All Forum Posts by: Jonathan Vargas

Thanks! Nope you haven’t misinterpreted my question at all. Any insight is much appreciated. 

Cool thanks! 

Howdy, Everyone! hope all is well. So here I am at the beginning of my Real Estate Investing journey. I got a 100 Property analysis is 30 days personal challenge going on while im working in my 9-5. I see myself going the STR route and i watched a video on the bigger pockets YT Channel and they mentioned something about Master Leasing and helping new developments reaching 100% or close to it occupancy.

A thought came to mind, here i am building this new luxury project in the Bronx, and there are people moving in as we turn over the apartments which i find interesting in it self as the project is nowhere near finish i project maybe it would be done in the next two years but anyhow. How would someone go about working in a master lease deal for this brand new property? 

Second thing was Is there anyone who already doing it? As i am working here during the day it would be really awesome if i could assist or learn shadow after hours or something. I see it as a great learning opportunity. 

Any insight would be great and this is purely hypothetical and I’m not trying to advertise for property as they are clearly doing a great job on their as people are moving in before it even finished 😂 

Wish Everyone the best on their journey!

Yeah, the Luxury Tax of NJ/NYC is something. So you are saying if i move the the loan amount slider to 75% (lowering the LTV by putting more money down) at its current purchase price, it cash flows better and it becomes a better deal?

 Yes! You are so Right I didn’t stop to think a change in career would reset my proof of income. Good catch! Thanks

So im here running numbers working my way up to my 100 calculations in 30days challenge got going on but I believe I might be doing something wrong. I did three so far and 2 of the three got practically reverse CoC I find that strange and they are two different properties in different neighborhoods in Jersey city.
Note: i put a round number in for Insurance for now as its late Ill ask around later for a more accurate number and I set CapEx and Vacancy and such @5% is that a conservative number or i should be thinking more?

Here they are

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

I haven’t done any analysis is three years and i want to make sure im not setting myself up to make 100 “wrong” ones
Any help would be much appreciated. 

Hey everyone, Im Jon

Im very new to the real estate and I am looking to learn as much as I can. I reside in Elizabeth, NJ area. I am highly interested in house hacking my way into my first home.

Im a full-time construction worker and NYC Real Estate agent as of last week. I got pro with the intention to analyze one deal per day from here on. I have 191 days 11 hours and 24 mins as im writing this post before i burn the boats and take the island (quit my job and go full time self employed). I understand I NEED to eliminate my biggest living expense which is renting. I’m currently renting a 2 bed flat for 1315 a month in Elizabethport and i want to house hack in Jersey City or in that first island of Jersey to be closer to work in NYC. I also understand the safest bet is find a property where i can handle the mortgage by myself if need be.

As i look and see the average payment at double where I'm currently at. I think I wouldn’t find anything near where I’m at, so I’m asking for guidance.

I’m building my credit,

And don’t have the money, I know that these are not deal killers for getting into Real Estate so I'm not worried.

I guess im looking for someone who took a similar path to compare notes with.

Thanks in advance

The self managing was my first thought being that the property is across the street from me and i have 7yrs construction exp as a plumber/welder building luxury high rises in NYC, i plan on using the formula from the A, B, C's of real estate by Ken McElroy has anyone read and used that book in their REI?

No I'm not sure if that's what it needs, that number is a average put in place from the how to analyze property video. It unrealistic to think it doesn't need repairs, i plan to use real numbers if i decide to actual decided to take the next step