All Forum Posts by: Mike Sfera

For example lets say my budget is 100k for the down payment and the work.  During the work i konw that there wont be any rent.  So, my budget then would have to take into account the rent i wont be receiving and i'll be paying the mortgate and expenses out of pocket.

As somebody new to REI, what is the best way to handle rent lost when buying a fixer upper during the work? Do you get a contractor in before making an offer/after, get an estimate on the work and time and then deduct the lost rent (making an assumption on what you can rent it for) from your overall budget?

I'm in New York but the prices (at least downstate) are much too high for me to make my first deal so looking more upstate and out of state.

anybody have opinion on Syracuse/Rochester?  Lots of older houses but there seem to be several that have the potential for cash flow and while not exactly modern on the outside, have been renovated inside.  Potential for students, etc.  

@Blake Clothier are management companies turnkey providers or is that a company that specializes in those services?  How much do they charge?

Hi all, looking to get into real estate investing for cash flow and appreciation with my wife.  Looking to learn as much as we can and build our network.

Right now I'm just looking at properties all over the place learning how to analyze a property etc but as somebody that is looking to make their first investment, i want to avoid if possible the extra outlays that can potentially come with an older house.  its kind of a trade off because i can get a newer property at a higher price and down payment, or get something older, less down and then use that money to fix what i need to fix.  Comes down analyzing what makes more sense for a given house i suppose.  i am NOT looking to flip...in this for cash flow and long term appreciation (hopefully)

do you guys prefer to only invest in newer homes  i.e. built after a certain year to reduce the possibility of having to do a lot of reno on wiring, plumbing, etc. or does it just depend on seeing the house and determining the condition that its in?

for a duplex, is the BP rent estimate for per unit of combined?