I can't make it tonight I'd like to in the future.  

Quote from @Ruchit Patel:

Have you thought of turnkey investment to start out journey in real estate?

 Thank you very much for replying, Ruchit. I honestly don't really know what turnkey investing is.  Like I said, I'm as new as they come and have ALOT to learn. I'm trying to get a feel and figure out which direction to go. I'm going to look into turnkey. Thank you,  again. I truly appreciate your reply. 

Quote from @Kiera Underwood:

@Jason Ruello I work with a PM team that you can pay ~$6500 - $8500 and they do all the design work, ordering, set up and approval with the city. You also pay for the furnishing as they order. This is in the Oklahoma City market. Are you going to stay focused in NY? 

Since I'm as new as they come, I may start local and then branch out down the road as I learn. I appreciate you replying to my post, I'm just trying to get a feel for this. I honestly don't even know what questions to ask,rn. It feels so overwhelming, but I'm determined to learn... I have to.

 Jaron, thank you. 

I love these forums, genuinely a great way to get advice and Information.  Thanks again. 

Scott, thanks for replying. 

The vacation rental is very appealing to me. I'm not 100% on anything yet, so kinda trying to figure out where to begin. 

Maybe it is to involved to start. None the less I do overthink everything,  so I'll always have to fight that.

I'll put more thought into where to start and try not to paralyze myself with too much info. 

Thank you, Bob. I have a habit of overthinking things. I'll get started on finding a .eating asap. 

First off I still have Alot to learn, so my questions are the most beginner type as possible.  

I think vacation rentals, air bnb/vrbo is where I want to get started.  The more I read, the more I see how much is involved.  When getting a realtor, property Manager, lawyer, etc... This all seems so overwhelming.  Who and/or what are absolutely musts when getting started, and how am I to pay for their service's without consistent money coming In? 

I'm just trying to get an idea of how to move forward. Any and all information will be extremely appreciated.  

Thank you - Jason

@John Alosio, 

So you're saying it's most useful for the new homeowner/landlord with limited connections, correct? And as I progress, learn more, and gain the proper connections- it's then safe to move away from? Do you think it's a good idea to try to negotiate a home warranty into the deal from the seller for an older home? 

Thanks for your reply and help.

Thank You to all who replied, I genuinely appreciate it.

So 5-10% should be a minimum rule of thumb, per se. And depending on the information I receive on the property from the inspection- I can adjust accordingly. 

Also Ben Scott, could you possibly elaborate more on the home warranty?  Is it common? Necessary? Expensive?

Ryan Cleary, I'm in Gravesend Brooklyn, but not necessarily looking to invest in my area. I would like a multifamily to start, but I'm still learning how to analyze deals, so I haven't zeroed in on anything in particular just yet. I'm still in my beginners learning phase, so I'm not quite ready. 

Thanks again, everyone. I'll be sure to post more questions as I progress.