All Forum Posts by: Khaled Morad

 Sophia, think about where you would want to live now as a student. As a recent graduate, you have inside perspective you can utilize. Where is convenient? What area is too far or too sketchy? I'd also suggest checking out Black Rock and or University District--where Hertel hits Main St.

As far as timing, I'd start now so you can begin looking and getting serious. Small steps will help you build momentum making your goals more attainable with each step. They will ask you for recent paystubs and last two years' tax returns most likely. Waiting until this year's tax return will not have that much effect. You can always update your information and will actually need to if/when your pre-approval expires.

Get your pre-approval process started so you can begin looking to learn what types of properties are realistic, what areas/properties are not what you thought they were, etc. After exploring a few listings you will begin to read the nice photos/descriptions more critically and hone in on what you really want/fits your goals.

I think you’re in a great position to accomplish your goals! You’re ahead of most people your age. 

One thing I’d add is once you have your budget, find a good investor-friendly agent and start looking at houses. It’s not too soon, because this way you can learn what is really out there (pics are deceiving). You can begin to understand neighborhoods, layouts, what $100k looks like vs $150k, etc. 

@Joshua Esplugas thanks. I DM’d you. 

A blank check made out to me... jk. Nothing. Just yourself. I like to bring a notepad because I learn so much every time I go. There are people who haven't bought a single house to investors with 500 units.

Ouch, those Tonawanda taxes! I grew up in Tonawanda. It's a great place to live. Best of luck! When you are ready to disclose, I'd be interested in learning where it is.

Check out our meet up every 3rd Wednesday of the month at Sako Brewpub on Pearl St. You can search for Buffalo Meet up and it will pop up. 

And nice to meet you! I am another Buffalo investor, preparing my third duplex for renting right now. Always open to a conversation and sharing resources. And it seems I'm always looking for a good plumber and handyman/contractor. Know any?

I recommend giving Sentry South in Cheektowaga a call. They’ve installed two furnaces for me and done repairs. They’re great-especially Jim. https://sentrysouthheatingandc...

Vicky, unfortunately I cannot help you with an accountant, but can you share the reason you set up your duplexes in a C-corp? What's the advantages?

I do not have as many as you, but I did ask my accountant about transferring ownership to a holding LLC for each property. He advised me that good property insurance and an umbrella policy should be sufficient protection.

I live in Buffalo and use Geico for auto insurance. I don’t use them for my properties for the same reason you’ve encountered “no central heating” (I have radiant heat but no radiator in my bedroom). Try State Farm. That’s who I use. Flexible with decent rates. I’ve tried a few brokers. No one came close. 

Message me for more details if you’d like. 

@Michael Kotas I messaged you. I can help with some insight in the area!