All Forum Posts by: Antonio Cucciniello

I am a software engineer.  Its probably because we love the numbers!

@Porscha March I second @Duane Brown's comment, it definitely provides good returns, especially for NJ I have 5 units in the areas right outside of Trenton

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $135,000
Cash invested: $135,000

Got my second property in 6 months by partnering up with people with money!

What made you interested in investing in this type of deal?

The rents were below market, so no one was looking at it.

How did you find this deal and how did you negotiate it?

Through the MLS, cash offer helped make our offer strong

How did you finance this deal?

My partner used a cash out refinance on his home that I had to cosign for.

How did you add value to the deal?

Nothing yet, but one of the units can use a big rennovation!

What was the outcome?

Just purchased today

Lessons learned? Challenges?

Your offer can be really creative. We offered with a contingency to raise the rents and ask for a security deposit. It took a deal where most people saw no cash flow to a cash flowing deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would recommend anyone on my team as someone that is to be worked with!

I am also looking for this if it exists!

@Conor Duffin If you make an offer and they accept, that places you under contract and the next step is to get an attorney to send out an attorney review letter.  If you have any questions feel free to reach out. I know it can be overwhelming going through your first deal.

@Nikki Closser I pay rent in NYC and I invest else where I would get wiped out if I couldn't collect rent on my properties.  This is not ok.  I signed for you! Everyone please support!!

I couldn't agree more with what @Jaysen Medhurst said.  The full analysis is needed if you are going to make something a rental, 50% rule is good for a quick check, but you need a deeper look to get accurate.

@Bill Goodland I totally understand that.  I will either have to sacrifice location or quality in one way or another.  I am willing to make some sacrifices in both areas.  How is your house hack going? 

@Bill Goodland

I would love a multifamily because my goal is to replace my rent, my issue is getting my girlfriend on board with having roommates. I have been working on it!

Have you house hacked?

@Paul Hansen Which areas are you referring to there? I work on 33rd across from Penn, so anything that has an easy commute there (right now I bike from LES). My budget would be up to the FHA limit. To start I started looking some areas in Brookyln. Would you have any properties on your plate you think would be good for this?