All Forum Posts by: Sam Amato

Thanks for asking Nicolas! I got an duplex in my college town upstate. The house costed $94,000 and I negotiated new roof into the purchase price as well. The downstairs unit is already rented out at $750/month and I just got tenants for the upstairs unit for $1,000/month. I put about $3,000 towards new windows and a few small fixes. I got a hard money loan for 80% of the purchase price and I plan to do a cash out refinance with a local lender in the next few months. The property will cashflow about $900/month once the new tenant moves in (including future mortgage payments).

Hey BP community, My name is Sam and I’m a 21 year old from Queens, NY who just recently bought my first rental property in Cortland, NY.

I started listening to the BP podcast at the beginning of quarantine and I'm very excited to get started on the forum. At the beginning of quarantine, I was thankfully able to have a job when I came back from college. I got extremely serious about growing my wealth and investing as much of my income as a pizza delivery driver as I could. I got obsessed with things like compound interest calculators and all this just made me want to work even harder and learn even more. I'm happy to say the hard work paid off as I just closed on my first property (a duplex) 2 weeks ago. I can't say enough about the value I have gained from the podcast and other BP videos. I'm looking to expand my education as well as networking with successful individuals in the community. I plan on doing real estate full time eventually so I'm hungry for all the knowledge and wisdom I can get so that I can minimize my learning curve. My goal is to own 10 rental properties in the next 5 years. "Its better to aim high and miss than to aim low and hit". 

I'm also hoping I can make it to BP Con this year to meet other investors face to face to learn about other markets and learn from their experiences. If you plan on going, I would definitely like to connect. Also, if you have any questions about my first deal, please ask I would love feedback.

Thanks and look forward to speaking with everyone,

Sam Amato