All Forum Posts by: Melchor Domantay

Hello BP,

I'm Melchor Domantay and I'm a newbie investor from Berwyn IL.

I joined BP on September a day after I bought my first property, a two flat which I'm "house hacking. The building is newly rehab and it's my tenants on the 2nd floor and my buddy who's lodging in my unit is basically paying for the mortgage, property tax and PMI. However, I was originally looking for a 3 flat and I had the budget for it. However my realtor told me that I can't buy a 3 flat for FHA.

I believe her then but now I know that's not true, I could have been cash flowing :(. Anyways, I just chalk that up as part of learning and finding a good realtor for your team! Besides, this is a tweetable topic for you @Brandon Turner " You're smarter today than yesterday".

Moving forward more than 2 months, after learning the potential in investing real estate, I decided that I want to buy my next property. I don't have a lot of capital and there are still a lot to learn. I would like to do another buy and hold but my GF don't want to live in a 2 flat. Flipping is probably not a good idea because I have a full time job. 

Does anyone have a suggestion how and what kind of property I should acquire next to build my portfolio?

Thank you in advance!!

@Account Closed, Thanks for the advice,

@Account Closed, I meant ShortSale, I've read good things about Wholesale but I don't think I have enough time and experience to look for better deals than a flipper would. 

Thank you! @Pavel Yurevich

Hi @Pavel Yurevich,

Thank you, is there a way to see local events happening in my area on the site? If so, how?

Hello @John Warren,

Thanks!! I've been looking for local Real Estate Club so thanks for that info. I'd like to meet up sometime. Please let me know when you're available and PM me.

Hello @Account Closed - I'm not sure exactly, I'm just starting to create my portfolio and really want to focus on Buying and Holding. I'm interested in Short-Sale because I think theirs some potential. Any advice?

Thank you Mark Nolan!!

Hi guys,

I'm a newbie in Berwyn IL, I bought my first property in Sept of 2016. I'm looking to connect to Investors and Landlords locally and gain knowledge about the industry. 

I'm also a CPA who would love to answer questions about tax credits and such.

Hope to connect with you soon!!

Jay-R Domantay

Where in IL if you don't mind me asking?