All Forum Posts by: Will Conner

@Marcus Auerbach

Is this L&L available online, by chance?

@Amanda Gordon @Eric Greenberg

I had a similar question regarding analyzing my scenario’s starting at 5 years from now and what my goal is and working backwards.

Wasn’t sure if there was an online tool or calculator/spreadsheet of sorts to help work this out.

REALLY dumb question. Are these numbers per month?

Thanks!

@Nathan Gesner

Thanks for the response and link. I’m going to check it out!

@Suzanne Player

Thanks for the reply, you make a lot of good points. To be clear I’m somewhere between your two examples :) 38 with kids in school, live on LI so yes, no house hack and moving isn’t an option.

I work in Manhattan as an architect and work amongst developers/real estate pros and “the money” daily.

With all that said, I’m not originally from NY (grew up in central PA). That area seems (as a rookie) a great place to look in terms of starting costs. Rather than here on LI or within the 5 boroughs.

I don’t think my question was all that clear admittedly but what I’m trying to do is figure out if I can set a goal to purchase a property at 100-150k all in, and pull rent of approx. 1% of sale price (for easy math). Do that year one. Can I project that out to year two, then look at refi and do it again, and again… and again…. building on that model. Where do I think I’ll be in 5-7 years.

Im not asking anyone to answer that question! Just wondering if there’s a seminar, article, spreadsheet that would help me create this model for myself mainly to feed my curiosity but also to share with my wife so we can understand where this can realistically take us. Realistically being the key word! And potentially help to guide our decision making.

Anyway, I appreciate you jumping in. If I wasn’t away, I would absolutely come to your seminar this weekend.

I’ve worked in Manhasset and have some connections in and around. If you’re local to LI/NYC also I wonder if we’ve run in the same circles.

Hi, 

First time posting but have been on the site and learning for a while now. Just like so many people here I've made a promise to myself to finally get into real estate as a way of exiting my W2 job and provide a long term income producer for my family. I think I have a decent handle on the basics of individual property analysis (says the guy who hasn't pulled the trigger yet) but I have a general question. 

I can say that I am interested in either single family rentals or small multi family (2 or 3 units) 

I am looking to project what I can expect my personal costs will be over the next few years vs. what the cash flow will look like. I have an internal goal to replace my salary within the next 5-7 years and I want to poke holes in that thought and see what is really realistic (or maybe move that target up?!) 

Hopefully that question makes sense? Plenty of articles and sample analysis spreadsheets out there to look at an individual project, but I am looking to see what it looks like if I buy one this year, two next year, refi one to buy another, etc etc.