All Forum Posts by: Michael Delgado

Hey all,

I am looking for some advice as to what to do. We are looking to start our real estate journey and hopefully own enough doors to retire early. Me and my wife are 41 and have access to roughly 500k in assets such as stocks that we would like to shift towards our housing journey. We both are teachers in NYC so even if we retire early we will have a decent pension as part of our income. My question is... where would you begin? We would love to be in driving distance for our first property but realize that anything drivable from NYC isn't the best ROI. Is there a market that anyone suggests for growth and or decent roi not in the NYC area? I see people mention areas of Ohio, Texas, and Florida. Also, would you do single family homes or multi?

I have been a long time lurker and love the wealth of info you all provide and finally looking to jump into it.

Thanks a bunch,

Mike

Hi all,

I had a few questions and thought maybe someone can guide me. Me and three of my buddies have decided that we will be buying as a team a house for student housing.  This is all our first house.  So, we are all new to this.  We will each be 25% partners.  We have all agreed to equally share the downpayment.  Here are a few questions I have.

1.  Any websites that have sample co-investing contract templates?

2. Should we form an LLC?

3. Is it ok if only one person holds the mortgage?

4. Should we each create our own company as well (for tax purposes and possible business credit)?

Our plan is to keep buying student houses as time goes on if all works out.  We have also agreed that if someone wants to go out and do their own investing on another project down the road they can without the other parties.

Thank you all so much for any guidance that you may have,

Mike

@Shawn Ackerman I have extremely high utilization. Like over 90%. That’s what’s really effecting my score. I have no late payments or missed payments. I guess if I pay it down and just wait a couple years to save may be the right move. Gonna take a while to save 20% for a property.

I just saw this same exact question in another post.  Ill look to there for the info.  Thanks all

Hi all,

I am 39 years old and currently living in NYC.  I am looking to jump into my first rental property... of course, outside of NYC.  I currently have a credit score in the low to mid 6s and have roughly 25k in unsecured debt.  My question is, should I pay down my debt to increase my credit score and debt to credit ratio or should I get the rental property investment train moving since I am pushing 40 lol.

Thanks all,

Mike

man.... i missed it.  If you ever do another one I am def someone interested in investing in my first property in Philly and I currently live in NYC.

Hey all,

First time on here and hoping this becomes the start of something big for me and all of us. I have been looking to buy my first rental property but I am starting out with little money down and live in NYC. I am looking to buy within driving distance from NYC but obviously NYC is out of the question right now. Anyone have experience with any areas outside of NYC? Maybe in PA, NJ, CT? Thanks all, Mike