All Forum Posts by: Genesis Pacheco

@John Warren thank you for that information John. I really appreciate you taking the time to give me the information that you have. 

Hello BiggerPockets family. So I’m just trying to get as much knowledge as I can and I’ve been learning about your first investment should start with the highest Multifamily which would be a four plex (4units) and of course having to live in one unit for 1year. My question is here in Florida, those type of houses range probably from 400-500k so how can I get a property that will make me profit? Also what about the yearly taxes and insurance how is it possible to make profit when taxes can be as high as $4000 let’s just say. Wouldn’t all the rental income from the other units just be saved up for taxes n maintenance as well? If anyone can please explain what’s the best way to pay mortgage, annual taxes, insurance, maintenance and still make profit after all that? Thank you family

Hello BiggerPockets family. So I’m just trying to get as much knowledge as I can and I’ve been learning about your first investment should start with the highest Multifamily which would be a four plex (4units) and of course having to live in one unit for 1year. My question is here in Florida, those type of houses range probably from 400-500k so how can I get a property that will make me profit? Also what about the yearly taxes and insurance how is it possible to make profit when taxes can be as high as $4000 let’s just say. Wouldn’t all the rental income from the other units just be saved up for taxes n maintenance as well? If anyone can please explain what’s the best way to pay mortgage, annual taxes, insurance, maintenance and still make profit after all that? Thank you family

Hello Biggerpocket family. I've been looking into what market to start wholesaling in since i am new and don't really have capital. I do have really good credit though so maybe someone can help me out with using that for something, maybe buy and hold or flip? Anyways I was looking into the NJ area since it's a drive away but was wondering if it's possible to look into the Baltimore area. I know it's really good right now for wholesaling, i just don't want to drive 3-4 hours everyday. So if anyone can help me out with a way to minimize the driving maybe or a better solution i would appreciate it. Thank you in advance.

Great thank you all for the great advice and for taking the time to help me. I really appreciate it. @Thomas Franklin @Steven Stokes @Brian G.

@Brian G. Thank you so much for that. I am starting as a wholesale investor so that's why i was asking. It will only be myself who will be obtaining the LLC. Wow i didn't think it would cost so much here in NYC lol. A friend of mines just got an LLC down in Miami and it cost her around $350 or so. But yes i will see my option if it is that expensive here. Thank you again for your response.

@Alexcia White I was trying to send you a message but it doesn't give me an option too? Maybe you have to request me or something.

@Steven Stokes Thank you for the great information. I actually just finished a training that i was doing and i am ready to get the ball rolling. I'm looking to start of as wholesaling and would love to flip as well as buy and hold. The issue i'm having is that in NY the market seems really expensive especially for a rookie like myself lol. I've been looking in the New Jersey area (Newark) since it's close and i see the area has potential as well as the prices. I would've loved to start in baltimore as i see that it's "booming" right now. But its 3 hours away and i would rather be close to where i'm trying to network. If you have any suggestions i would really appreciate it. Thank you again for the info.

@Alexcia White Sorry for the questions, but how is that going for you? Do you feel long island is good for flipping? I use to live in brentwood and by central Islip and seen some houses that had potential.

@Gilbert Joseph  Thank you for the information provided.

@Les Jean-Pierre Thank you for the information provided.