All Forum Posts by: Alex Price

@George Ozoude an excellent question. I believe the term that needs to be addressed is "Risk Management." Having a narrow focus minimizes risk as each strategy has it's own. It's also easier to manage from a PM position as you can concentrate on specific area and tenant types. As far as property types, that is another animal. Some investors find 1-3 units more attractive while others only focus on MF. That is something that needs to be discussed with your group. One question is who is going to manage the acquisitions? Outside of money what responsibilities does everyone have? Is this a per project fund or are you forming an investment fund for long term investing. Who manages the fund? Lots of nuances that go into this and definitely have to get attorneys involved. I'm sure you know all of this but it's just never as simple as pooling money and focusing on a strategy. Best of luck to you. 

@Josh Goldstein just private messaged you. 

Welcome to BP @Josh Goldstein. What an incredible story you have. Many blessings to you and your family brother. Ironically I am connecting with many investors in the Cali market who want cash flow. My partner and I are in the mid-west and have helped investors internationally do the very thing you're aiming for. Please feel free to message me as I'm happy to help in any way I can. 

Very Very Awesome!!!

Frank Mourad awesome goal! Do you have a Cashflow goal in mind along with those 100 properties?

Charlie Campanella major props on being a self taught 6 figure earner with the mindset to invest at 20. You definitely have a bright future ahead of you. You’ll be a billionaire before you know it. I’d recommend if you haven’t already become knowledgeable with the different strategies to invest and get a return on your investment. There are very seasoned investors on here who use a myriad of investment strategies. Also don’t be afraid to look at different markets, what’s hot and what’s not. There is always a hot market, there is always an up and coming market and there is always a saturated market. 1. Many investors hire experienced contractors to do the work and this is factored into the overall expense budget. 2. Property management is always worth considering however you will need to spend time communicating your goals with them and setting up to become a smooth process between you and the management. 3. I’ve always used an LLC due to the state I invest in. Depending upon which state you choose to invest that would affect which entity is best to use. 4. Stick to B and C class properties/areas Best of luck to you.

@Ethan Zhu welcome! There are a ton of valuable resources and knowledgeable investors on this platform. Congratulations on looking at real estate investing. What is your goal; appreciation or cash flow?

@Tim Nicholas that's Freaking Awesome!!! Congratulations and thanks for the post.

@Faysal Alam ok that's more clear. I'd still say continue to increase your main income as much as you can. And again by planning to stay in the NY market find a NY RE investment mentor, boots on the ground sort of thing. Perhaps you can also participate in wholesaling to raise capital. Just a few thoughts. 

@David Bardwell it's a great resource. I usually do a phone conversation or Skype before hiring. Upwork also has it's own messaging system and you can download their app as well. Hope it works well for you.