All Forum Posts by: Reece Iovine

It depends on what returns you hope to see. I will never invest in REITs because the returns are abysmal compared to what I can make full time or even part time investing in rental property here in columbus ohio. Syndications are great for someone that wants to remain a passive investor or has too much money and needs to invest in bigger assets that they can't handle with their team. I like control of my money therefore I won't give it to a GP to manage in a syndication. However if you lack time either of these options are better than not investing in real estate at all :)

IMO depends on goals, and interest rate. Usually if your goal is growth its better to hang onto debt as long as it's not costing you a ton.

If I have 10k on a credit card and 10K in cash do I pay off the card or invest in another property. Well if the cc interest rate is 25% pay it off! You will most likely not be able to sustain a 25% return on a rental property (in most cases). However if the interest rate is 5% it makes sense to use your cash to buy a rental as you can earn substantially more than 5% on your money.

Great work. Nice to see agents going above and beyond to help clients get great deals!

I recommend less work. You already have a job, real estate does not need to be a second job for you above and beyond your 90 hr work week. Yes you can usually make more money with a bigger renovation, however also weigh your sanity and the longevity of your real estate career. You will already have a lot to learn buying your first property, If you complete the first deal and feel you had time for a larger renovation then take that on on the second deal :)

happy to help :)

@Carl LaPiedra Absolutely happy to help :)

@Carl LaPiedra If that is all a little confusing still I highly recommend you join a team that specializes in investment property. They can help show you the ropes.

@Carl LaPiedra you go to your auditor website and pull a list for owners of the property types you want to specialize in. For example 2-3 unit properties. Or you can call your local auditor and see if they can provide you a list. Then you find the phone numbers of the owners using your favorite method i use https://www.fastpeoplesearch.com and then all away. Ex call. Hi my name is Carl, im looking to purchase a duplex in this neighborhood and move into one side to get my start investing in real estate have you considered selling...blahh blahh... $200,000 shoot that's a little outside my budget, have you thought about listing on market? I could pull some market comps for you as im a licensed real estate agent and get back to yuo on what i think we could list it for... BOOM, done...you'll get a lot of hang ups and mad people but stick too it.

Question. Purchase price 205K 40K for reno ARV 250K? That's terrible. You are in it 245K and it is valued at 250K. Am I missed some detail here?

If the tenants leases are in place you cant move them out until the lease ends or you do cash for key or some other agreement.

I would not try to reno while they live there. I'd recommend just renovate as each unit turns over then rent to someone new that qualifies and is willing to pay increased rent.

@Ananeya Abebe Makes sense! Best of luck, it is a beautiful area :)