All Forum Posts by: Farshad Mansouri

Thanks a lot Henry.  I'll need to define Class A and B properties, but I'll figure it out.  I appreciate the advice.  I do want to stay involved, so I can learn, but totally agree that I need to let people do the leg work for me.  Need to find people I can trust.  Thanks again!

Hey community, I am a resident of Allendale, NJ. I am a physician with little time to put into real estate investing, but I very much want to BRRRR and build a portfolio. I am tired of working long days, and need outside streams of income in my pursuit of slowing down and eventually retiring. I will be taking a HELOC out on my house soon, so I am finally looking to make some moves in Real Estate. I owned a Duplex and house hacked about 15 years ago in Buffalo NY, and did well with it, but I need to do more now. My biggest issue is TIME. I work all day, then have family at night. But I do have capital to invest, so I need to make it work. Thanks a lot!

@Jake Lipowski

Hey thanks for the thorough reply. I trained in Buffalo, and met my wife up there. I live in NJ now. The housing is obviously more affordable up there, but after running the numbers, it seems like I could $800 of cash flow a month on a duplex! That's AFTER accounting for the 30% a month to pay for vacancy/maintenance/CapEx/management. And I have connections to incoming graduate students. And I still have family up there if I need something in a pinch. Buffalo is a great place, just cold for too much of the year for my taste. I'm an 83 degrees and sunny kind of guy. Thanks for the help!

Hey community. I’m looking to build a team in Buffalo, NY, for some out of state investing. I am in New Jersey. I am looking for recommendations for Investor Friendly:

1. Real estate agents

2. Contractors

3. Property managers

4. Mortgage brokers

Thanks a lot in advance.

Farshad

@Kenneth Garrett

Great. Thanks a lot!

Thanks all. 
And just to be clear, you’re calculating a percentage of the rent? Or a percentage of the mortgage? 

Thanks in advance for your help,

I am looking to BRRRR.

I was wondering What percentage of the mortgage amount would you set aside every month to cover the eventual cost of taking care of a property. Numbers I’m specifically looking for are the following, but please add to the list with your recommendations:

Vacancy (10%?)

Cap Ex

Maintenance (10%?)

Prop Management

Utilities that you are covering

In other words, I want to find a property where the rent covers the mortgage, as well as all those expenses because eventually they will come up.

Hey community, for years I have wanted to dive into Real Estate investing, and this year I am making it a priority. I have house hacked a duplex once, and had a very positive experience. I am now looking to build my team, find properties. I want to Buy and Hold for the long term, using the BRRRR method. I live in Northern New Jersey, and while I would love to buy property here, the cost may be too much. So I may actually start investing in Buffalo, NY, where I have family. If anybody is willing to share the Rockstar members of their team, I would be grateful. I am looking for a Property Manager, Lender, Agent, and Contractor, to get started. I would love recommendations for BOTH areas. Thanks so much! And if I can help in anyway, please message me. I know any bit of help I can do is something I will learn from.

Farshad

Hey! Sorry for the delayed reply.  No, I actually use a PC.  My wife has a Mac, but I can't make the conversion.