All Forum Posts by: Manuel Savorelli

So many wonderful and educational responses from everyone on this board.  It could literally take me over an hour, and would make for a very hard to read post if I were to quote bits and pieces of each individual post that has helped or sparked an interest.  Having said that, I'd like to send everyone a "collective" thank-you.

After reading all these responses, the clear-cut option for me would be NNN investment. However, like everything else in life, there are always barriers-to-entry, otherwise, everyone would be doing it, right? After doing a bit of research on my own, I noticed that one could invest in NNN properties either locally or long distance. Also, cap-rates are directly correlated with risk involved (tenant credit rating, etc), and time of lease remaining. The biggest hurdle to overcome is clearly the start-up capital needed to get off the ground. these leases go for $M's and I need to figure out how to properly finance a deal, and calculate the ROI's.

Other options, more reasonably attainable at this point in my venture, may include building a portfolio of rent-and-hold properties that cash flow positive (preferably multi-unit), and collect passive income, while hiring a property management company to handle all the day-to-day... but as @Jonathan Twombly correctly stated, "managing the management company will take time and effort."

I'm still not quite certain as to which avenue I'm going to pursue, however, I do know that I tend to lean more towards the investor role, as opposed to the "let's go demo that wall" type of guy. Therefore, if I could figure out the proper channels for NNN investing, I think that might be my preferred method of investing.

All feedback is always welcomed.

Thanks Joel, those sound like pretty interesting avenues to explore.  I see a lot of exploring on BP and Googling in my future.

I'm not quite decided on what niche to select.  My current career requires me to travel for work from time to time and I really enjoy the flexibility it provides.  However, I'm aware that to invest in RE, one must be around and available because things often come up. 

I'm looking at various niches such as buying multi-family properties and renting out but the downside is that I would become a landlord. Also buying and rehabbing sounds appealing, but again, very time intensive .

I guess I'm looking for ideas and advice on more hands-off approaches to RE investing, that way I would still be able to maintain my current position until I'm committed to jumping in F/T and dedicate myself to a specific niche .

Thanks for reading and I welcome all feedback .

Thanks to all for responding.  I ended up making offers on both properties.  The lower priced unit (and my preferred) was more motivated to sell and I got them down another 4k.  The more expensive unit countered at full price and was "insulted with the offer" - LOL.  Once they heard i went in all cash on neighboring unit they dropped 4.9k, but since they started at a higher place, was still no match with needed upgrades.

I'm closing in 10 days on my first property/residence.

Thanks everyone 

Thanks Micki, all great questions .

Yes, both units are the same size and in the same location.  It's a gated community so layouts are identical as well as amenities. 

The complex was built in 1987 so still fairly new.  Owners have pretty much replaced things as they went down.  I believe that the kitchen cabinets would add value to both properties, as well as appliances in one of them as they are cosmetic, and would therefore stand out compared to rest of community.  

The glass sliding doors replacement would be more of a necessity, as they are standard in all units .

Hello board,

I'm writing because I need advice in comparing 2 condos for purchase.  One of these will become my primary residence.  They both need some work done.  Here are the details :

Unit A:

58000

New hot water boiler 

New HVAC system  

New condenser

Needs new kitchen including cabinets and appliances 

Old glass sliding doors need track work. 

Cosmetic patching.

Unit B:

61900

New kitchen appliances 

Very old hot water boiler - end of life 

Very old HVAC system -end of life  

Needs new kitchen cabinets  

Old glass sliding doors need track work. 

Cosmetic patching.

Also, how much do you suppose new glass sliding doors (with tracks and screens) and new kitchen cabinets would cost.

Thanks in advance, 

Manuel S.

But couldn't provide income verification?  Are they automatically denied mortgage pre-approval?  

But couldn't provide income verification?  Are they automatically denied mortgage pre-approval?