All Forum Posts by: Alex Curtis
Alex Curtis has started 1 posts and replied 2 times.
Thanks for the advice everyone! Seems like Duplex is the way to go if possible. If not I think plan b will be to buy a single family house in good condition, touch it up and rent it out. If you have better advice please lay it on me.
@John Arendsen I completely agree, I'm not cashing out any stocks right now with the market down. I'm going to leave my mutual funds and index funds untouched since those are long term investments anyway and take out some of the more speculative investments I made when they're in the green again. I still plan on investing in stocks/funds but I might want to have a portfolio more like yours. A better education and more experience is obviously needed on my end.
@Account Closed Thanks for the link. Another option is Jersey City where the properties are relatively cheap and very close to NYC. Just have to find a good location and hopefully good tenants.
Hey everyone,
I'm new to REI and I'm doing a lot of reading about it. I currently own stocks, bonds and mutual funds and while there are a lot of pros, there are also a lot of cons. I don't like that I have little control over my investments. I'm planning on taking most of my money out of stocks once the market picks up again and keeping it in a savings account until I'm ready for my first Real Estate Investment.
I'm thinking about either House Hacking, investing in a Single Family House and renting it out, or buying a Student Rental house (single family house rented out to college students). I figure by the end of 2016 I should have about $16-20k to invest.
House Hacking
Should I look for a duplex, a single family turned into a mother/daughter, or just look for a great deal on a single family and turn it into a rental myself? Would be in the NYC/NJ area where the real estate is more expensive.
Buy & Hold
I figure I should live within 30-45 minutes of the property so I can manage the property myself. Looking at properties around $100k if I can get a discount, put 20% down and get a 30 year mortgage. Any advice?
Student Property
If I bought a Single Family House to rent out to students it would be in a location 3 hours away and I would most likely have to hire a property manager. Real Estate is cheap in that location ($100k and below) and a single property can bring in $14k/year of rental income plus I know the area very well.
Where would you start if you were me?