All Forum Posts by: Nwachukwu Onyeaso

Thanks, Patrick. 

I am currently considering a property in Montclair, New Jersey that requires some work and would like to consult with an architect so I can make an informed offer. Does anyone have solid recommendations for professionals in the area? 

@Odie Ayaga thanks for the encouragement. You make a great point about the importance of the team I build around me. I don't have any experience doing this but based on @David Greene's book I know I need to work with an agent, a lender, some sort of rep to help with inspections, a property manager, and a general contractor. I know I'll make a bunch of mistakes as I start out so I intend to keep my deal size at a manageable scale so a bad mistake doesn't prove catastrophic for my investing career. 

@Cody L., LOL at "what do you bench?". I'm sending you a connection request now. 

@Aaron K. I'm grateful for the tips. My initial focus is Indy and after a search I settled on a local agent whom I have been speaking with. Additionally, I have spoken with a three lenders with a view to getting pre-approved. Based on my conversations with lenders I have an idea of what size of mortgage I can take out. I am sure there's at least a tonne of stuff I'm overlooking but I am learning something new each day. Once again, I really value your feedback and will be sending you a connection request. 

@James Wise, wow! Thank you for taking the time to share this with me. I don't know about it being pretty easy but I agree with you that it does seem possible. I am a little risk-shy but I find that thorough analysis helps strengthen my resolve. So much to think about. I didn't know you had to be sure your property manager was a licenses brokerage. All your tips have now been engraved on my brain. Much appreciated. 

@Aaron K., thanks for pointing out that distinction between actual returns and number of units. You make a very valid point.  The reason I used number of units was to mentally prepare myself for the work ahead as I feel stating a return expectation may suck me into waiting around for that one deal of a lifetime. I have excellent credit as does my spouse and I am confident we can find conventional lenders to work with. There's so much I don't know and I really appreciate the advice about overly aggressive goals. I'll keep that in mind and pace myself. 

Hello everyone, it's great to be here. I moved to the US 3 years ago and I live in Jersey City, NJ with my wife of 10 years. In that time we have been renters but are now in agreement that we should look to buy a home. Easier said than done when you choose to live in such an rapidly appreciating, hot property market like ours. Cue David Greene's exceptional book - Long Distance Real Estate Investing - which led me here and has helped me think through what my investing philosophy needs to be. 

Above all, I am hoping to connect with anyone whose investments are out-of-state rental properties and are currently doing over 20 deals annually. That said, I'm also keen to network and meet people so say hi and I'll say hi back. 

I am interested in in buying rental properties that lend themselves to the BRRR strategy in these markets - Houston, El Paso, Tucson, Baltimore, DC, Philadelphia, Louisville, Indianapolis and Orlando. I've set myself a minimum target of 10 deals in 2019. My long term goal is to build up a significant enough warchest through real estate investing to focus on affordable housing initiatives in my home country.

My background is in finance and I am a Chartered Financial Analyst (CFA) charterholder so if you need a pair of eyes to look over your numbers with you, I will work for coffee and donuts! At least for now.