All Forum Posts by: Rich Becker

@Yaozu Dong will do, I am actually looking around there now. Do you want SF, MF? Intention to rent to students?

Steven Valencia welcome! As a fellow newbie, I found listening to BP podcasts that focus on your RE strategy. Mine is buy and hold so I started literally at episode 1 and scanned through podcasts subjects that relate to buy and hold. I skipped over podcasts that focused on wholesaling for the sake of time. I also listen on 1 and half speed which allows me to buzz through podcasts quicker. I'd also suggest joining your local REIA. I joined last month and the ability to network face to face with local investors is sort of priceless. Good luck!

Bill Schollmeyer Interesting! Hm..I will have to suggest a partnership..Can a portfolio lender help? Still a novice wish I could add more value, but still nonetheless curious on how it pans out

Josh Engelhart at first glance, not sure what you would be missing unless you can't fill the units at $500 (is that what you're seeing on craigslist as comps?) or are grossly underestimating the renovations. I'd be curious to hear a more seasoned valuation member chime in.

Jorge Ruiz I live in NY so I feel your pain on inflated RE. I would consider house hacking/live and flips with a FHA loan with additional 203(k) loan for rehab. Other option is out of state with possible turnkey property management assistance. However, I've seen a few turnkey options to be very capital heavy.

Ethan Feller as a a local myself, however with one less 0 than you as available funds (maybe because I chose to be a CPA, not quant hehe), I am finding it quite hard to find great local deals that make sense # wise as most the properties are super appreciated. I have attended local LIREIA and I have seen deals pitched that seemed to make sense with a lot of capital outlay and using the BRRR strategy. In regards to metro area,not to privy in Jersey city market but some people talk about the northern part of East New York (Cypress Hills) as a budding area with decent opportunities compared to the rest of the super inflated BK. I am curious to see responses to your post as I am conflicted about how much of my own capital I want to use on an investment property as I don't want to throw every dollar I have in the deal and have little reserves on the sideline.

Andres Perez congrats! As a new member, very nice to hear! Did you invest in PA?

Ian Hoover hi Ian, I recently connected with a turnkey outlet based in Pitt-seemed like a decent opportunity for an out of state investor. What are your general thoughts on that kind of arrangement?

Shawn Ackerman checked it out...seems like a service that sends you reports on foreclosures, do you use this personally? By the way, I checked out the LIREIA, met and networked with a lot of great people, I'd suggest checking it out for at least 1 meeting.

David Zheng as a new member this is very inspiring ! Thanks for sharing. A few quick questions -to clarify, each unit in your triplex had 3 bedroom/1bath? Seems like high rents in comparison to the purchase price, nothing like that around here in NY. Was this a foreclosure/short sale? Why HML rather than part cash/part bank finance? Any information would be helpful :)