All Forum Posts by: Ash Clarke

Rich! That's a fantastic idea! The "layover house" that you alluded to is commonly referred to as "crash pads" in the airline industry. I know a pilot who has an established presence in that niche market. The rental arbitrage suggestion also sounds good. I'll add these to my list and explore them as possible cash-flow opportunities. 

Thank you,

Indeed it is! The first step in any new venture is always the most daunting, but I am motivated to take on this challenge and be successful. I am ready! 

Best, 

Thank you for the welcome Julio! I am so glad I found the BiggerPockets community. I have a feeling this will be a game-changer in my life. I am pumped about this journey! 

Regards,

I love that advice! I can see properties near travel hubs developing into a nice niche market for me. I will explore this idea further. 

Thank you,

Alexander, thank you for this overview of the NYC real estate market. I share your bullish sentiments and agree that now is an opportune time to invest as there are some covid-related weaknesses in the market that will soon disappear as we return to normalcy after the pandemic. 

It's a little harder for me because I am a new investor without significant capital. However, I know where there is a will there is a way. I look forward to networking with my fellow investors here in the NYC metro area and buying my first deal soon!

Best,

Hi Nicolas, thank you for your response. That sounds amazing! I would love to buy similar rental properties near great locations like that. I might need some time to line up the financing that may be required for the Queens market, but I will be in touch with you soon.  

Hi Alecia, I'm a beginner investor and I love this advice! That's exactly what I'm doing now. 

Best, 

That's good advice Brandon! I've learned the same thing based on my research. Banks generally will not provide residential mortgages to an entity (LLC, S-Corp, C-Corp, etc.) -- you'll have a much better chance of approval as an individual for a residential mortgage (anything up to a quadruplex).

Many first-time investors start by buying a property in their own name, then transferring that title to an LLC later on. The LLC comes in very handy for larger investments, particularly at the commercial level where it becomes much easier to secure financing through the entity.

Hello everyone,

I am new to the BiggerPockets community. It might be early in the game, but I already feel like discovering BiggerPockets is one of the best things that has ever happened in my life. I couldn't think of a better platform and resource to start this exciting new career path in real estate investing. I am a fast learner with a deep appetite for knowledge and an incredible self-drive.

To get started, I've decided to build a strong educational foundation as I believe this will be critical to my long-term success in this industry. I've read the BiggerPockets e-book, "The Ultimate Beginner's Guide to Real Estate Investing," in its entirety. I found that book to be so resourceful and helpful, I went ahead and purchased the more in-depth book, "How to Invest in Real Estate - The Ultimate Guide to Getting Started," by Joshua Dorkin and Brandon Turner. I am almost done reading that one.

These books answered many of the questions I have as a new investor. I feel like I have a proven roadmap ready to guide me along my investment journey. I have extensive experience in other industries outside of real estate. One thing I can tell you is that having a solid educational foundation can make a crucial difference in the probability of success in any endeavor. So my advice to my fellow newbies is, please don't skip this part.

In terms of my preferred niche and strategies, I am pretty open-minded and flexible, but I do have a preference for cash-flowing multifamily rental properties implemented with the buy-and-hold or the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) investing strategy. I am willing to test other niches and strategies, but I would like that to be the anchor of my investment portfolio.

For my very first investment, however, I might start with a house hack. The ideal scenario would be to buy a quadruplex, financed through an FHA loan. I would live in one unit and rent out the other three units. Eventually, I want to scale my operations to a level where I own big cash-flowing apartment and commercial complexes in cities all across the United States and possibly in other countries as well.

One important lesson that I've learned from my research so far is to pay close attention to the numbers and data in any given real estate investment endeavor. Although I have my preferences, I'm willing to try my hands at a few different things over time then evaluate the data and see which provides the best ROI and fits well with my long-term plans and objectives.

I am currently working on assembling a winning real estate team. Real estate, as we know, is a team sport and a people-oriented business in many respects. As many experts in the field have said, it often takes the work and corporation of a number of different individuals working together for a deal to be successful. I would love any guidance, tips, or advice that anyone can provide in this regard.

