All Forum Posts by: Michael DeAngelo
Michael DeAngelo has started 3 posts and replied 8 times.
Post: Start with sfr or jump right in to multi

- Saint Peters, MO
- Posts 8
- Votes 1
Let me start with my end goal, which is to gain financial freedom. Which is to say that I no longer need a traditional job. I am new and do not have any properties other than my home. I want to eventually become a medium to large mfr investor. Initially I thought starting small such as sfr and working up to duplex to 4 family to small apartment building and eventually making it up to the large units I want was the best strategy. I'm pushing 40 and want to make sure every step I take is a step towards my end goal and i'm not so sure that starting with sfr is. Thoughts on where to start when my plan is to invest in large mfr?` Keep in mind i'm still in information gathering mode, I have ample time each week to devote to the cause, and when I say I don't want to work anymore what I mean is I don't want to work for someone else anymore.
Post: Thinking of Getting started in Real Estate this 2014? The Five Best and Worst reasons to Invest

- Saint Peters, MO
- Posts 8
- Votes 1
Well said @James Wise ! I agree wholeheartedly and couldn't have said it better. I'm currently getting things in place to start investing later this year (mostly waiting until I have move reserves saved up). My driving motivation is not that I don't want to work anymore, but rather that I don't want to work for others anymore. I have the drive and expectations that i'll have to work harder to make it on my own than I do working for others, but the visions of financial freedom are my driving force.
Post: building my roadmap to 6 figure income and beyond

- Saint Peters, MO
- Posts 8
- Votes 1
Thanks, all good information. Time to read and study so when I have my reserves built up i'll be ready to jump in.
Post: building my roadmap to 6 figure income and beyond

- Saint Peters, MO
- Posts 8
- Votes 1
Thanks for the input. @Duncan Taylor I will definitely follow your reading advice and look for the book you mentioned. I do plan on starting to acquire sfh's as rentals and hopefully will be able to start later in the year when I have some reserves saved up. There are lots of foreclosures in all price points close by, so I was thinking of looking that direction first. I'll be honest, I am a little nervous about doing that first sfh deal and I think that's mostly because once I do that it's no longer just talk and numbers ... now i'm in the game and have the responsibilities to sink or swim. However, i'm not that concerned either because i've done most of my own maintenance and light remodeling in multiple homes i've owned. So my focus is to make sure I know enough to not fail in that first deal, but also i'm looking down the road and know I don't want to stay small. So my focus really is on the deal after the next deal and making sure I keep a good track record so I look good to potential investors and learning what I need to know now, so when i'm ready to try for the big deal i'm not trying to play information catch up.
Post: building my roadmap to 6 figure income and beyond

- Saint Peters, MO
- Posts 8
- Votes 1
So i'm at point A (tired of working for others and ready to do anything and everything to take charge of my own destiny) and need to get to point B (6 figure net income). I know I need a map, but right now the map I have is pretty blank. My initial idea to get started and get some experience is to save up and buy SFR's. That is not where I want to end. I'm thinking big. I want to control numerous bigger apartment complexes (100-150 units per complex) in c neighborhoods.
As far as financials go, i'm doing well. I have a conservative budget set that even allowing for extra personal expenses we can save $15k-$20k per year. However, that amount of excess is recent due to my wife becoming full time where she works, so no nest egg built up yet. With that being said, my loose plan for this year is to save what we can and start actively looking fall/winter. By then I should have a nice chunk saved up for down payment and reserves. After successfully managing a few SFR's, then what? Should I gradually scale up?
I know that the types of properties I eventually (sooner hopefully, rather than later) want to get into will require well more net worth than what I can bring to the table. So here is where i'm looking for advise and guidance.
What makes an investor of the caliber I would need, let go of their money? That is, other than the obvious ... to make more.
How much experience would it take to prove to a potential investor that I have what it takes?
Why would an investor settle for a percentage (or other fractional financial arrangement) if they have the money, instead of just doing the deal themselves?
I do plan on getting started going to REI club meetings in the near future. Any and all advice is greatly appreciated.
Post: new member from St. Charles MO (St. Louis)

- Saint Peters, MO
- Posts 8
- Votes 1
Thanks guys. @Jon Klaus Do you have specifics to watch out for with condos? I've been looking around on different websites (zillow/realtor.com/etc.) at properties in my area and i've seen some condos that look to be in very clean shape, in nicer areas with highway access and look like they'd be a profitable deal. However, I have been looking primarily at foreclosures, if that makes a difference. Keep in mind at this point i'm just trying to get a feel for the market before I commit to anything. I've visited the HOA websites for a few of them and looks like the fees range from about $180-$220 /month and are in newer buildings/developments. It just seems to me standing on the outside that it would be a good bet having some of the bigger maintenance things taken care of. I've read some posts basically saying the same thing you did so i'm just trying to understand why and what the issues tend to be with condos.
Post: new member from St. Charles MO (St. Louis)

- Saint Peters, MO
- Posts 8
- Votes 1
Originally posted by @Will Bradford:
I've been around a little, I worked for St. Louis Fire Dept/EMS for about 3 1/2 years. Then I thought i'd try working rural and went to Pike County (which wasn't really a good career move) so I was fortunate enough to land my current at North Jefferson County Ambulance District.
Post: new member from St. Charles MO (St. Louis)

- Saint Peters, MO
- Posts 8
- Votes 1
Hello all, i'm new at the real estate game and looking for (and finding) all the information I can. My only real experience is in homeownership and fixing up different places I have lived. I'm no expert but can do a decent job at many smaller fix-up jobs ... jack of all trades, master of none. Currently i'm a paramedic and love this profession, however i'm growing increasingly tired of working for others and want to start working towards building my future in real estate. I'm mostly interested in buy and hold and plan to start small with probably a condo. After building experience and confidence I eventually want to work up to multi-families. I want to grow this business aggressively and because of my job I have the time to do so. My biggest limiting factor will be funds I think, so i'm thinking after 6 months to a year of successful rental experience I will focus hard on securing other investment funds.