All Forum Posts by: Michael Stanley Nino

@Omar Khan Thanks Mr. Khan! Noted. I was given a bad deal by a real estate agent and wanted to Express my disinterest through a spreadsheet. They did provide good service though.

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@Courtney M. Thanks! I'll look into that. I could use some friendly advice, even on a deal if I find out and analyze it closely.

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@Jane A. Stock market is more like gambling on hoping that your stock improves in my opinion. It's more so for people with the money to invest in it and let it sit there. I think real estate is perfect because you own the property and could always either sell it in the future or let it sit and let equity grow over the years. Sure it's also a risk if you have bad tenants or the place catches fire but I feel it's a risk worth taking instead of watching your money suddenly either vanish or jump up.

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Especially if it's a bad deal. Do you show them the spreadsheet showing that it won't be beneficial to you? Not sure if it's a disrespectful thing considering I want to continue getting listings in the area. I'd say it's more damaging if you show a pro spreadsheet to them that puts more money in your pocket. They are representing the client who wants to sell the house after all, right?

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Originally posted by @Hadar Orkibi:

Yes I recon...@Jordan Moorhead referrals is a good way to start for team building!

Ill connect over to him and ask some questions! Thanks!

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Originally posted by @Blair Poelman:

@Michael Stanley Nino Investing from a distance is not terribly complicated, however it does require some travel and some hands-on activity.

It's completely feasible to achieve enormous levels of success investing out of state - but keep in mind that when you get involved in a deal that is not local you're losing some control, and your visibility & oversight of the deal is dramatically diminished.

Unless you're buying a turn key or getting into a PPM or some other commercial investment vehicle with a group that is managed and regulated, you may want to consider keeping it local until you've gained the experience and knowledge, and developed the out of state relationships necessary to be successful from a distance.

As good as investing locally sounds, 40k won't do anything in New York. The best I could do here is get a duplex and have my tenant help paying mortgage but at the end of the day Ill be paying quite a bit for property. I could start there but maybe saving up for a higher downpayment out of state is a better investment. I dont know to much about out of state investing but I will try and learn a bit from researching and hopefully networking out to people who starting out investing out of state and has done very well.

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Originally posted by @Raul R.:

@Michael Stanley Nino Having 40k for a downpayment is a great start but remember for a conventional loan banks will look at Credit Score , reserves as well.. If you have a HELOC or 401K it will help.. I like the Florida market and explored some cities in FL when deciding to invest out of state, Florida you need to pay close attention to Insurance prices depending where in FL you invest can be a major expense.. I love the coast and beaches but I wouldn’t invest next to the coast especially being Out of State. I’m in the Carolinas and although the last storm did a lot of damage my properties were fine because they are all inland no where close to any rivers or coast..

Well I have a pension does that count? Im in a union with a retirement fund. I will keep that in mind when investing near a body of water, I'm sure there is some kind of insurance to cover hurricane damage?

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Originally posted by @Jane A.:

@Michael Stanley Nino

what ROI are you looking for?

I'm looking at anything above 8% ROI. I wouldn't make any deal if it was below it.

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Originally posted by @Hadar Orkibi:

@Michael Stanley Nino you can do passive investing like @Tyler Kastelberg suggested or learn how to do it yourself.

Its really a matter of choice and if you have the time to do it or not....

David Green have a great book about long distance investing.

https://www.biggerpockets.com/store/long-distance-...

Its double, Im investing in the US from New Zealand!!

Haha yeah I actually already have the book on the way! I hope to read it as soon as it comes i'm very excited about it.

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@Tyler Kastelberg I'll look into it and contact Omar. I'd like to start strong but I also want to own my own property eventually.

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All Forum Posts by: Michael Stanley Nino

Michael Stanley Nino has started 3 posts and replied 22 times.

Post: Do you show your spreadsheets to your real estate agent?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?

Post: Do you show your spreadsheets to your real estate agent?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?

Post: How do you go about investing out of state?