Hi everyone! My name is Shane recently bought a property in troy starting my investment journey, looking to meet local investors in the capital region and make some connections and share stories馃憢
Hi everyone! My name is Shane recently bought a property in troy starting my investment journey, looking to meet local investors in the capital region and make some connections and share stories馃憢
Hi @Shane Yando! Congratulations on your new property! @BJ Everson shared some good advice about tracking your expenses and meeting other investors. I'd also spend some time learning about the responsibilities that come with being a property owner, especially if you're planning to rent it out. Understanding lease terms and local rental requirements early can save you trouble later.
I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property purchases, leases, and other real estate matters. I've seen how helpful it is when new investors take the time to understand both the financial and legal sides of owning rental properties.
Thanks for introducing yourself, @Shane Yando! Wishing you the best as you get started. Happy to stay connected!
Congrats on the Troy purchase, Shane. Getting the first one done is the hardest step. A tip for this first year: set up a simple tracker now for rent, every expense by category, and a capex reserve, then compare your actuals to your purchase pro forma every quarter. That habit is what makes the second deal faster and safer to underwrite. Local REIA meetups are great for the connections you're after. Bring your actual numbers, and experienced folks will usually dig in with you. What's the property, an SFR or small multi?
Hi everyone! My name is Shane recently bought a property in troy starting my investment journey, looking to meet local investors in the capital region and make some connections and share stories馃憢
Hi @Shane Yando! Congratulations on your new property! @BJ Everson shared some good advice about tracking your expenses and meeting other investors. I'd also spend some time learning about the responsibilities that come with being a property owner, especially if you're planning to rent it out. Understanding lease terms and local rental requirements early can save you trouble later.
I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property purchases, leases, and other real estate matters. I've seen how helpful it is when new investors take the time to understand both the financial and legal sides of owning rental properties.
Thanks for introducing yourself, @Shane Yando! Wishing you the best as you get started. Happy to stay connected!
Congrats on the first one, Shane. For the Capital Region, find a local REIA or landlord association meeting and just keep showing up, because seeing the same faces every month is where the real relationships come from. It's also worth getting to know the Troy code and building office early, since understanding how they handle rental inspections and permits will save you time on the next deal. What kind of property did you buy?
Hi everyone! My name is Shane recently bought a property in troy starting my investment journey, looking to meet local investors in the capital region and make some connections and share stories馃憢
@Shane Yando congrats on getting the first one done. The tracker and meetup advice above is good, so I'll add something for deal two: start building your own list of owners now, before you're ready to buy. Every market has small landlords who have held for decades and are quietly tired of it, and a short handwritten note or an honest phone call tends to get a better response than anything listed. That's how most of my early deals came about. Also write down what the first property was supposed to cost versus what it really cost once the repairs showed up. That gap tells you how much cushion to build into the next one.
@Shane Yando , let's connect. Already owning a place in Troy puts you past the point where a lot of people stall. Meeting people nearby is a good next move, since a few solid local relationships tend to make the second deal easier than the first. I'd be glad to introduce you to a few good people too. Are you living in the Troy property yourself?