All Forum Posts by: Matthew Gangi

What are using for "expenses"? Income minus mortgage payment does not equal cash flow. Expenses most people miss are Capex and Vacancy. Then throw in the cost to manage, which most will do themselves, but should also be counted, and your $400/month cash flow might be closer to $0. Its hard to say what your missing, without knowing what your actually counting.

I haven't added in Capex or Vacancy, what % do you use for these usually?

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Originally posted by @Chris Sackinger:

Could be a ton of different reasons. You have to have your goals and criteria in view at all times. What are you trying to start with?

Well, I don't plan on doing my first deal until about 6 months from now. I'm building credit and saving (20 y/o) but just searching the market here there are like $110k properties cash flowing in the $400 range, and I see that they stay on the market. If I had the money I would be having a field day. So I guess i'm just confused about why people aren't having there own field day? I feel like i'm missing something and don't quite know what?

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I've been practicing calculations on properties on the Marketplace here on BP, and it seems like a ton of them are cash flowing very well. Why aren't people buying these properties? Am I missing a certain aspect looking at these postings?

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Why do people say SF cash flow later? If you get a deal on a SF, why would it not cash flow? Can someone explain this to me?

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Originally posted by @Tim Jones:

@Matthew Gangi

Continue to save and work on your credit. Educate yourself as much as possible in the meantime and continually search and evaluate properties. Read all the classics....Rich Dad, Richest Man in Babylon, Think and Grow Rich, etc. Join local REIAs.

Best of luck to you,

I am actually about to buy a few books tomorrow. What do you think a good number for me to get to, money wise? Thanks

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Originally posted by @John Mathewson:

Save as much as you can but also spend it on your education and invest in yourself. I would highly recommend you get your real estate license in the mean time. This will help with your education as well as bring in some extra cash if you hustle and get some listings and buyers.

I pretty much am only interested in rentals, should I still try to get my license? I want to buy and hold, save as much as I can and come in hot

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Hello BP, I need some advice on what I should do. I have about 22k saved up for investments. I am only 20 years old and made a mistake by not starting to obtain credit, so now i'm starting. I feel like I should save for a little bit longer until I get about 40k-50k and go in strong. What should I do with the 22k? Keep saving and learning? Or do something sooner?

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I am only 20 years old and I am saving up for my first investment, while learning learning learning learning. Crazy? I think I might be a little too, but the good kind of crazy. Grind now and thank yourself later. Anything is possible, and i'll prove that.

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Originally posted by @Mike Hurney:

@Matthew Gangi Welcome.

"My goal currently is rental properties, and to have my first deal within 8 months, and own 3-4 total by the end of 2018. I am saving religiously."

Good, Just Do It!

First thing they taught us in Engineering school was that aeronauticly the bumble bee can't fly but he doesn't care, he just flies;-)

You may want to check out our Movers and Shakers meeting next Friday at Kellys

What is the meeting about? This interests me, if you can message me and maybe give me a little bit more information? Thanks

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Welcome, James. I too have the same goal as you, also working in IT.

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All Forum Posts by: Matthew Gangi

Matthew Gangi has started 4 posts and replied 21 times.

Post: Am I missing something?

Post: Am I missing something?

Post: Am I missing something?

Post: Beginner's Route: SF as stepping stone or direct to MF?

Post: Need advice on what I should do

Post: Need advice on what I should do

Post: Need advice on what I should do

Post: Real Estate Investing at 18... Am I crazy??

Post: New member from Boston

Post: New Member from Long Island, NY