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All Forum Posts by: Nadeem Alamgir

Nadeem Alamgir has started 2 posts and replied 707 times.

Post: Out of State - Looking to Connect

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Hey Trevor, if you’re looking at out of state investing for cash flow, I’d recommend checking out Cleveland, OH in the Midwest. The price to rent ratio here makes it possible to see strong cash flow after factoring in maintenance and loan/interest. Duplexes especially tend to perform well.

One thing to keep in mind is that a lot of the B/C class homes in Cleveland are older. That usually means older HVAC, windows, garages, and other items. Most have been maintained, but you’ll often run into outdated systems or finishes along the way so just something to factor into your numbers.

Post: Starting from the ground up in Cincinnati Ohio

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Welcome to BiggerPockets, Hayden. House hacking is probably the easiest first deal you can buy to get into real estate. Best of luck in your journey! 

Post: Newbie Joining BiggerPockets

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Glad to have you here, welcome to BiggerPockets! 

Post: New to Bigger Pockets

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Welcome to BiggerPockets @Vincent Mangino!

Post: Brand New to Out of State Investing -with Tristate or Northeast Region

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Hey Barbara, I grew up in Queens, NY, and later moved to the Midwest for a real estate opportunity. When it comes to NY, especially with something like a house hack can become competitive.

If you’re open to out of state investing, it can give you a lot more options for affordable entry points and cash flow, but the key is building a solid team on the ground. Team members you should add to your team: local investor friendly agents, property managers, and contractors who already understand the markets.

Post: ARV Feels Kinda Arbitrary — What Really Goes Into It?

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

You just want to make sure those comps are also renovated when pulling ARV. If you renovated the kitchen, baths, roof, etc, then you should only be looking at sold properties in that condition. To avoid overestimating, I would run the numbers conservatively for example, if the comps are $180k-200k, I would use $180k as the ARV. You want to give yourself a buffer.

Post: Buying apartments/condos vs single family homes

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Hey Rebekah, condos look affordable but you'll have to factor in HOA fees, and like you said, the management. Many investors avoid condos due to the lack of control and additional fees. I would run numbers on for both single family deals and condos but in most cases single families make more sense.

Post: Is a RE license beneficial for investors?

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

I would consider getting your real estate license and joining an investor focused brokerage in your market. Starting out joining a team can help, you can shadow other agents and after you save up you can start investing yourself. 

Post: Foreclosure for starters

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

Foreclosures are one way of finding discounted deals, but they’re definitely not the easiest to lock up. A lot of them need heavy rehab, have title issues, or attract all the local cash buyers, so it's competitive. I would just try to find an investor friendly agent in your market instead and reach out to some wholesalers through online communities to source discounted deals if that's what you're looking for. 

Post: Getting started as an investor with some questions

Nadeem Alamgir
Posted
  • Real Estate Broker
  • Posts 728
  • Votes 524

It’s not always necessary to set one up before your first deal. Many investors purchase their first property in their personal name and transfer it later if it makes sense.