I live in New York City (the borough of Queens) which is a very expensive market. I know deals are still possible here, though it might take a lot more effort than in other markets. I am very flexible and adaptable though. I am willing to travel and/or invest at a distance if necessary -- I work for the airlines and have easy access to travel anywhere in the United States.

Before I conclude my post, here are a few things about me:

• I currently work as a Flight Attendant for a major airline
• I trade equities and derivatives on the stock market as a side job
• I am a commissioned Notary Public within the State of New York
• I am currently working on obtaining my Real Estate License

I love the networking aspect of real estate. I look forward to getting to know each of you, and I hope there is some way I can contribute to the growth of your business as I travel my own journey. Please feel free to follow/connect with me. Let's grow together!

Finally, thank you for reading my long post. Venturing into real estate may seem overwhelming at first, but as the saying goes, "a journey of a thousand miles begins with a single step."

Best,

Hello everyone, 

I am new to the BiggerPockets community. It might be early in the game, but I already feel like discovering BiggerPockets is one of the best things that has ever happened in my life. I couldn't think of a better platform and resource to start this exciting new career path in real estate investing. I am a fast learner with a deep appetite for knowledge and an incredible self-drive. 

To get started, I've decided to build a strong educational foundation as I believe this will be critical to my long-term success in this industry. I've read the BiggerPockets e-book, "The Ultimate Beginner's Guide to Real Estate Investing," in its entirety. I found that book to be so resourceful and helpful, I went ahead and purchased the more in-depth book, "How to Invest in Real Estate - The Ultimate Guide to Getting Started," by Joshua Dorkin and Brandon Turner. I am almost done reading that one. 

These books answered many of the questions I have as a new investor. I feel like I have a proven roadmap ready to guide me along my investment journey. I have extensive experience in other industries outside of real estate. One thing I can tell you is that having a solid educational foundation can make a crucial difference in the probability of success in any endeavor. So my advice to my fellow newbies is, please don't skip this part. 

In terms of my preferred niche and strategies, I am pretty open-minded and flexible, but I do have a preference for cash-flowing multifamily rental properties implemented with the buy-and-hold or the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) investing strategy. I am willing to test other niches and strategies, but I would like that to be the anchor of my investment portfolio.

For my very first investment, however, I might start with a house hack. The ideal scenario would be to buy a quadruplex, financed through an FHA loan. I would live in one unit and rent out the other three units. Eventually, I want to scale my operations to a level where I own big cash-flowing apartment and commercial complexes in cities all across the United States and possibly in other countries as well.

One important lesson that I've learned from my research so far is to pay close attention to the numbers and data in any given real estate investment endeavor. Although I have my preferences, I'm willing to try my hands at a few different things over time then evaluate the data and see which provides the best ROI and fits well with my long-term plans and objectives.

I am currently working on assembling a winning real estate team. Real estate, as we know, is a team sport and a people-oriented business in many respects. As many experts in the field have said, it often takes the work and corporation of a number of different individuals working together for a deal to be successful. I would love any guidance, tips, or advice that anyone can provide in this regard. 

I live in New York City (the borough of Queens) which is a very expensive market. I know deals are still possible here, though it might take a lot more effort than in other markets. I am very flexible and adaptable though. I am willing to travel and/or invest at a distance if necessary -- I work for the airlines and have easy access to travel anywhere in the United States.  

Before I conclude my post, here are a few things about me: 

• I currently work as a Flight Attendant for a major airline 
• I trade equities and derivatives on the stock market as a side job
• I am a commissioned Notary Public within the State of New York  
• I am currently working on obtaining my Real Estate License 

I love the networking aspect of real estate. I look forward to getting to know each of you, and I hope there is some way I can contribute to the growth of your business as I travel my own journey. Please feel free to follow/connect with me. Let's grow together! 

Finally, thank you for reading my long post. Venturing into real estate may seem overwhelming at first, but as the saying goes, "a journey of a thousand miles begins with a single step."

Best,