All Forum Posts by: Mike Ventura

Ryan, I feel your pain my man! I'm a newbie as well and have been looking to invest in an area close to you - with the same house hacking strategy as well. If you're like me you can't wait to sink your teeth into your first deal. My recommendation is to be persistent in looking for properties while saving saving and more saving. That way you keep familiarizing yourself with the numbers. Good luck!

Thanks for the feedback everyone! Jason - Great point about renting the rooms. That is a major reservation for me because I'll JUST be able to afford a home in the $200-$250k range. A little too close for comfort especially if the house needs some type of capital investment. I've looked into multi families but I can't fund them at the moment. Thanks again!!

Hi Lisa thanks for your reply and the intel! I don't blame you for not recognizing Blairstown, it's way out there, about a 15 minutes drive from the Delaware Water Gap. Hopefully that gives you an idea. Fun fact about the town: they filmed scenes for Friday The 13th. I'll admit I haven't looked in those areas but will definitely check it out. I've been looking close to Blairstown so I can have my brother and parents help out with the rental should anything go wrong.

Hey BP, I hope you all are having a fantastic start to 2016 and have made strides to your REI goals! I'm looking to start investing in 2016 but am scratching my head on how to get started. I have two options that I'd like feedback on: 1. I am currently living in Huntington NY on Long Island and renting an apartment for $700 per month. Now that I've been introduced to REI I am considering buying a three bedroom home and financing the purchase with a 203k loan. Ideally I'd like to find a turn key home between $200,000 - $250,000 that needs some improvements. Nothing drastic just paint, flooring, etc. My goal is to rent the other two bedrooms to pay the expenses completely or minimize the amount of rent I would be paying. I'm confident that if I find a house in the price range above, I'll be able to successfully eliminate or decrease the amount of rent I pay while building equity in the home. My reservation is that I don't know how long I will be on Long Island. 2. I am originally from New Jersey, Blairstown to be specific. When I originally started reading up on real estate I anticipated purchasing a two unit multi family home close to Blairstown and renting the units to produce cash flow. I've targeted Phillipsburg - not the best area but there are nice areas and the town is finishing a brand new high school. I've been able to find houses in the $90,000 - $110,000 range and found that units are renting anywhere from $700 - $850. With a 20% down payment, I'd be able to pay the mortgage with one units rent and cash flow the other. My reservation is that I wouldn't have easy access to the home should there be an issue with the property. So that's the pickle I'm in. I wish I had very specific numbers to work with but don't at the moment. I welcome all feedback!! -Mike Ventura

@Michael S. I'm about halfway into the book and the information is great. I'll certainly reach out if I find myself in your area!

Hello BP members! It's a pleasure to join this community and I am excited to network with all of you! Like most members, I'm here to source knowledge and build wealth through REI.

My name is Mike Ventura and I am from Northwest New Jersey - about two minutes away from the Delaware Water Gap. I'm 24 years old and currently work as a sales executive for DHL Express. With my last student loan payment in the books (woohoo!) I'm excited to start saving for my first Real Estate investment. In a perfect world I'd like to be closing my first deal for my 25th birthday in May. What a great present to myself right?! My short term goal is to buy and rent single family homes and as my Real Estate IQ develops, invest in other forms of Real Estate.

I'm here seeking guidance from experienced investors in New Jersey and if there is any value I can provide in return please let me know! I can read every book out there but I know getting knee deep in the business and learning from an expert is the best! Look forward to your feedback everyone!