All Forum Posts by: Diana Tian

Leo I'm in the same boat as you at the moment. I have ten properties, and many people around me that want to invest in real estate, but they don't want the hassle of dealing with tenants, nor the re-hab, and day to day operation. I think you're going down the right path, because that's the same plan I'm pitching to my investors. They put up the 20% down, and we split the rent 50/50. The part of the deal that makes it attractive for the partner, is I pay the rehab cost, I manage the day to day operations, I collect the rents, pay the taxes, etc. That's very appealing to people who have a little cash, want to invest in real estate, but don't want to deal with everything else that comes with it.

Investors I've spoken to love the fact that they can park their money somewhere that relatively safe, and get a monthly return. Most people not familiar with the ins and outs of real estate investing just want to get a little better return every month that beats the bank, along with some tax advantages. I trying to draw up a partnership agreement now that spells all of that out. My investors were very receptive to leveraging my time and knowledge to get a return. I have capital to purchase a property all cash, then get a return from the investor, place the property in an LLC, and take a loan out on the property with a local bank, with me being the personal signer. This way the partner doesn't have to go through the "approval" process with the bank. Good luck.

I have a few buy and hold properties in jersey city. I am looking to network with any wholesalers / investors in the area. Im open to anything wholesaling , flips , rentals . 

I own a few multi-family units which we've bought and fully renovated in Hudson County. Generally buy vacant properties near the train station (Path) and turn it into mid-luxury type of units. Also beginning a venture where we have bought land and will create a retail shopping centers from scratch (Anchor tenant ready). Fascinated by tax liens and would love to learn to be a hard money lender, but all in due time :)

Thank you so much for all the help from Bigger Pockets Community. This has all happened in the last 2.5 years and plan to post each of the purchases and experience soon.

 Thank you for the great advice. It is very helpful. I am focused on cash flow as well. I just was considering doing this in Astoria because I'm familiar with the neighborhood and its close to subway. A friend suggested jersey city but I don't go there so often and its unfamiliar. If you know of any good ways of finding properties let me know. Thanks again for the advice.

@Rusty Knowles 

You didn't highlight my name so I had no clue you replied.

Some investors put the deal together and become asset managers and property managers if they live close enough to the subject property. They ask for a bit more of the share say 65-75%. 

I personally cannot manage any property myself because I am in Canada and all my properties are in the US. So I am strictly an asset manager. I found deals so good that my investors are willing to accept a 50/50 split and we are still paying a 3rd party property manager/management company as expense. 

I came across a few investors that said if I am going to get 50% I am responsible for either property managing the property myself of pay and 3rd party out of my 50% share. I gave them the finger because my deal was too good and they were too greedy.

I would put away a 5% of purchase price reserve fund. Furnaces, hot water tanks, Septic tanks or whatever is costly. But if the inspection comes away flawless (This never happens unless newly built property) then you can lower it as much as 2%.

 Thank you Diana. I appreciate your good advice. So you are suggesting that I invest in Jersey City rather than in Astoria? It's hard for me to find a partner and one potential partner does not have funding for a down payment. So u believe I may be doing this on my own. Let me know any thoughts. I am eager to invest so I can have the income each month. What numbers do u suggest? Buy something smaller ? 

 I'm looking for an investment property (6 family) to rent out the units. 

Appreciate all the responses! In response to Sal, I so far have been looking at White Plains, Yonkers, Tarrytown, Sleepy Hollow.  I will also check out Elmsford too thanks for the suggestion.  Probably can't go up to Peekskill just because my commute to the Financial district would be too long.  I know the taxes are high but they were better than when I was looking at places in West New York, NJ surprisingly.

Angel any areas in Yonkers you would recommend or avoid?  I haven't spent time in Yonkers in several years to be honest.

John I thought it was a one time thing. Will definitely have to look into that. That is a game changer.

Any advice on target Cap Rates or ROI when looking at potential investments? I have seen some examples on the website for cheaper areas in the country so curious how you assess places in a more expensive area like this