All Forum Posts by: Nicholas Mann

@Jeff Piscioniere

Hey Jeff it’s the Rand Realty Quarterly report not sure if you can find it on google or not, if you can’t find it online send me a message and I can forward the email to you.

@Josh Bugbee

Hey Josh one key piece of advice and you’ll hear Brandon mention it on the podcasts over and over is to just start analyzing deals. After listening to the podcasts on and off for years I think it was sometime around last year I made it a habit to analyze at least one deal a day. Now about a year later I have ran numbers comps potential rent and expenses hundred of times that it takes me about 2-3 minutes to look at a property and know if it’s a good deal. Then (as I’m sure you can read more on) I will determine if a property is worth further pursuing. I definitely recommend investing in some Bigger Pockets books to further educate yourself. Best of luck and if you have any questions on how to analyze a deal feel free to shoot me a message.

Best of luck

Nick Mann

@Andy Nathan

I also was able to get Pre-approval for a way better interest rate than my original investment property loan. I believe multiple small wins will lead to major successes down the road! Great post!!

@Joseph Hammel

I was about to put an offer in mid March just as all the craziness started. Now as things have calmed down (or at least we think they have) I feel strongly about offering around 10-20k less than my original plan. I did just receive a market report from A Major Realty company in my area and they've been around since the 80s and they're projecting a market decline at least in our area. This either makes me hesitant to offer on a property or maybe I'll use the leverage to get a good deal! Either I don't think anyone knows what the future holds but if your cash flows and ROI are good enough for you I guess that's all that matters.

Best of luck everyone and hopefully we can all still acquire deals months from now and not feel like we jumped the gun.

@Lisa Forde

Just went to a Mortgage Broker the other day for an investment property. Got me a way better rate for a pre-approval than traditional banks were offering.

Donnie Angiello

Preferred Capital Resources Inc

Either google him or message for more info.

Best of luck

@Carlos Tovar

If you have the construction and flipping knowledge then use it to your advantage and do a BRRRR strategy for rentals. Maybe you'd don't need 100 single family rentals but you can do what Brandon Turner describes as the Stack. You buy one single family or multifamily then aim to buy 2 or so the next year then 4-5 the year after that and so on and so forth. With 5-10 years or sooner, maybe you find a 50 unit apartment building you can BRRRR and get to 100 rentals that way. A relative of mine started buying properties when he was early 30s and here he is now 90 years old with 300 tenants so anything is possible.

Good luck and keep us posted on how things go!!

Nick Mann

@Cory Sparks

Hey Cory,

Maybe look to find a property that needs some work and you can force appreciation buy doing some rehab work yourself with your partner. 2 female friends of mine were able to find a distressed pre foreclosure, get and FHA loan, learn and tackle most of the renovations themselves and then rent out 2 units and live in the basement unit themselves.

Good luck

@Edwin G Cruz Jr

Hey Edwin Good luck with your future endeavor. In the meantime something you can do that costs no money is listen to the BP podcasts to really get a feel for the many different aspects of real estate. If you want to own multifamily properties you’re gonna want to save up capital especially in Westchester market where $50-$100k won’t even go that far towards a down payment. Wholesaling is a whole nother game but mainly it takes a lot of hustle and time. You can drive for dollars around your neighborhood, city, town etc, looking for distressed properties and trying to reach out to possible sellers. As I said and others on here have stated there are tons of ways to get involved in real estate but first educating yourself and having hard work ethic is what you’ll need. It’s been stated on the show many times that almost all deals need the Brains, The hustles and The money to get done so find which one you can add to.

Best of luck and feel free to ask any questions

Nick Mann

@Jose Rojas

I similarly bought a house from a relative, no agents involved. You’ll want to speak with any real estate attorney and still go through a closing with title and all that. The closing cost in my scenario In Westchester County was something like $2k in lawyer and Title costs. Far less than a typical real estate closing from my experience.

@Jessica Doolittle

Hi there,

I do not have a list of the city and area demographics here but some markets within 2 hours of NYC would consist of Westchester, Rockland and Possibly Albany. That’s if you plan on staying in New York.

The best way to start to get a feel for a market is just analyzing properties. Find a market such as Yonkers in Westchester. Start looking on Zillow or Realtor for what certain properties are being sold for, then look on rentometer or use Craigslist or Zillow rentals to get an idea of the average rent in that area for Comparable units and get yourself a baseline on Cash Flow and ROI. Brandon Turner says it on the show all the time that it doesn't take any money or risk to analyze deals so start there. Try to make it a habit to analyze a deal a day or more and pretty soon you'll have a good idea of the specific market you are looking at. For more info on deal analysis just search the forums as I'm sure there are tons of posts. Best of luck!