All Forum Posts by: Thomas Santella

when is the next one?

Well said! So many people in the community, gurus, or people on social media pretend like they have the secret sauce to making it happen. The best thing you can do for yourself is to learn as you do and solve problems a long the way. I also felt like i've given more time to reading books, thinking about the best ways to invest and listening to "masterclasses" youtube video than i should have. Preparation is necessary, but the best teacher is experience and you will never know everything you need to before your first investment, but that investment in itself will teach you more than your previous preparation. Great post @Marcus Auerbach!!!

@John Underwood, @Phillip Austin.. So from my understanding from your responses, it is possible to achieve market rates on properties without having to make necessary improvements and additions since units just need to meet minimum quality standard for section 8. You can list at market rent rates and there is a good chance of applying tenants to qualify for the entire amount because the HUD FMR is even higher. Can I please have both of your insight? I am considering doing this for my next property.

what the actual project is you are buying and its purchase price 

It would help if you shared details about the property and not just the report sheet

Working for clients looking to buy in Manhattan Beach, it seems like buyers in both the areas are specific with their wants and with what they spend their money on because of the low turnover and inventory in both areas. I would advise you to market your property to the exact type of person you see buying it, and get an understanding of what they would be looking for to know why they might be overlooking your property. As many have said, there is always a buyer for the right price, and especially in todays environment with such expensive debt, it is important to price correctly.

Congratulations Darron! First of many I am sure. If you are looking to scale your portfolio, I am an agent finding investment property for clients throughout Brooklyn, Queens, and Long Island.. If you have any interest in these areas I would be happy to talk further and see how I can help you achieve your goals!

Congratulations! I am an agent working in Brooklyn, Queens, and Long Island. Happy to connect!

Fantastic goal, and a great way to get started on your investment journey. House hacking is the perfect way to get experience in investing in real estate while also covering a majority of your living expenses. However, how well a property cashflows or covers your mortgage greatly depends on the are and type of property you buy. Better cash flowing choices may not be preferred living for a year or two and a higher quality building might be to expensive, and you are now covering part of your mortgage. So it most definitely depends on you goals and preferences, but whatever that may be -  it is out there. 

Once you have solidified your budget, I would start talking to agents and tell them what you are looking for and where, and begin to get a feel for whats available on the market. I would also speak to some lenders if you plan on financing your purchase conventionally. I'm sure you have heard about FHA loans, they are great for house hacking, and you can get a better understanding of your next steps by hearing their recommended options as well. If you need any help or have any further questions, I am an agent in the Brooklyn and Queens area, and am always available to speak further if you would like advice.

Both great answer above!