All Forum Posts by: Rafael Norat

@Michael Rubino

That's definitely an added advantage being a GC! Irvington property taxes are so high compared to Newark and such. I was looking into some properties on 21st street a while ago, but has to consider a dorm room model to try to cash flow.

Looks good man! Yes, just sure up your back end lender and see what their seasoning requirements are.

Congrats man! Keep at it! Where in jersey? Duplexes? Singles?

Great thread by the way!

I agree with having more to cover the costs on non performing or less than stellar properties. Because one thing to account for is the experience you gain over time. Some failures upfront can strengthen your knowledge in the long run.

Ben Gammon Hey Ben. Either way, you are still relying on the support around you. So both investing yourself locally or turnkey at distance share similar risks. I would say it depends on your personality and what you're a comfortable with. I manage my own properties but will consider other out of state opportunities if it meets my criteria. Maybe defining your criteria in what your expect from your management maintenance and such will help in making your decision. Ohio does seem very active. Who are you considering in Ohio? PM me and I'll forward you a turnkey provider I'd consider that way.

Bird dog adventures sounds like a good blog!

Raphael Thomas Talk to some of the local hard money companies (alpha funding solutions, asset based lending). They may give you POF. If not, team up with a seasoned wholesaler (can recommend you some honest ones) that can work with you. Either way, you're bound to make some mistakes. Don't worry so much, just surround yourself with good people.

Do you have any real estate network meetings near you? I would say start there, network, and learn. Volunteer your time to help established investors. Listen to all the podcasts here and educate yourself. Education is your starting point. Everything else will come into play once you surround yourself with knowledge and grind a bit. No easy way here. Wholesaling may be the best way for you to get started. But even so that usually requires some sort of funding if on your own. Maybe team up with a wholesaler and help them market their properties. Hope that helps.

Man.. I would love $500 per door at 100k homes with finance. I say it depends on what's standard in your area. Ask enough local investors and you'll get a good average. My area is about $150/door with financing assuming your vacancy maintenance management cap x costs.