Sudden urge to get into buy and holds

[Carlos Tovar]

My name carlos.. I am based out of queens New York City

I been buying Shortsales and flipping them in queens and Long Island for the pass 4 years

I do about 1 flip every 3/4 months

I come to conclusion that I should focus more on rentals

Flips are a lot of work and the money good... but I have a constant need for fresh money every month.. and that need.. affect my bottom line tremendously

In all reality once I sell I see a nice amount of money but I am wrong to think.. that I should probably sell some of the equity use other people money to do the deal instead of throw a portion of the money to keep doing flips

So I can take that money and buy a lot of rentals

Cash flow important to me..

I am fully beginning to understand the concept of why money is garbage and should be invested

I thought I was doing good with a large amount of money.. but this cash flow thing has me awake all night

Is not a good feeling watching The money flow out waiting for properties to close...

I think I am doing the right move

Any suggestions opinions and overall information would be ideal and appreciate

Thank You

Carlos

[Abel Curiel]

Originally posted by @Carlos Tovar:

My name carlos.. I am based out of queens New York City

I been buying Shortsales and flipping them in queens and Long Island for the pass 4 years

I do about 1 flip every 3/4 months

I come to conclusion that I should focus more on rentals

Flips are a lot of work and the money good... but I have a constant need for fresh money every month.. and that need.. affect my bottom line tremendously

In all reality once I sell I see a nice amount of money but I am wrong to think.. that I should probably sell some of the equity use other people money to do the deal instead of throw a portion of the money to keep doing flips

So I can take that money and buy a lot of rentals

Cash flow important to me..

I am fully beginning to understand the concept of why money is garbage and should be invested

I thought I was doing good with a large amount of money.. but this cash flow thing has me awake all night

Is not a good feeling watching The money flow out waiting for properties to close...

I think I am doing the right move

Any suggestions opinions and overall information would be ideal and appreciate

Thank You

Carlos

 Good morning Carlos,

I totally understand where you're coming from. Finding a good deal is a full-time job of its own. Then once you find it, you're looking at a 3-6 month turnaround between negotiation, due diligence, acquisition, rehab, marketing, negotiating (as the seller), title, financing and closing the sale. 

Doing all of that to then have to find another deal and do it over oftentimes makes people think more about buy/hold.

I think your head is in the right place. If you're looking to build a portfolio in Queens, I recommend Southeast Queens for the best value-add opportunities. If you're thinking about Brooklyn, South Brooklyn is a popular option for folks beginning to build a rental portfolio - Canarsie, East Flatbush, Cypress Hills, East NY, etc. 

Best of luck to you on your journey!

Abel