All Forum Posts by: Jason Lee

Thank you everyone for your replies. It is quite hard to get started locally because I live in NYC. I really have to look harder at other markets. Although NYC is great at filling homes, it is so hard to get to that level with the amount of money you need to start with. I'll have to go back to the drawing board and come up with different ideas and plans I guess. Once again, thanks everyone!

http://www.biggerpockets.com/properties/13950-14-roi-on-this-duplex

I am a complete newbie but from what everything turns out to say, I sit on my butt and collect around $880 every month? Is this too good to be true? I hear a lot of property management horror stories but I really can not grasp the idea that it is too good? 14% ROI is high, no? Please send me some feedback! I'll try to contact the property management team also.

Also, if it is good, what are the outlooks on Tampa being a good place to invest in? I am young in this game of real estate but any hints (I know some of your investment secrets are just that, secrets) would be much appreciated!

Thanks everyone for responding and your advice! I am looking into single family homes in Texas. Not sure which city/neighborhood would be easiest to start off on though. Trying to read through reports where job growth is strongest but I'm coming up with mixed results.

Just a REALLY rough sketch in my head, if I say I could find a house for around 50k, pay someone to fix it up for an additional 10k (60k total), then according to the 2%/50% rule, I should be charging a family 1.2k to 1.5k a month? I know the risk for out of state investments but GOD DAMN is NYC hard to start obtaining passive income. Too many things have to line up for NYC to be remotely profitable.

I really like the outlook for Texas' market. I'd like to start there. Since it is out of state for me, would a buy and hold be too risky?

Hello everyone! Quick background, I'm 22 years old with a strong drive to help my family out with early retirement. I'm from NYC but I doubt I will be investing there. I currently own and live in a 2 family house. We rent out one floor to tenants but that is as far as my real estate experience goes.

In terms of money to invest, my parents would lend me $100,000 or a little more to get my foot in the door to this opportunity. I am VERY new at this so a point in the right direction would help. I'm trying to research and analyze everything so far but I have to admit, this isn't easy.

Passive income would be ideal but making a relatively "quick" 15k to 25k flipping a house net profit in a few months would be awesome too! I am blessed to have no student loans, a decent job and the money to invest. Any help or suggestions would do! I don't mind traveling if that is what it takes to make it in this game.