All Forum Posts by: Gino Barbaro

@Blake Habyan

Hi Blake

The fact that you are on BP and educating and preparing yourself means that you are ready.  I think working in a real estate office would be a fantastic idea, just to get experience working with agents and seeing their daily activities.  It may also give you an idea if you like the business

Try to find a niche you will think you want to get started in and learn as much as possible

Good luck

@Orion Walker@Jake Stenziano

Hi Orion

That is great news. Just make sure to ask tons of questions and find out his motivation for selling. See if you can solve his problem.  Ask the unit mix, expenses, vacancy rate, general operating questions and how long he has owned the property.  Also find our if you can assume any current financing

Sounds promising

Let me know what happens

Gino

@Joseph Gibney

Congrats Joseph

It's a great city. Don't be afraid to push the rents. 2 beds in c properties range between 550-650 per month

Give the tenant quality but be sure to get compensated for your efforts

@Jean Paul Rousseau

Hi jean paul

Isn't a c corp double taxed?

I would look to purchase some typeof multifamily   property that will allow you to achieve some type of economy of scale as well as spreading risk.  One vacancy in four units is manageable.  A vacant single family home is potentially a huge problem.

@Nathan Wandell

We started out small self managing and have grown to 520 units in 2 1/2 years.  We formed a management company but may have to look for a company ourselves.

I will search around and get back to you.  I have just landed in Knoxville and am going to visit a deal

I would look at irem.org for management companies.  

@Nathan Wandell@Jake Stenziano

Hi Nathan

Congrats on getting into real estate. Nashville is an emerging market and has definitely seen nice appreciation. Renting out the house is a good idea. The only issue I see with SFH is when the property goes vacant for a couple of months there goes your cash flow and mortgage payment

I own assets in Knoxville tn and your state has many great cities to invest in

Good luck

Gino

@Logan Hicks@Jake Stenziano

Hey Logan

Have you ever considered partnering with someone who has a strong balance sheet

You may not control 100% of the deal but 50% of something is better than 100% of nothing

You can charge an acquisition fee to put together and management fee to run

If deal is strong you should have no problem finding a money partner

Gino

@Jack Randall

Hi jack

I would start out with basic investing books such as robert kiyosaki  rich dad.  I also like dean grazioso.  It is a great idea to learn the differences between asset classes such as stocks and real estate

I would then move onto a specific strategy like buy and hold and then visit your reia in your city.  Speak to a few brokers who deal in your niche

I would also follow posts on BP.  At some point in your career I would seek out a coach for guidance, direction and education.   When you invest in your education it will come back to you tenfold.

Good luck 

@Oraude Boston@Jake Stenziano

Hi Oraude

I look for a 10% cash on cash based on actual numbers, not seller proforma.

When you have repositioned the property, the cash on cash will be higher based on your success.

It may be difficult to achieve 10% in Northeast.  My market in Putnam County NY is tough. That is why I am investing in another market

Gino

@Account Closed

Hi Margie

It's great that you are starting young.  There are countless books out there on real estate investing.  You should seek out a mentor who is investing and figure out what type of strategies you find most appealing.  Pick a niche and learn as  much as possible

Good Luck

Gino