All Forum Posts by: Rafael Norat

Hi Dawn.

San Diego isnt in my space right now, but I would suggest either finding a local here on BP or going to your local investor network groups by you. You can find them on meetup.com.

Either way, you can hopefully find someone with experience there that may be able to help you through.

Best wishes!

Hey Fanon,

Congrats on getting started. I would imagine the partner would want you to have some skin in the game. In NJ, we have hard money lenders that will fund 80% acquisition, 100% rehab. Maybe consider that and running it yourself? Or partnering up with a GC on the 20% acquistion due?

Hey Gavin. Congrats on finding BP!

This is a great community to learn and network. Take your time and build. You can pretty much find anything you need here.. locally and nationally. Plenty of wholesalers here. Good podcasts on that as well.

Best wishes!

Over 10k.

I was able to build a partnership that helped me establish a porfolio of currently 17 units in PA and start up 2 flip projects in NJ.

IN NEPA Real Estate Group Event Tomorrow August 12th!!

Just a reminder for tomorrows meetup event at Wilkes Barre. Come network and have some fun!!

If you are interested in flipping, rehabbing, wholesaling, landlording, money lending, real estate sales, or any other facet of real estate – please join us and have some fun!

We are IN NEPA: Investors Network in Northeastern PA

When: Aug 12th, 7-9PM

Where: Grotto Pizza at the Wyoming Valley Mall (back room)

Cost: $5 (Pizza included)

No sales pitch, membership fees, or obligations. Just bring your appetite and bring your deals!

Thanks again.

Rafael Norat

Good People Good Homes

www.goodpeoplegoodhomes.com

I’m sure there are seasoned Buy & Hold investors here on BP who have accumulated their wealth in small towns, C- neighborhoods, low-cost multis and SFRs, who completely disregarded appreciation as a main focus and directed their attention to other factors such as:

• Cash Flow
• Equity increase through mortgage paydown by tenant
• Depreciation
• Tax Deductions

If so, please SPEAK UP!

I myself have accumulated a couple handful of units in one of these “$20k purchase neighborhoods” that seems to be increasingly frowned upon here as poor, long-term investments.

It seems as if these areas get a bad rap for the same reasons any other investment opportunities do as well: false advertisement.

As with any investment, there are pitfalls to avoid through education and good team building. Sure my tenants my create some issues and my older building may have some leaks at times, but through good planning and a great team I mitigate this well and create a great long-term investments.

I know many seasoned investors who have successfully invested in these types of areas with long-term, 15-20 year plus success. I myself had limited funds to get started and found such a neighborhood to invest in when other markets were out of my price range.

If you have long-term experiences that justifies such areas for wealth-building, please share your thoughts so newer investors can hear about your success as well. There are plenty of horror stories to go around in any type of investment, including higher appreciation areas with less cash flow. But that shouldn’t stop you from investigating thoroughly and deciding which one works for you.

I firmly believe that practically ANY market has investment potential as long as YOU are properly educated to assess the opportunity.

Enjoy your Sunday!

Rafael

@Ibrahim Hughes send me anything you get in the Sparta area to look at. I have a good team in place there.

@Larry Schuffman thank you! I will reach out to him.

Hey Marquise,

There are many many effective ways to hold your real estate. Each way seems to have its pros and cons. LLCs do provide asset protection in the sense of separating your personal assets from the business. I have 2 PA LLCs which each hold about 8 units a piece. I then use another LLC to hold the rent collections for the entire portfolio. Once again, this just removes my personal name as far as possible to separate my personal assets.

Do you have an accountant? I'd suggest syncing up with them and their real estate holding strategy, as there are many effective choices. Some feel fine holding in their own name with an umbrella policy.

Hope that helps!

Rafael

Hey Dhiren. Good to see you taking that first step! Be sure to let people know what your background and interests are. Look for local BP members to sit down and chat with as well. Take your time and enjoy the process!

Best wishes!

Rafael

Much appreciated Ibrahim. Was about to reach out to you. Everything good in Newark? Drove by there to go see Kevin Hart at the Prudential Center on Saturday night. Good things happening around Red Bull Arena.. I know somebody's making some money!