All Forum Posts by: Shlomi Mor

Hey @Shlomi Mor - you've already done two of the hardest things when investing in real estate, overcoming the mental hurdle & narrowing your search criteria.

I love that you have a goal you write daily, I too want to own a large rental portfolio!

Agreed with the other comments about finding deals on websites like LoopNet. As an investor-come-agent, I can help lift the curtains on that: we 100% will network with our own office and private buyers before advertising publicly. I've crunched the numbers on deals listed on LoopNet and was always put off at how difficult it was to find a property that actually met my criteria. The good deals are gone before anything is listed publicly.

I personally don't think jumping into a 8-10 unit property as a first timer is too high of a risk, depending on what your background is. If you've been around real estate before (whether in your career or even family), then it will be easier for you. 8-10 units is manageable, even for a first timer.

There are a few areas within 2-3 hours of NYC that will meet your criteria; I've worked with investors in NJ and PA with a similar background as yours and who own multifamily buildings.

Shoot me a DM and I can at least point you in the right direction, it will help save you time wasted on making the same mistakes I've made when I first started a few years ago.

Hi Muhammad thank you so much for taking the time to answe me I will definitely send you a DM

0 Votes

New York City, New York

Hi there ,

I don’t own any real estate yet , but I want to get my first property this year as I have a nice amount for down payment . My initial goal was to buy a 2 family home in LOng island and house hack but the down payment is so much and taxes are too high in my opinion we would basically pay the same in the city and it’s just adding no commute for me which is not ideal.

My goal I daily write is to own 100 apartments units .

I decided to focus only on Multifamily units and scale up hoping for first purchase of 8-10 units find something with add on raise rents cash out refinance and then perhaps go to 20-25 units .

I live in New York City .

I have a few things I need help with .

1. Area to focus on Multifamily 8-10 units only for finding deals not too far from NYC up to 2-3 hours drive in the 1-2 million dollar range and down payment up to 300k ?

2. What website I can best look for multifamily deals,?

3. Any advise you can have for me as a first time investor going to multifamily? Do you think jumping in to 8-10 units on first deal is too much ?

any advise would be welcome.

2 Votes

New York City, New York

Looking for a general contractor in NYC please help

0 Votes

Looking for a general contractor in New York City for a commercial space any recommendations?

0 Votes

@Jason Bott thanks so much for your info make so much sense

1 Vote

@Skip Dell from what the broker say they pay on time

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@Skip Dell tenants pay 965$ 935$ 920$ 900$

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@Daniel Helton does your section 8 pays their own utilities ? If I have right now section 8 tenants with lease that includes utilities how would you go about moving them to a lease with them paying their own utilities

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@Jason Bott the broker was firm the insurance was 1000$ a year

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@Tim Porsche yea the deal would be solid if I can eliminate at least the electricity and gas which goes 600$ a month for 4 units however I am not sure if the government would subsidize that the rent is already 950 per unit includes utilities

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All Forum Posts by: Shlomi Mor

Shlomi Mor has started 11 posts and replied 45 times.

Post: Multifamily first deal goal advise

Post: Multifamily first deal goal advise

Post: General contractor in nyc ?

Post: General contractor recommendation in New York City?

Post: 4 plex Multifamily analyzing deal

Post: 4 plex Multifamily analyzing deal

Post: 4 plex Multifamily analyzing deal

Post: 4 plex Multifamily analyzing deal

Post: 4 plex Multifamily analyzing deal

Post: 4 plex Multifamily analyzing deal