All Forum Posts by: Sawyer Masterson

Hey all, I am married with 4 kids and I am looking to get into the real estate investing world. I just recently purchased our first single family house for my family but want to dive into the multi family unit world. Is it possible to get a small business loan to start this? What are some of your recommendations? Thank you for the advice! Sawyer

Good Morning Everyone,

I am new to the real estate industry, but will florish with experience and advice.

I was curious if anyone had any recommendations about the best way to start out as well as any advice on how to be successful with investing in Student Rentals in Upstate NY?

Thanks,

Sawyer 

Okay, that makes total sense. Thanks for the insight. I greatly appreciate the help.

Good evening Folks,

I have a quick question. What would you recommend doing when looking at a multi-family home where 1 side is currently rented out and their agreement isn't up until the end of the year? I have found a decent place that has a current income per month of $975 in unit 2 and unit 1 a buddies family just moved out of and they were paying $875. Mortgage would be roughly $800 per month, total with insurances and everything excluding maintenance and repairs. Do you request the previous owners rental agreement or do you draw up a new one with the tenant? Advice?

Thanks for the reply Dennis,

I live in Upstate NY so hopefully I can find a decent 2 family unit to purchase and rent out. I was looking into a loan called the 205k loan i believe.

@Robert White  Thanks so much for the help! I really appreciate it!

I have also spoken to a friend who is very well off due to real estate investing who says to make sure to use a property management software. He hasn't named one over another but said to look around and find one that best fits my needs. I have found one named Buildium and was curious if anyone has used it, as well as their opinion on the program.

Dominic Jones thanks for the Response.

My plan of attack is to buy something that I could fix up and probably do student rentals. It really all depends on how much of a hassle students are to rent to. The plan was to rent only to Juniors and Seniors. The area I would be looking to purchase would most likely be around the Binghamton University area. I have spoken with a few local investors, that specifically flip homes, who all say that they make money but you get better returns on student rentals as well as multifamily rentals. Obviously more of a hassle than flipping but with the better returns it is also much more appealing.

Good-morning Folks,

Hope everyone is having a great Friday today. I am new to the Real Estate Industry, but am planning to dive into Real Estate Investing. If anyone has any advice on how one should start with roughly a $5,000.00 down payment I would greatly appreciate the help.

Thanks,

Sawyer