JP Ruiz: Knows more about 401ks than anyone I’ve ever met…crazy smart, articulate, highly inappropriate sense of humor.

I highly recommend you reach out to him, he is fast, professional, and does amazing work.If you would like me to make that connection, reach out to me.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

If you live in a high cost of living area, investing in more affordable out-of-state markets can be a great strategy.

If you are using STR, REPS, or self rental with material participation to convert to active or nonpassive income, you do not have to do this if you have passive business invesment that produce passive income that will exceed the loss generated by depreciation.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

.- Unexpected expenses that eat into profits.For example, some investors who bought in 2022 at high interest rates expected strong rent growth to cover costs.

If you don't have family wealth, can tolerate living without nice things for a while and don't want to risk over leveraging yourself I highly recommend it.  

To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

Since competition is high and inventory is low on Long Island, I recommend BP members try to go direct to seller which is an active form of building an off-market deal list.