All Forum Posts by: Matthew Smocovich

@Oleg Shalumov thanks for the input. That definitely makes sense. Not sure that I’ll have the cash to fund a 4plex but doesn’t hurt to try!

@Eric Del Gizzo makes sense. Seems like we might have to go outside our preferred area of interests. Thanks for your input, good luck to you!

@Eugene Molisso no worries and will do. Hopefully I can send an update with some positive news in the next month or 2!

@Eugene M. Thanks for the response. My "why" has a couple of reasons; breaking into RE at a lost cost and saving my income rather than spending on NYC rents. I currently live and work in NYC, thus the reason i'm looking for a property in the near vicinity.

Most of the places I've been looking at are within a 1 hour commute (something i'd ideally like to maintain). Also, i'll most likely being living alone, so the rent a room/basement/airbnb are great options that i'll take into consideration.

What you're saying makes a lot of sense. Thanks for the input, really appreciate the help and support here! 

@Steve Orluski

Thanks Steve. Yes, definitely realizing it’s a hot market after all these last couple of weeks. Any advice on how to move forward?

Hi BP,

Newbie here trying to house-hack his way into real estate investing. For background, my lease is up in July and I’d ideally like to have a property purchased and in my possession at that time. Does the timing seem doable?

I’m fully qualified for a mortgage and have a realtor that I’m working with, specifically in the Hudson County and Bergen County areas outside NYC.

I’ve been analyzing at least 15 deals a day, with cash flows consistently in the negatives. Usually within -$500 to -$1000.

Levers: 5% vacancy, 3% capital inv, 3% util, 3% leasing costs, 8% property management, and another 3% to account for PMI.

Purchase price is ideally within the range of $300-$400k.

I can’t figure out if I’m going about this in the wrong way so any advice would be much appreciated!!

Thank you,

Matt Smocovich

Hi BP,

Newbie here trying to house-hack his way into real estate investing. For background, my lease is up in July and I’d ideally like to have a property purchased and in my possession at that time. Does the timing seem doable?

I’m fully qualified for a mortgage and have a realtor that I’m working with, specifically in the Hudson County and Bergen County areas outside NYC.

I’ve been analyzing at least 15 deals a day, with cash flows consistently in the negatives. Usually within -$500 to -$1000.

Levers: 5% vacancy, 3% capital inv, 3% util, 3% leasing costs, 8% property management, and another 3% to account for PMI.

Purchase price is ideally within the range of $300-$400k.

I can’t figure out if I’m going about this in the wrong way so any advice would be much appreciated!!

Thank you,

Matt Smocovich