All Forum Posts by: Marlon Perez

@Robert Lum That is golden insight man. I'm going to research those development plans and mark price tags around that area. Where do you currently invest?

As a new investor, one of the biggest fears of diving in the real estate pool is the fear of drowning. The more I hear about life preservers (LLC), the safer it feels to go past the 4ft marker.

I could really use the help of those who do hold a LLC for their investments properties. Is it smart to form one in my home state or should I venture out for tax breaks?

I agree, using cap rates are a good way of comparing value on investment properties.

My only two tax cal sources are Zillow and Trulia, which are flawed. I'll keep you in mind as I look for more accurate options.

Hey Darren, thanks for the insight man. I've been running my numbers through Zillow and Trulia, which can be misleading when generate fixed expenses. I'll do further research before move forward.

Thanks a lot @Robert Lum, any advice would be greatly appreciated. I like Buffalo because the barrier of entry is low, which gives me the opportunity to make rookie mistakes without hopefully suffering as much financially. Also I see quality duplexes within the 60-100k range with rent rates that more than cover its expenses. I have my eye on areas around The Buffalo Zoo, but will have to take a trip out west this month to get a better feel of the community. If there's advice you can offer a newbie that wants to be successful in your old stomping grounds, it'd be tons of help!

Thanks @Chaim F. for the welcome and i look forward to exploring.

thanks for the kind words and I look forward to learning. 

My name is Marlon; I am an Accounting (with over 10 years of Financial and Managerial experience) currently living in Brooklyn, NY. My plans are to invest in multifamily property in the Buffalo NY area within the next couple of months.

Over the past couple of months, I’ve been doing tons of self education through BP podcasts, Internet articles and suggested books given by seasoned investors. As attractive as this industry may appear, I want to educate myself as much possible before making committed investments.

My general plans are to purchase property and have a management company take care of the typical day to day issues that may arise. I know it’s easier said than done, so I do expect to emotionally and physically be involved as I aim to be successful. As a “land lord” I hold the ultimate moral responsibility of providing a quality living environment and I plan to do just that.

I hope to give as much I take out of this community as grow though hands on experience. Thanks you in advance for any advice, I look forward to following to eventually lead.

Marlon