All Forum Posts by: Vincent Harris

@Scott Wolf Thank you, I'm an agent as well, but I'm always down to meet new people! 

@Scott Wolf Thanks again for all of your input, we've adjusted our search to include WF. I'll be sure to post again soon! 

@Richie Thomas My lender says they don't require PMI since they're a portfolio lender. I never thought to second guess it, but I do remember asking the question a few times. Looks like it was built 1963, but you're right the homes in this area definitely skew to be a bit older. I haven't calculated any repairs since I figured I could get any repairs done myself while living there, of course I see that still leaves me without calculating cost of materials.

The $6 a month for insurance is definitely wrong in the calculations - realistically I'm looking at $80-$100 a month for homeowners insurance. I hadn't really considered STR either - depending on what I can do with the attic, that could be a great idea!

@Scott Wolf Thanks, I realize there's a bit missing to my calculations, even then it's still not a solid deal right? 

I'd love to move into Duthcess County, but I work much closer to Westchester so I have to be mindful of my commute. So far the only Dutchess properties that could make sense are in the Fishkill, Wappingers Falls, Hopewell and Pawling areas - and then I'm hard-pressed to find what I'm looking for. Although, my only source of leads is through the MLS.

Hi @Mack Benson! Yes if I rent both units I can probably get $1,500 a unit, $1,200 is a bit low for the tenant in there now, but I run my numbers much more conservative anyway. Yeah the property taxes are crazy up here, and this property isn't even all that high!

The 10% down is a good point, I guess it's just because that's what our portfolio lender suggested, but I've been working with some clients doing 3% with quicken; but I think that would raise my monthly payment quite a bit.

Hey everyone! My girlfriend and I are currently renting for $1,700 a month and we came across this duplex nearby. There's a tenant in place paying $1,200 a month, and the following information in the MLS looked pretty good to me:

"Un-Finished Attic Basement stonewall/brick foundation 50 gal hot water heater New Efficient Goodman gas fired furnace Walk out doors fuse box electricity, laundry connections, basement dry & clean New Furnace, New Soffets New Sewer Pipes New Heating Ducts New Hot water heater New Sidewalk near the house New Electrical service New Windows Slate roof, new separate gas & electric meters"

My question is whether this deal would make sense for someone looking to get started in Real Estate. The way it looks, it I would be paying a little less, and the money wouldn't be gone like it is with rent. What are your thoughts?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Nate Shields I'm looking for value add long term buy and hold through BRRRR. I'm not too comfortable yet with the whole rehab process or how to accurately estimate rehab costs so I'd like to do minor rehabs to force appreciation and keep from getting in too over my head. I plan to start with househacking and BRRRR my properties so I can "recycle" the money from my deals.

Unfortunately, my Property Management experience lies more in HOA and Condominium Association management, so I'm not sure how much it helps.

@Ned Carey excellent read, thank you for this! 

@Josh Oaten That's excellent, I haven't even thought of writing blogs for mentors as a possibility. Did you get that offer after reaching out to the investor? How did it come about?

@James Bennett It would seem to me that you have talent to offer a mentor in the form of marketing, maintenance, and maybe something sales related like negotiating deals/calling prospective sellers. Since I'm pretty inexperienced I'm not sure if that's accurate but I think it could be a start towards advertising yourselves to a prospective mentor. 

 I've been told that I am well spoken and an overall personable guy. I have a fair amount of experience in writing as most of my work days consist of sending emails, writing commentary for financial reports, and drafting letters to homeowners (I work as an Assistant Property Manager). I'm averse to talking to potential mentors before knowing what I can offer but now that I'm thinking about it, an introduction is just that, and could get the wheels turning for what I can do and what they may need. 

Hello all! I'm trying to find a mentor to learn from however, I'm having trouble trying to figure out how I can bring value to a potential mentor. I work full time and aside from learning as much as I can on Biggerpockets and the podcast, I feel as though I don't have much to offer a potential mentor but I know BP often recommends finding a way to add value to your mentor.

I'd like to ask what have YOU been able to provide to your mentors that made it a more mutually beneficial relationship? Any stories/advice would be greatly appreciated! 

Thanks for stopping in everyone! I'm looking to relocate out of NY and somewhere warmer, preferably down south to start my real estate investing. What I'm looking to know is what southern areas do you guys see as having great opportunity for rental property investing? I'm looking to start with small multi family properties. I've looked into areas like Raleigh and Wilmington NC, though I don't think rents are keeping up with home prices as much. Any suggestions on places to look into or general advice would be greatly appreciated! 

@Joe Prillaman Congratulations and great job! How did you find this deal? MLS, networking, etc...?