All Forum Posts by: Joshua Mellor

@Kimberly Kesterke this is a great post and it comes at a perfect time for me as i’ve been searching realtor.com and Zillow for property the past 4 months without finding a deal that fit me. My goal this year is to get 2 properties that will cash flow within 1/2 hour drive from my primary residence. Again thank you for the informative post.

@Joe Liu my area in upstate New York has that but the taxes are high still there is money to be made. Rochester NY has that also, I’m looking about getting into that area but there is a lot of change from neighborhood to neighborhood so just started to look at property there.

@Uju Anyanwu

Craigslist has always been really good for my rental. It may be worth having the realtor place a tenant there if the unit is sitting empty. It sounds like you would be willing to do a first month free anyway so why not give that to a realtor who you can build a relationship with for future deals.

@Alexia Ned-Sowell I believe that the absentee list is for properties that are owned by people not, living on the premises such as rental property. That is not to say that the list is bad maybe 1 or 2 of those properties would like to sell but just haven’t acted on it yet and you could be the one to push them in that direction.

@Lukas Zupan I kind of fell into my first rental property a friends mother was selling it so I bought it for my first residence knowing the other tenants would help pay the mortgage.  My thoughts at thought point was to just have tenants pay mortgage and eventually sell the home when I retire as a 401k that I wouldn’t have to pay into.  Unfortunately I never thought of it as a business till recently as I have always been pretty happy in my job.  Now I see what real estate investments can do for people.  I have actually been pretty lucky with my rental property with out having to put to much into it time or money compared to what I have gained.  I also never split up the income I earned from my rental and used it for my lifestyle instead of saving and purchasing more property.  Anyway that is the past I have now separated the real estate income and will be investing in the near future.  I just wish I didn’t waste as much time as I have but I can’t go back in time, so it’s best to look forward.

@Lukas Zupan

I was just buying my second home a single family home that I still live in. My first home was a triplex both of with I bought with no money down. From there I stopped real estate investing “huge mistake”. Now I am just getting back into it and would like to buy 1 or 2 properties by 2021. Both those houses I still own today.

@Raza Dhanji

Great job!

@Aqil Dharamsey I’m just wondering where in rochester as I live in canandaigua and have been thinking of investing in rochester real estate. I work in Greece so I know that area a little, but not to comfortable within the city.

I have actually owned it for 15 years. My original goal was just to have it pay for itself and make a little bit of money per month which I just used for other bills. I know time wasted when i could have been maximizing profits. Today my goals have changed and I am thinking of a cash out refinance to buy more property and build from here. The other 2 apartments in there rent for more money and if Im serious about growing my portfolio its time to do what is right business wise. I will be sending the notice of the rent increase this week and if the tenant moves then i will fixing the apartment to rent to someone else at market rate.

I have actually owned it for 15 years.  My original goal was just to have it pay for itself and make a little bit of money per month which I just used for other bills.  I know time wasted when i could have been maximizing profits.  Today my goals have changed and I am thinking of a cash out refinance to buy more property and build from here.  The other 2 apartments in there rent for more money and if Im serious about growing my portfolio its time to do what is right business wise.  I will be sending the notice of the rent increase this week and if the tenant moves then i will fixing the apartment to rent to someone else at market rate.