All Forum Posts by: Scott Morongell

@Andrew Caldieraro I would find a PM and Attorney first so you can underwrite the PM fees more accurately.  

@James Wierzba personally I would not make an exception unless you have a very very high income earning job and your willing to feed the property.  

I think it also depends a lot of your strategy with the property. How long your going to hold it? Are you buying strictly to offset something else? Or are you trying to become financially free through investing? If the later is your primarily focus I would focus on a property that produces healthy cashflow that aligns with your risk tolerance.

Best of luck and keep us posted on your future decision!

@Johny Lesko is there a lot for sale that your thinking of acquiring?  I would imagine if thats the case they would be able to provide some financials so you would be able to buy that lot "business" based off actuals and where you think you can grow it instead of an assumption. lots of luck. looking forward to see if you go through with it. 

@Daniel Vivanco texas is a great market for investments. If you become an expert in a certain area of Texas and know everything about it your chances or making a great invest sky rocket.  Also having someone in the area that you can rely for unbiased feedback will help you a lot. bets of luck to you in your future investments.

@Jonathan Colon if you like the job your at & are good at it my suggestion is to invest in yourself to become even better at that job and invest passively in a larger deal a syndicator would do.  

@Jeff Pagano congrats on getting back into RE. What type of RE are you looking into? buy and hold SFH or multi unit? I am also from NJ but invest out of state. I like business and landlord friendly markets. Markets that people are migrating to and where jobs are going. Once you narrow down a market or two then deep dive into towns and submarkets. Any other questions lets grab a cup of coffee to connect!

@Allan Figueroa If you are buying small multi unit you could do it in your own name and get an insurance policy. If your going to syndicate you would want to reach out to a syndication attorney to walk you through that process.  There are also several good books out there that walk you through from A-Z. 

I am not an attorney so you can also reach out to one for best practices when buying multis

@Derek Sampson, as Troy state there really is a lot of information out there and can be overwhelming.  Some questions you can ask yourself is.... do you want a stable investment or higher risk? How long are you looking to invest your capital? Do you want to manage the investment or be passive? Love to help you out on any other questions.

@Pierre Kiefer Pek not enough information here to suggest one way or the other.

@Mian Rizwan congrats on saving and looking to become part of a syndication team. I would suggest going to a weekend conference or multifamily bootcamp.  That would be a way to find like minded investors to meet and collaborate with.