All Forum Posts by: Matt B.

@Nate Hubley Sure, there’s always a way to find capital

@Nate Hubley Great thought process on getting an early start.

I know you said you want to wait until after college but a great way to start, depending on your school is to purchase as "campus housing" and have your roommates pay you rent. This works in a condo, SFH, etc. or even better if you can get a multifamily and bring additional money in.

I know some schools have a lot of on-campus housing but many have a lot of off-campus and this can be a great way to start investing while in college.

@Neil Garceau Neil, let me know if you’re ever available to talk one-on-one, would love to pick your brain, I’ve been looking in Bonnet for a while, spoken to several people there both from BP and live while up there. I’m out of state but have family there and am looking to get a property there in the near future.

@Mitchell Berger I’m a fellow LI’er and also someone who has been looking in the Narragansett area. It’s getting more and more expensive there but there are pockets that can still work. Ive spoken to @Colleen F. in the past, she’s a great resource in the area. Feel free to reach out if you ever want to talk RE either on Long Island or Narragansett.

@Michael Toba.

Hi Michael, Welcome to the site, Stony Brook has cracked down in recent years on illegal apartments and rentals (not to say that is what yours would be) to deal with what they called illegal rooming houses.

I don’t own any rentals there but have looked in the past. I believe all apartments need to be registered there to be legal.

According to the stony brook site:

“A rental dwelling unit is considered legal when it has been inspected by the Chief Building Inspector or a designated employed by the town, and meets all applicable housing, sanitary, building, electrical and fire codes, rules, and regulations. Upon receipt of the approved Inspection Report, the Chief Building Inspector shall issue a rental registration valid for 15 months from the date of issuance of the temporary rental registration.”

I believe Stony Brook is within the town of Brookhaven and they may limit the number of non-related people on your lease. I’m not trying to discourage you, and would love to hear any feedback you get through the process. You may be able to get it, might not but best of luck, let us know how it goes.

@Jeffrey Douglas last year I set a goal of reading (or listening to) 60 books, I hit that and am shooting for 75 this year. A lot of the ones on the list already have been great. One I didn’t see is Jen Sincero... You are a badass... great mindset book on perspective and how to look at and change your circumstances.

@Russ DiGrigoli Where In suffolk County are you? I’m in a similar boat as you but let me know if you ever want to meet up to talk RE.

There’s also a couple RE meetups, one in Bay Shore that I’ve been to before you may want to look in to.

@Zachary Puteri Where are you located?

@Judy Walsh Great job, we've been looking to buy in Narragansett but haven't found one yet. How was it finding the tenants, are you self managing or using PM? Also, how did you work the HELOC, and what bank did you use for it, local?

Good luck in the future with this!

@Rich Rodman any option for switching the tenants I.e. moving the downstairs up and vice versa? Not sure if you can do this or how the set up is but generally the noise (stomping, running, house shaking) in many places tends to travel down more noticably than up.

I would think any soundproofing options would be costly and possibly not as effective as necessary.