All Forum Posts by: Nadeem Alamgir

Welcome to BP Zack! Best of luck with growing your rental portfolio. 

Hey Bethany, I hear you on the high home prices in NY. I grew up there too. I'm now based in Ohio, specifically Cleveland, where properties range from $100K to $300K. The rental market is strong, and overall, it's a landlord-friendly area.

Not all rainbows, there are some downsides, like slower appreciation, harsh winters, and issues with older homes.

If you can invest locally, that’s great, but if not, there are definitely other markets that can support your goals.

Hey Hazel feel free to PM me, I have a strong referral network and would be happy to connect you.

Welcome to BP, Tara! Best of luck finding the strategy that works best for you. I recommend checking out Multifamily Millionaire by Brandon Turner. It’s a straightforward read without much fluff and breaks down different strategies based on your market. One method he introduces is called "Stacking" a great approach if you're not diving fully into real estate yet but want to start by acquiring a few units per year. Definitely recommended. 

Hey Tyran, real estate definitely offers a ton of strategies, and there are successful investors in all of them. The best strategy really depends on your goals, risk tolerance, and your market conditions. For example, if you're looking for scalability and strong cash flow, multi family investing in areas with a solid price to rent ratio could be a great option. If multifamily interests you, you might want to consider house hacking as a low risk strategy to start. You can qualify for lower down payment loans, and after a year you can move out, keep the same loan terms and convert the unit you vacated into a rental.

Hey David, the best metrics depend on your investment goals, risk tolerance, and market conditions. Metrics like 10-15% of ARV profit, COC, and the 70% rule all serve different purposes, helping you build expectations, safety margins, track leverage, and account for contractor turnaround times.

In my opinion rather than overanalyzing numbers upfront, I would focus first on building strong deal flow. Without enough potential deals, metrics won’t help. Once you have a pipeline, you can refine your criteria and adjust based on what works best for your market and strategy. In terms of deal flow I would reach out to a couple of wholesalers, agents and join some local investor groups either on Facebook or online local community to start. Best of luck! 
 

Hey Christine, I might be biased, but you could look into Cleveland, Oh.

Here are a few things to consider against investing there:

- Slower appreciation compared to some other markets

- Harsh winters, which can lead to higher maintenance costs

- Many discounted single and duplex might need repairs or updates, especially if the previous owners haven’t kept up with maintenance over the years

- Some local regulations to be aware of (nothing crazy, but worth noting when trying to close deals).

But there are also some solid reasons to invest in Cleveland:

- Affordable properties in the $100K-$300K range

- Strong long term rental market due to a high rent to price ratio

- Landlord friendly laws overall

- Potential for great cash flow

- Opportunities for Section 8 tenants

- stable market once you have the right team in place

Every market has pros and cons so it comes down to your budget, risk tolerance, and finding a reliable crew you can trust. Best of luck!

Hey Yianni, I would reconsider house hacking if you don’t have the time or bandwidth for a fixer upper. It’s a lower risk strategy since you’ll be living in one of the units, and you’ll qualify for low down payment loans. In Cleveland you can find below market rental ready duplexes that require minor repairs (keep in mind that discounted properties come with their own challenges). After living in the property for a year, you can move out, keep the same loan terms, and convert your unit into a rental.

Hey Brian, for software to assist with rehab costs, finding deals, and ARV comps, I recommend software like the BiggerPockets Calculator, DealMachine, PropStream, and Zillow, to name a few.

It might also be worth considering adding a solid agent to your team who specializes in off-market deals. If they have the right infrastructure in place, they can help with finding properties and determining sales comps for the markets you want to target.

Hey Barbara, I have a property manager I can recommend for the LAIC service. Since they're responsible for the property, they’re selective about who they take on, but I can refer you to them. If they’re not able to assist, I also have other LAIC referrals as well that will just provide the service only. Feel free to DM me if you're interested.