All Forum Posts by: Gina Cook

Mike Hemmer :)  He is doing a wonderful job managing my property in Syracuse.  

@Theresa Harris

There’s always investing elsewhere! I invest 6 hours away from where I live because I live on Long Island! 😩 I couldn’t touch a rental property here and it is difficult to get anything to cash flow because our taxes are through the roof.

@Miltiana Holdip

Have you thought of partnering with someone who can bring some money to the table and combine it with your knowledge and drive? Maybe someone close to you who wants to invest in something but isn’t quite as educated as you are in real estate? :)

@Toby Gingold

Hi Toby! I know we’ve chatted briefly before (I also invest in Syracuse). I am curious about how you predict your income & expenses so far out and how you determine them to be non-cash flowing at the 3 year mark? I haven’t really figured out a way to determine that. Obviously, I am buying old houses (1910/1940), so I know I am going to be repairing more often, however to know what the numbers will look like (about) 3 years out would be a game changer for me! I know I can plan for a roof or an oil burner and such items within a fairly predictable time range, but I am putting away “X” amount of dollars for those things each month already. Also, do you go to the CNY investors meetups?? I am hoping to get up to one as soon as they have their next live meeting, I would love to finally see my property and drive around the city a bit! Hope to talk soon! :)

I love this post because it is something I sometimes wonder about others too! :) Something I recently did was change my daily schedule/routine after I heard Brandon Turner talk about his wake-up routine! It just made so much sense to me.  I try to be up long before my kids at around 6:15-6:30 so that I can have my coffee and check my e-mails with a clear head.  Then, I read whatever real estate/business/self-development book I am reading for 15-20 minutes, but NEVER less.  Then I spend 15 minutes or so just checking out some of the latest forum topics on BP.  I finish this off with a healthy and yummy breakfast and by then my kids are waking up.  I feel that by doing this I am setting the INTENTION for my day which is so important.  I started my day calmly and thinking about real estate and so I find myself reminding myself of my goals during the day which can get hectic.  I also end my night with real estate by reading, doing some deal analysis, jumping on BP, etc.  Most days I probably spend about an hour to an hour and a half total doing "real estate related activities." At one point when I was first educating and newly interested in RE I was spending too much time on it.  I found that I would get burnt and I wasn't enjoying enough of regular life which defeats the purpose of investing.  Now that I have set intentions for myself every day, I feel accomplished and I feel FULL with what I have done when I go to sleep at night.  This makes me more ready for another day of educating and goal-getting.  I am a new investor with just one investment owned and one under contract, so this schedule seems to be appropriate for me right now and as I scale up I  am sure just a bit more of my day will be consumed by it, but the goal is to NOT make it a full time job of course.   :)

Syracuse, NY! :)

@Toby Gingold

Hi Toby! I just recently purchased my first rental there in Syracuse and I have one under contract getting ready to close. I love meeting other long distance investors from that area. I am from Long Island and it was definitely a huge step for me to take to jump in 6 hours away. What zip codes are your properties in?

@Jaspreet Baveja

Can you explain more about this? How can I use my 401k to be a private money lender and what are the benefits?

@Kyle Fadness

Could you give us the details of the financials? Taxes, rent per unit, loan terms.. etc? Does the property cash flow well if you had two tenants there and you rented for yourself elsewhere? did you try opening up your property to section 8? Have you done any value add to the house since you bought it? Do not give up. You haven’t failed this one yet. I am pretty new in real estate but I believe in it sooo much and I know that in most cases there is always an opportunity and a way to make it work. :)

Are you planning on moving out of your parent's house or sticking around? Message me if you want to chat about how I got started. :)