All Forum Posts by: Raven Ye Mahar

@Raven Ye Mahar, if investing in Atlanta, GA is ever on your radar, please feel free to reach out. Most of my out-of-state-clients implement rent-by-room to achieve high yield cashflow. 

Hey @Raven Ye Mahar - welcome aboard. 

You'll find that actually being in the trenches of REI is very different than sitting behind a computer desk as an analyst.

Both in the work you'll do, as well as the people you'll interact. I used to work in acquisitions at a real estate fund before deciding to branch off on my own. 

Shoot me a DM if you'd like to chat further, or swing by my meetup happening later this week. 

 Welcome! Have you thought about where you want to invest or what you are looking for out of an investment?

Go bigger now! It sounds like you have a solid base and it’ll take you a similar amount of time to close and manage a larger deal.

We pivoted to self-storage a few years ago. We like self-storage because even if there is a recession, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions. And during inflationary times, our rental rates increase. We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases. 

Now we syndicate larger self-storage deals and work with passive investors. These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project. I'd be happy to connect.

Welcome aboard Raven!

Raven,

My name is Numa Roades, and I am a real estate agent in New York City, specializing REO and foreclosure properties, in the five boroughs and the counties of Nassau and Suffolk. I am excited to hear that you are new to real estate investing and that you are looking to connect with like-minded individuals. I am happy to offer my assistance and insights.

As a new investor, it is important to educate yourself about the real estate market and to develop a sound investment strategy. I recommend that you start by reading books and articles on real estate investing. You can also attend real estate investment seminars and workshops.

Once you have a good understanding of the market and have developed your investment strategy, you can start looking for properties to invest in. I can help you find properties that meet your investment criteria, including foreclosure and REO properties.

I am also happy to provide you with guidance on the buying and selling process. I understand that real estate investing can be a daunting task, but I am here to help you make the process as smooth and successful as possible.

Please feel free to contact me at any time if you have any questions or would like to discuss your investment goals in more detail. I look forward to hearing from you soon.

Hey @raven congrats on taking the leap. What are your first thoughts on how you are going to get into the real estate investing game?

Hello Raven and welcome to the BP forums!

Great to see that you're looking to leverage your family's experience and your own industry experience. 
Curious to know how your family got started.. Like you, I had some RE background just from watching my family. My Grandfather and Father purchased rental property in Queens in the 90's. I followed their footsteps in 2010 by purchasing a househack property.

For NYC and the surrounding suburbs, I believe househacking is a great way to get started. 

Main benefits:
1. Depending on the deal and your down payment, you may be able to match or lower your current living expenses while gaining equity
2. Acquisition experience: You can work closely with your acquisition team (attorney, lender, Realtor) to learn and build systems for future deals. i.e. how to find the deal, analyze the deal, negotiate the deal.
3. Project management experience: For renovation projects you'll either do the work yourself or hire out (and manage GCs). Even if your first deal is fully renovated, you'll have to do some kind of project management i.e. small repairs; painting; replacing hardware, mechanical systems, appliances etc.
4. Property management experience: Preparing your rental units for occupancy, marketing your rental unit, screening tenants, coordinating lease signing, etc. Most realtors or PM companies will do this for you but you can still learn form them along the process
5. Low down payment financing options: Aside from 3.5% minimum down payment FHA loans, Fannie Mae is rolling out a 5% multifamily conventional loan option next month. 

If you're not married to the idea of investing here (I get it, NY isn't very landlord friendly), I'd recommend looking into landlord friendly states that have lower price points and more cash-flowing options than NY.

All the best!

Abel