All Forum Posts by: Jesse Doyle

@Mark Updegraff  @Dave Savage  @Adam Johnson Sounds good guys I appreciate the assistance I will put one property up that is personally appealing. 8 unit apartment building , separate electric, estimated monthly rent for 750 to hit to 2% rule yet there is room to charge more in this specific neighborhood near park ave. after a quick estimate utilizing the 2% and 50% rules I would be left with a monthly net cash flow of $1,500 and that is if the mortgage costs 1500/month and we get the property for 300k. What do you guys think? http://www.loopnet.com/Listing/18071281/294-Meigs-Street-Rochester-NY/

@Dave Savage thank you very much this is some great info and I am currently re analyzing my specific goals at the moment to try and find the best route. I am motivated to learn,buy,sell,rent,fix whatever it takes to become a successful real estate investor and financially free. 

     Whats up Rochester Bigger Pockets members! I have been finding golden opportunities to purchase multi-family rental properties in desirable neighborhoods throughout Rochester, including Park Ave. and East Ave. The only issue with that is, I am currently out of country for work and I hate seeing these deals pass me by! 

     If there is anyone out there currently opperating in these areas i would love to connect and network with you through BP in hopes to gain a different persepctive on these areas that I cannot do myself over the computer. I am a huge fan of Pros and cons giving me further in depth viable information to base my searches off of, so if you could....Help a brother out!

@Joseph Ball Thanks for the incouragement! I appreciate the wisdom.

@Dave Gallo Thank you, that is good to know. Makes sense since they want to know your cababilities. Hopefully the 4 plex could bring in enough cash flow to hire a single person property manager and allow you to go through with the VA loan.

@Guy M. Thank you very much that actually answers another question i had, being able to open up the lines of credit on purchased rentals will allow me to roll-over into other deals efficiently without needing or limiting my need to use personal capital. Thnaks again on the insight it is very helpful!

@Elizabeth Colegrove Thank you! @Joe Cayse see above.

Thanks for the insight @Joe Cayse VA loans can be used on live-in Multi-family properties right?

@Guy M. Thanks for the reply! This does seem to be the most logical approach to getting started, so i completely agree. How much of my liquid 50K would you suggest using for down payment etc. with my goal being positive and progressive cash flow it would seem to me that the highest down payment would be the best, allowing me to recieve a lower mortgage and higher cash flow. But on the flip side to this it would limit pulling the trigger on deals to follow if i do not have sufficient capital. What do you think?

What's up BP! I am sort of at a crossroads when it comes to deciding where to start when making my first buy. So many options appeal to me such as Multi-Family rentals, Flips, and also going in with a partner on large 10+ unit apartment buildings. I will be getting out of the Marines in about 9 months and will have around 50k liquid to begin investing with. I am just curious with everyones past successors when they first got started, along with their opinions on the pros and cons of each option for your first buy. Thanks for the help! Also i plan to make this my full time job and do not plan on getting a 9-5 when i get out.