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Is it worth to buy a place in NYC?
Rising Star
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USI Insurance brokerage and consulting - thoughts? A recruiter reached out to me via linked in and I was wondering if anyone had any opinions on this company. They seem to have decent reviews on Glassdoor but I was hoping to get more insight into workload and comp. Thanks in advance! USI
... Like consultant? (Seen at O'Hare airport 🤣)
Enthusiast
MSFT or AWS? As Tech Pre Sales and why?
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Any advice from a soon to be landlord?
Mentor
I’ll offer a different perspective: we have medical office and apartment buildings. I would never do single-family homes. It is basically good tenants (medical) and economies of scale (multifamily). Feel free to DM me of you’d like to discuss further. I could talk about CRE investing forever.
Coach
90% wannabes. Only 10% of the folks who say they’re into RE investing are worth admiring or listening to. Out of the 10%… the really successful ones don’t talk about it.
Exactly. All these “real estate gurus” on YouTube, make all their money on YT, not real estate. Straight snake oil salesmen
Look up BRRRR investing. Kinda similar to what everyone is saying except has another step:
Buy
Rehab (i.e. renovate)
Rent
Refinance
Repeat
Essentially you buy an underpriced property which could use to work.
You use funds to renovate and increase the value of the home + potential rent
You then rent it for the higher rental rate you can now charge
You go to the back and show that your house is now worth more and is getting covered by rent (most if not all of costs)
You then refinance the home and pull out your original money and use that as a downpayment to start the cycle over again.
Essentially is a way to expand your real estate investments with as close to net zero cash in properties you own and are getting paid of partially or all by the rental tenants.
you go to the bank*
Buying houses and having someone rent there, renovating the house and selling it, or buying something that will go up on value and holding until it does. Can be a combination of those things as well.
In my experience they usually mean purchase, hold, and rent. Flipping homes is glamorized by HGTV but if you do the math, holding for rent almost always shakes out better. I usually buy a fixer, remodel it, then put it out for premium market value renter.
My latest purchase was $298k. I put about $15k of cosmetic Reno. Currently renting at $3400/mo but I pay utilities, so closer to $3100/mo.
I tend to think buying & then renting when I hear that term.
Could be commercial or residential buildings.
Fundrise!
My thoughts exactly. A way to buy into a larger portfolio of properties generating regular revenues (i.e. rent). You can do the work on your own if you have the skills to rehab a home and then rent it out, but that is an investment of time and some money upfront. I like what Fundrise is offering to still get those real estate returns without the hard work.
Flipping homes went out of style in 2007. I "flipped" my first house but I lived there and fixed it up over the course of 4.5 years. This, to me, is the only way to really flip homes. I managed to get back everything I put plus roughly $7k more. Would happily do again, basically lived somewhere for free for 4.5 years.