All Forum Posts by: Mike Blais

Hey Everyone, 

I'm pretty new to all of this still and have been listening/reading BP for about a month now. What I am a little confused about is how people with little cash can afford to buy and hold. If you spend a large percentage of your cash on a down payment for a buy and hold property that might cash flow $300/month, it could take years to save enough money to have a down payment for another buy and hold property? Am I missing something? Has this topic been covered in BP before? 

Sebastian, 

The kitched appliances look quite outdated and the hardwood floors do look like they would need to be refinished. I'm see other rentals in the area that are available for less than $1200 and some that are more and haven't been rented so I am skeptical of that as well. 

Hi Everyone, 

My realtor sent me over an opportunity in Albany, NY. I'm analyzing some properties currently that could be my first deal. My initial feeling is this is just around a 1% deal and its quite expensive for the amount of cash flow that comes with it. I appreciate anyone else's thoughts. 

Style: 2 Family 

Price: $235,000

Taxes: $7,100

Estimated monthly rent: $1,200 each apartment. ($2,400 Total)

I would owner occupy most likely and my feeling is that I would want to put some work into the kitchen for me to want to live there. 

Thank you !

Mike 

p.s. if there is anything else I should put in here when asking for help, please let me know so I can improve my posts for the future

Thank you! I have already started listening to the podcasts this morning. I'll definitely take a look at the store. 

Hi everyone, 

My name is Mike and I'm from Albany,NY. I'm very new to REI and I don't have a large amount of money to start with. Any beginner tips ?

Thanks and I look forward to learning from you all.

Mike