All Forum Posts by: Raid Murshed

@Nathan G. Thank you!

How to start a management company for real estate? Best way to get clients, and how to charge clients. Is it a percentage of the rental income? What kind of responsibilities does a management company face

How can I get a loan and not from a bank? Banks ask for the last two years of tax returns. My tax returns weren’t the best since I was going to school full time. I now have a Corporate job. Going to school I was saving majority of the money since I lived with my parents and I have no college debt.

I want to buy a multi family that is currently producing rental income. The bank will not give me the loan I need , because of my last two years of tax returns being weak. What other options do I have other than the bank?

@Scott Wolf yes! That would be great. Send me the info, thank you so much

@Scott Wolf My goal is to honestly get a 2-3 family or a 2 family with a basement. I want the rent to pay the mortgage. I’m looking for something that is already producing income. I just graduated college and I want to invest in real estate in NY. You’re suggesting to walk to a bank and see what I can get approved for ?

@Scott Wolf the issue isn’t the money down. A 2-4 family is around 500k and up. How can I get prequalified for that? My past two years of w-2 weren’t the best since I was in college and working. Now I have a full time job. How can I get a pre-approval for 600k?

Is it better to buy a Co-Op or condo if you are trying to get rental income? I know for co-ops some board members will not allow you to even rent your co-op. I live in New York, I want to start investing but co-ops and condos range from 150k-250k. Which I can be pre-qualifed for. A two family house in New York is 500k. I rather invest in a two family house but I don’t have the proper funds. Should I start investing in a co-op or condo to start off? I want to make rental income, that’s my main goal

@Jaron Walling I do not want to move out of New York that’s for sure. The plan is to buy a few properties say out of state, save the rental income once its paid. Use that as leverage to buy a commercial building in New York with substantial income. Of course that comes with a bigger down payment and it’s more expensive in New York. My issue now is, I have some money, I want to use it and make monthly income on it. It’s just I don’t have any tools right now to use and plan. I’m hoping I connect with people here to maybe invest together and everyone makes a return on there investment.

@Xavier Marcial I am looking right now in Albany. I see Multi family houses for under 200k with rental income.

@Abel Curiel thank you for you reply. I would like to invest in other state however, I do not know any investors. Also I wouldn’t be familiar with the area. In New York one tends to know which areas will be rented if say a tenant leaves. I wouldn’t be stuck figuring out how fast will I get another tenant. I am definitely open to out of state properties. Only thing is how ?