All Forum Posts by: Michael Sassone

Also I did a quick search on HUD.Gov I saw you are in Gaithersburg, MD so here's a direct link to the HUD first time home buyers programs available in your city.

https://www.gaithersburgmd.gov...

And this is the link directly to Maryland homebuying programs as a whole.

https://www.hud.gov/states/mar...

 Those are all great questions to ask! Check out this blog post I wrote after buying my first home. First Time Home Buyers Guide to the Galaxy. It outlines my entire experience as a first time home buyer from start to finish from: figuring out finances and how much I could afford, to using mortgage calculators, negotiating with lenders, choosing an agent, etc. There are links and references to HUD's website to see what First Time Home Buyer programs are available in your area (I tell you how to navigate the website to find the info you need).

Hopefully that blog post will help you generate questions.

My biggest piece of advice is don't settle for less. Ask your agent a plethora of questions too not just the lenders. Make sure the agent you get is really there for YOU. We have fiduciary responsibilities and a code of ethics but a lot of agents aren't really there to find you the best deal instead of themselves the best commission. It's unfortunate but true (I went through 3 agents before finding the one that sold me my home). My first time home buying experience was atrocious but that doesn't mean yours has to be. 

If you have any questions please feel free to reach out!

Mark, were you able to find an agent? I can assist if you haven't yet. Please let me know!

Have you thought about trying to get an FHA loan and house hack a quadplex (i throw quadplex out there speaking in generalizations, it doesn't have to be a quad)? FHA only requires 3.5% down and you have to live in one of the units for one year as your primary residence. I think this may be a better alternative for you and what you're trying to do.

Even though interest rates are up maybe a lesser downpayment and having 3 extra units to rent will tip the scales in your favor? I could help you work the numbers if you'd like and maybe help you figure out a plan/strategy....Feel free to message me! My advice/help is free

 Good morning Charles, 

I personally haven't gotten into the business yet but am working at it. However my father has great success purchasing foreclosures and fixing and flipping/renting them out. Not sure if you've heard of his company or seen his truck but Sassone Carpentry is his business. 

I did a quick search for you and there are HUNDREDS of preforeclosures on Long Island. 

Do you have time sometime this week for a quick call? I think I may be able to work something out where I can help you find good deals. 

You can see my availability using this link: 

https://calendly.com/michael-sassone/30min

Also I attached a screen shot so you can see what I see for Long Island (Ignore the million dollar listing on the side there.)

 Thanks! Will definitely check that out!

I'd suggest researching the different ways of investing in real estate and pick the one that appeals to you best. Then from there come up with a strategy that will create small stepping stones to get you to where you want to be. 

You said you don't have a lot of cash but you have $100k in equity..... you have $100k available to you right there as long as your credit is in good standing and have a stable job. 

Converting your basement is a good idea but could pose a bunch of different issues that you need to make sure you're comfortable with. Do you really want someone else living in your basement? Consider having to deal with tenants and their guests.. do you have kids? Are they going to disrupt your tenants? I'm not saying rule it out but definitely things to consider that I didn't see posted above.

You're options are limitless especially with $100k in equity.... My father is big into investing in real estate and I'm beginning to get my feet wet with it and will find myself in your shoes soon. I've concluded an Airbnb is my best bet to do what I want to do. I'm currently renovating my house myself to get it reappraised and build equity quick. I plan to purchase an AIRBNB because it's faster return on investment albeit higher risk... Being that I'll be 32 this year I don't mind taking a little more risk to jump start my portfolio. 

You could also use your equity to BRRR where you kind of get the best of both worlds but you'd be best suited finding a foreclosure to get a better deal.

Your question is multi faceted and need some serious thought outside of the fast responses you received and careful planning. 

I hope this helps! Feel free to reach out and message me privately.

I've been researching this for a while and I found the only way was to find an investor friendly real estate agent who is already paying for those services which is why I got my Real Estate Agent license. 

I am a new agent in Maryland affiliated with Long & Foster. I have a subscription to a foreclosure site and can see other states outside of Maryland if I can be of any help please let me know. Would love to assist you in finding deals! 

Also I see you're from Long Island... Are you in the Buroughs, Nassau, or Suffolk? I grew up in Suffolk, Smithtown is my hometown.

Hello my name is Michael Sassone, I grew up doing home improvement with my father but was steered towards a career as a mariner. I currently transport cargo internationally but I am trying to break away from having to devote 8 months a year to being at sea and away from family. 

In my pursuit to get out of the shipping industry I obtained my real estate agent license in Maryland and am affiliated with Long & Foster.

I am hoping to help investors find deals as well as residential home buyers and sellers fulfill their transactions and eventually build my real estate investment portfolio. I also have my Military Relocation Professional certification to help active duty members with PCSing. 

If you have advice or want to chat about my endeavors and benefit from my services as an agent please do not hesitate to reach out!