All Forum Posts by: Lou Tomczak

Hey all,

I just wanted to introduce myself and say that I'm looking forward to learning more from the community here. 

I'm looking to get into real estate investing, but it's all quite overwhelming and it's difficult to know where to start! After my initial research, I think I might want to try looking into a rehab/flip or rehab/rent (buying fixer uppers in established neighborhoods, ideally where I can eventually build an ADU on the lot,) and down the line move towards lots zoned for multifamily properties on large lots (to maximize the real estate, or have off half the lot and build another dwelling on the new lot.)

My first question - does the above plan seem to make sense for a newbie investor?

My second question -My big conundrum.... I live in NYC and wouldn't plan on doing this here. My question for those more experienced. Is anyone having success doing this/managing the process in other states from a distance? 

Any insight would be greatly appreciated. Also, if anyone wants to steer me towards any helpful books or resources I'd love to hear them. 

Thanks, and looking forward to learning from you all!

Dave,

I certainly have concerns about this bull market slowing down. Prices in NYC have skyrocketed, and I'm not sure how much capital appreciation I can expect with existing properties. Property values have already increased exponentially. Even now, landlords of buildings in less desirable areas are already pricing rents 3 to 5 years out. Is a brownstone in Bedstuy going to 20mil next? I find it hard to believe... And with retail suffering the way it is, I would think there would have to be at least a small correction sometime in the near future.

I am, however, a big believer in tier II cities that are seeing some revitalization in their downtown areas and gentrification of other areas of the city. Columbus, Cleveland, DC, Houston, Austin, some cities in Colorado. I have no idea how to get into those markets, though.

Any suggestions?

I'm new here, but it sounds like lots of people like the idea of syndicates. 

I am in a position where I have a sum of money of the range mentioned in the title I would like to intelligently invest. I would love to get into real estate, but have been steered towards options like Fundrise (as I am not accredited.) However, the estimated return seems relatively low given how illiquid the investment options appear. At the same time, I don't have the time or knowledge to actively manage a property. Furthermore, being in NYC, even 20% down is more than I afford.

I have some money invested with roboadvisors that has worked out well for me and has required very little active attention, but I'm ready to start growing my wealth and would consider something a little more unconventional.

Can anyone recommend an option for someone in my position? It would be nice to get into real estate, but not have all of my money tied up in one investment for 5 years or more.