All Forum Posts by: Beau Alesi

Hi Beau, it sounds as though you guys are looking in a desired neighborhood as well. Considering that, you are likely going to see appreciation year over year, which essentially will be additional equity you'd capture just by simply living in the home. It may even be higher than 5% depending on the area. Some areas on Long Island tend to appreciate even more. That is not exaggerating. Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. Additionally, you may be planning on living in this future home for some time. We are definitely likely going to see a drop in interest rates, which means you could always refinance in the future too to further reduce your monthly payments.

Thank Bryan. We currently have fixed interest rate at 2.85 on one home and 3.25% on the other

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Long Island, New York

So can anyone guide me on?

1. How to find investment deals on undervalued properties.

2. How to obtain funding from equity in homes? Thanks

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Quote from @Paul Lucenti:

Would you rather have monthly cash flow or would you prefer a quick pay day after 3-6 months?

some like to fix and flip some like to hold for cash flow, figure out which you like and take it from there

Monthly...so guess rentals.

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Quote from @Paul Lucenti:

It depends what you're looking for. Everybody is different, some people like flipping, some like short term rentals, some like long term rentals.

Figure out which best fits you and your personality and take it from there.

Hey and thanks. How would I determine which is best for me?

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Ok so a diff path then my previous post.

I also wanted to invest in real estate but just assume( and bet is probably true) that most of the people that find truly good investments have either or all of the following the most "average joes" don't:

1. Inside track to properties before they go to market/general public.

2. The substantial cash need for large down payment or all cash that most others don't have . I assume most very ggod deals are all cash.

I mean I highly doubt( but sure there will be other who say otherwise just because) you will find a very good investment property listed on MLS or other publically available service.

On a side note if I did have aprroximatley 400k equity in two of my homes could I use any of that to invest in another property? Is it hard to pull that type of cash out of a property? THank you very much,

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Thanks a lot. I did run the numbers and it seems I'd be accruing more debt with higher mortgage than currently. That if I kept the rental.

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Long Island, New York

Hi so we have one primary residence with about 400k equity and a rental property what about 300K equity. Each mortgage we have about 250k left on. I'm 50 years old and my wife is 44 and we have a 4-year-old. My wife wants to move to a better neighborhood with good school districts and I'm for it. The houses would be looking at I'd imagine would be about 7 to 800 k taxes would be about 4K hire a year. So basically in my mind this would not be a great financial move as we be accruing about 200k more in debt if we were to sell one house and take the cash from there and use it as a down payment. Thoughts? Thank you very much

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Long Island, New York

Meant to read "they were originally suppose to have 5"

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Long Island, New York

Hello. So we own and inline hi ranch . We have a bangledesh family who lives there's. They have a total of 7 people living there . The were originally suppose to have to but had 2 more family members come over feomt thier country . We are charging $2,500 . They pay utilities and we pay water. They house is in very good condition. I drew a quickly lay out . Sorry for not measurements on 2nd level. Kitchen is not size and walls were blown out so it's open . Bedrooms are about 10'x12' if I had to guess . Appliances were new and everything was in very nice condition when they moved in 2 years ago. Do you think we're charging too little ?? Thanks

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Long Island, New York

Quote from @V.G Jason:

Quote from @Beau Alesi:

Quote from @V.G Jason:

Quote from @Beau Alesi:

Quote from @LeeAnn Owens:

Quote from @Beau Alesi:

Quote from @LeeAnn Owens:

Quote from @Beau Alesi:

Quote from @LeeAnn Owens:

Hi Beau! A couple of questions. Are there good tenants there? Long term? Is there something you would invest the money into that you would make from selling that property? If you don’t sell to them are they leaving?

The tenants are good .My wife thinks it makes more sense to keep it. We could walk away $240ish now but in 10-13 years we could potentially walk away with double that or close.

You’d save money selling directly without an agent. You could take that $240k and split it as a down payment between a couple of properties.

OR you could do a home equity loan on that property, and pull out $240k to buy a couple of properties, then have 3 rentals instead of 2

That's nice of you to share that advice, thanks. By properties you mean investment properties I assume?? I imagine it's not that easy at all to find investment properties.

Yes, investment properties! You can find an investor friendly realtor on this site!

Thank you but I'd imagine not easy to find good deal easily.

Right, it's not. Most of the agents here are trash, unfortunately. Not all, but most.

To answer your question-- what do you want to do? Do you want to be a landlord, do you want to cash out and invest some place else? And then how do you currently sit, do you have a stable W2, do you have an emergency fund, how much debt do you have?

Those personal questions are the one's that really need to be answered, then this asset's future decision can be decided.

Thank you appreciate it. I don't mind being a landlord. I would love to own multiple investment properties but was always under the assumption that you had to have an inside track that the general public does not have to get these. Have stable W2, EM fund and 401k with good amount $.

You don't have to be on an inside track-- that actually made me laugh. There's no secrets man.

Read this forum--tons of chicken sht idiots making it somehow.

You have to have the willingness and a good temperament to manage this. This won't be passive, this is a long-term view, etc. If you want to pursue investment properties, my recommendation is to see how much funds you can truly invest(downpayment, reserves, plus buffer) and see where this lands you in a price range. Once you're comfortable understanding what's at risk-- your time, money, and everything in between even relationships. Go to some real estate meetings and network locally-- and start working from there.

You're house hacking right now given the sounds of it, I personally wouldn't veer from that. And a wife that agrees with that is one in a billion, I'd say you're in a better spot of 98% of REIs on this board. Go read the material to start learning how to invest, not a high bar but there's no secrets. You seem more equipped, it's now just a choice of do I really want to get involved as there'll naturally have to be an interest in it to do it.

Thank you and do sincerely appreciate your feedback. So to get an investment deal the house needs to be bought at below market value I'd assume, correct? Why would or does a house ever go for LESS than WHAT someone COULD get for it? House worth $300K as is but is being sold for $230k. Never happen I'd say. Or even a house going for $300k but fixed up could go for $500k and needs $100k worth. Would not be on market very long at all I'd say.

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Long Island, New York

All Forum Posts by: Beau Alesi

Beau Alesi has started 22 posts and replied 81 times.

Post: Looking to buy

Post: Investing In Real Estate

Post: Investing In Real Estate

Post: Investing In Real Estate

Post: Investing In Real Estate

Post: Looking to buy

Post: Looking to buy

Post: How much can I get

Post: How much can I get

Post: Sell or keep