All Forum Posts by: Nick Rutkowski

Hey another fellow New Yorker interested in REI. Welcome to the group! If you have any questions feel free to PM me. What parts of New York are you investing in? Nick

Hey another young investor! I started out by looking for deals online. Go on YouTube or google how to compare properties. This is an essential skill you need to learn. Find active and sold properties and start comparing. As an agent, you tend to do this all the time so you get a lot of practice. If you don’t get your license use Zillow, realtor, or whatever site you want to use.

Ha, my best friend said you need a job and your own money to invest in Real Estate. He was right about the money, but wrong about who had to own it. Now I’m buying my second investment property and he’s still living at home with his parents. Oh the job? He was wrong about that too, I started a business instead. Now I tease him and say he needs to buy a house and get a job...slacker! Looking back, I never let that stuff get to me. 99% of the people I talk to don’t do what I do, I take their advice with a grain of salt.

Hey Daniel, Welcome to BP, what States have you considered investing in?

I was in the same boat as you last year. No job, no money, and a real estate license. I bought my first property all cash on auction. If you want it that bad, you’ll figure out a way to get it. Maybe you could partner with your father? I partnered with my family members to raise the cash. Put your license to use and find good deals and sell them to other investors. (Cherry pick the great ones for yourself) Whatever you do, don’t let anyone tell you you can’t do it.

Have you tried buying the non-wax rings? I used them on my toilets and its been working so far. 

You should expect your agent to do their fiduciary duties and to work in your best interest. Take into account who your hiring as an agent. Some agents on my board aren't as flexible to do video tours as others. Their reasons could range from liability to not having the skill set. This could make a good qualifying question the next time you use an out of state agent. 

The beauty in Real Estate is the freedom and potential to do whatever you want. You can be as active or passive as you want, essentially you'll be one trying to find meaning in what you do. Then again, that applies to anything you're passionate about.

I use my rentals as a way to propel and supplement my passions.  Although when you're starting out, you'll be spending more time building your portfolio than spend time doing what you're passionate for. 

Screen, screen, screen, your tenants. Also, make sure you check their references and past landlords. Class D renters tend to have poor credit, therefore you're most going to have to base your screening off of their character. Get the whole story about your tenants and never just take their word. I'm firm but fair on my tenants too, you're basically acting as their 3rd parent. 

Thanks everyone, 

Its our local credit union, we have a decent relationship because we used them on our last project. I figured cleaning and removing trash was the best way. I looked up that appraisers may take my scope of work into consideration, what is your experience with that?