All Forum Posts by: Juan Reyes

I would definitely consult with a real estate attorney and avoid any headaches. Many times its cheaper to spend the extra money upfront then have a headache later. I don't necessarily see a need for a realtor as the attorney should be able to help with an analysis as well. Best of Luck!

Hello, I would first make sure that you have good Comparables to help you figure out what the house is really worth. I would also make sure you get good Comparables to help you figure out how much you can really rent it out for. If your cousin is experienced he should be able to help you but you should also learn how To do it. I would also work on getting pre approved and figure out what your budget is. Most importantly before I purchase the property I would pay for a home inspection report to make sure I am not missing any major issues. Make sure your math makes sense, there are many resources here in BP to help you figure out how much should be accounted for things like vacancy, repairs, etc. make sure you read it and study it. Once you've worked on a deal before you out any money down I would share the details with the BP community and ask for suggestions. People here are very well versed and will give you some perspective as well. Ultimately the final decision is yours, however it is very important to be as educated as possible. It's great that you have your cousin to help you, but make sure you take control of your decision because ultimately you are the one that will have to deal with any issues. Best of luck and feel free to reach out with any questions.

Welcome to BP!

Welcome to BP, you should try establishing a relationship with local realtors. Although I am sure you will get alot of responses from the community here at BP. 

Best of Luck ! Feel free to reach out if you have any questions

Welcome to BP, make sure you listen to the podcasts they are very helpful as well. 

I think it depends on what type of deal you are getting. I know some investors in Poconos PA that have complained about a lack of appreciation due to the fact that they never built any type of train to NYC as Connecticut and NJ did. However, as mentioned in the above posts there is alot of opportunities depending on your specific situation and goals. I myself have looked and am still looking for something in the poconos.

Originally posted by @Jon B.:

I'm in Queens and looking to house hack a 2-4 unit in Port Jervis or Middletown as my first investment... But after that I've been doing research in Scranton, PA, Lehigh Valley and Philly areas since I know them well and can get relatively cheap deals on.... As far as out of state goes, Indianapolis looks good and so does Kansas City.

 PA has always interested me as well, however, depending on the area commuting to the city is not practical. For this reason, I have heard investors in PA complain, that properties have not appreciated as they had hoped. This is something to consider in my opinion. 

depending on your situation, some risk may be mitigated with insurance, however, there is definitely liability issues to consider. Although, if you find a great deal, I wouldn't let it paralyze me. Make sure you consult with an expert to help you work out the kinks. 

@Harry Wilson I would make sure you visit whatever area you want to invest in, a few times. Make sure you get a feel for what it consists of. Some areas, especially upstate require a strong stomach to invest in but at the same time may be rewarding as well. 

@Will Bert You should definitely consider New Jersey as well, I have seen many interesting deals there as well.