All Forum Posts by: Richard Pallarino

Hi everyone,

I have been researching various real estate investing ideas and one that I haven't really put much effort into is renting to college students. I'm from NY and not many areas here are affordable for someone in my financial bracket. I was considering renting out of state, but thought maybe buying a property in a city such as Albany and renting to college students may be an idea. Does anyone have any experience with renting to college students that they'd like to share? I'm interested to know if there are certain permits I may need to rent to college students or anything unique to this process. Would appreciate any insight.

Thanks a lot!

Rich

Hi everyone,

I'm looking to invest in C class neighborhoods in Cleveland relatively soon. I wanted to take a moment to ask everyone on BP who invests in buy and hold properties, what their current markets are and if they plan to stay in that market or move to a different market. If so, which market will you be moving to?

It took a while for me to become comfortable with Cleveland, as I originally started in Dallas and then many different cities, prior to Cleveland.

Looking forward to hearing from you all!

Thanks,

Rich

Can anyone suggest a website or a way to find cash buyers? Seems harder during Covid not being able to attend real estate meetings

@Mark Smith thank you! Great insight and will follow up with the seller.

Hi everyone,

New to the real estate investing industry. When looking at a potential deal, how much extra do you include in monthly costs in addition to the mortgage payment? For example, if the mortgage payment on a $100,000 home is roughly $600 a month on a 30 year mortgage, what are the additional costs that I should include? I understand insurance costs, property manager fee, and taxes, but what else should I include and roughly how much extra monthly costs should I estimate for? All advice is appreciated.

Thanks in advance,

Rich

@Kyle J. Thanks, Kyle. I'll definitely get in touch with an insurance agent and getting some quotes on various coverages. Appreciate the clarification

Hi everyone,

For my rental property, I am trying to analyze and understand the costs associated with monthly payments in addition to the mortgage. With my rental property, will I need homeowners insurance and landlord insurance? Or is it just landlord insurance that covers the home, since it is classified as an investment property? I appreciate any and all feedback, as insurance is an area that is foreign to me.

Thanks,

Rich

@John Warren Appreciate that, John!

Hi Everyone,

Pretty new here, but I am excited to be part of the BiggerPockets forums! My partner and I are looking into certain areas to invest in, but we are having trouble verifying vacancy rates. One website says 10% then the next website says 3%. Can anyone share what resources they use to understand and verify the most accurate vacancy rates? This is a key component to our strategy, as I am sure it is for everyone else as well. Any help is appreciated.

Best,

Rich