All Forum Posts by: Alex Monaco
Alex Monaco has started 5 posts and replied 8 times.
Post: How much to pay passive investors in my flips?
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
Hey all,
I am beginning to come across more and more fix and flip opportunities. I use a hard money lender for the purchase and the rehab. I typically need to bring $75K-$100K to the deal for the down payment. I would like to start raising private capital to help with that cost so that I can do more. What do you think is reasonable to pay as a return. Any investments I would receive would be strictly passive. I am finding the deal and handling it all. I have heard 10% return is good. What do you think?
Post: When to hire property management?
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
Great answer thank you. The short answer I know is that it depends. I want to get a feel for what everyone does so I can compare to my situation. Thanks again.
Originally posted by @Nathan Gesner:
Originally posted by @Alex Monaco:
How many doors does everyone get before hiring management?
That's very different for everyone. If you're a heart surgeon making $650,000 a year, handling phone calls from tenants making excuses for late rent is not a good use of your time. If you live in California and have rentals in Idaho, managing them will be difficult.
If you live in the same area as your rentals, there are still a lot of factors to consider. Are you working another job? Full-time or part-time? Do you want to spend more time with family? Are you skilled at management, or have you just been lucky so far?
In general, a single person can manage 75 - 100 rentals on their own as a full-time job. But even that depends because there is a big difference between managing 75 single-family homes spread around town vs. three apartment complexes with 25 units.
Post: When to hire property management?
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
How many doors does everyone get before hiring management?
Post: Any landlords have experience with natural disasters?
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
The basement of my 4 family investment property in NJ was flooded out in Hurricane Ida. All mechanicals were destroyed and I didn't have flood insurance as it was not in a flood zone. It doesn't look like my insurance company will help much, and FEMA does not help with investment properties. My accountant said the government will probably allow help through writing it off and maybe even pulling money out from prior years expenses. Wanted to know if anyone has any experience with this or similar stories. How did it work out for you?
Post: Buying an old house
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
Thank you all! Great advice.
Post: Buying an old house
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
@Kevin Sobilo thank you! A lot to consider but I get the idea. Very helpful.
Post: Buying an old house
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
What do you think of buying an old home (1900)? Is that too old for a buy and hold? House is well maintained and numbers are great, I’m just concerned of age.
Post: NJ Real Estate Agent/Investor here
- Real Estate Agent
- Manville, NJ
- Posts 8
- Votes 2
Hi all,
My name is Alex. I live and work in the New Brunswick area. I am a real estate agent and newly a real estate investor. I just bought a 2 family home as an owner occupant. I am looking to buy more rental properties soon. I plan to buy 10 in the next 5 years. I want to hear about how others find deals and get financing.
I'm glad to talk to anyone here. I would be happy to meet a potential mentor. If you or anyone you know is in need of a real estate agent, I can absolutely help.
Alex