All Forum Posts by: Juan Pichardo

@Taylor L. Thank you for your quick respond. 

1) I guess when I start to have more than 5 properties I will move them to an Entities. I will continue just to buy it under my name.

2) Is there a certain way how you look up those things when you trying to invest into a area.? Do I pay a website to get these type of information? I was also thinking of hiring a Property Management company to manage my property.

As far as exhausting all my options nearby.... I will say no but I am not sure where to start. Things are super expensive in NY. Like I been on realtor.com/Zillow.com/ etc. But I guess I will just need to keep on calling or looking. I eventually would come across something. I don't know if I should find a "deal" or apply for a loan plus keep saving more to add to the 30k give or take I already have.

Again thank you for your respond and advice.

Im really trying to start my business in Real Estate. Its just so hard to take that first step and so many different opinions. I need some advice.

1) Should I buy the house under a business name or Just my name?

2) How can I gauge if a area is a good area to buy or not?

I have saved up some money around 30k give or take. I want to invested into a property in another state because the down payment is doable ( Because I already own one property) the property in that other state just got renovated. The property is selling for 69k. Its rented right now for $825 a month. Does this sound like a good deal? Need some input. 

Hey @Jaysen Medhurst,

Thanks for the information. But if i keep everything the same as far as loan and rent. It still make no sense to rent it?

Hey @Anthony Dooley,

Great information. I will be living at my parents house - not inquiring any more expensive (maybe less) than what I have now. This was already talked about the plan and i am getting great support! I’m still doing the math on it. I feel is the right move. But hesitant about the move.

Thanks @Wayne Brooks . I appreciate you!! I will look into that. Love the input!

Hey @Anthony Dooley,

Well I did and maybe I’m not understanding what it really means. I think I do but that’s why I’m here like a rookie like a lot of everyone else. Hopefully I can meet and get some input of some nice investor or just nice ppl that like to share their experiences and knowledge. Thanks for your input.

Hey @Michele Wax,

Thank you. No I am not close to nothing. Still got over 20 year on the mortgage.

Hey @Jaysen Medhurst ,

Maybe I’m not educated enough. But I have 2 apartments. The main part of the house and the downstairs. I’m not sure how much my house is worth. I rent downstairs for $1400 & where I stay I can probably get anywhere from 2k-2500 maybe 2700. After deducting utilities split that I’m thinking of/insurance/mortgage looks like close to 15k or less. I think my house is worth over 390k.

But should I rent the rest of the house or try to buy another house. What’s your advice?

Of the bat I'm a newbie, I been wanting to start in real estate for years but for some reason I haven't. I set a goal for myself that in 5 years I want to be able to quit my well paying job if I want to( not that I will). I also want to be bake to retire by the time I'm 50(I'm 36)I have a house I own & got some equity built up. I have a family of 4 including myself. My question is should I rent out my house for about a year or so. Or should I just try to buy another house. If I rent this house the cash flow is about more or less 15-20k a year. So it's crazy to me that I am technically losing that much money a year per say. I also bought this house with a VA loan. Thinking about converting it into a FHA loan so I can use my VA loan later on. Need some input! I'm super hesitant in what direction to go. I will go in one eventually I know that for sure!Thank you so much for the input everyone.