All Forum Posts by: Sam Bromano

Yes it is! Just PM'd the details

This is a standalone, single-family home in New Brighton area of Staten Island. About a 15 minute walk to the ferry with some views of NYC. 3br, 1.5 bath. Walk out basement. Its been leased out for the last 12 years and I'm either going to fix it up and sell as new, or just sell as is to a flipper. It needs some work, but nothing crazy. Contact me directly if interested, will send pics and details.

Looking for someone to manage a few SFHs in SI new Brighton area.

Hello - I’m looking for a PM in the Miami area to help with a Condo I own in Sunny Isles. Especially interested in someone to own the short term and long term rental process. Let me know any recommendations or contact direct

I have a SFH with a great renter. No drama, keeps to himself, takes care of the place. His first year renewal is coming up and I'm wondering if I should increase the rent or not. On one hand I don't mind swapping less $$ for the drama free renter, and on the other my expenses have gone up slightly and it would be great to help cover them, though not required.

Is it a forgone conclusion that rents typically go up year over year? What is ‘market’? 3%? Do all LLs always increase them?

I also thought about not raising this year but giving a heads up that I would next year...

@Michael Bishop these were awesome, thanks!

Quick Q - When/why would someone select preferred vs common?

I also saw a deal where the return was 8%, 6% current and 2% accrued. Does that mean the 2% doesn’t go back to the investors until the property is sold?

Is it common for LPs to visit the property?

@Don Konipol I agree and this is painful. I just pulled out 6x of my original down payment/investment on my one property that I bought 11 years ago. I still own it now and worst case is it’s not cashflowing much anymore. However it will appreciate long term nicely and i will raise the rent.

When I look at the REI deals that promise a 2x equity multiplier over 7 years it doesn't seem sexy at all. However, I just don't think I can bring myself to be an LL again, honestly I think i just got lucky with the first place.

@Ian Ippolito

Thanks so much. I’m accredited. I’ve read some of your articles on due diligence and similar.

How do you typically diversify deals? Ie if should I look for 4 opportunities and split my $$ 4 ways?

I’ve started looking at some private deals and the terminology is daunting.. preferred vs common, IRRs, equity multipliers.. I’m finding it hard to select one deal over another. I’d almost prefer to pay a consulting fee to get some vendor neutral advise. Are there any such services?

I own 1 rental property that I bought 10 years ago. I let it sit and have been collecting rent on it... In the meantime, I had a family and am busy w/ my career. So then I started reading about the BRRR strategy and how if I take $$ out of this property I can buy another, fix it up, rent it, then buy another, and again and again. That sounded like lots of fun. So I did a cash out refi on the rental and I just got almost 200K back now. Instead of the property cash-flowing at $600/m in my favor, its now a break even and I still have 25% equity in it. I'll raise the rent soon too, so not too worried about that..

However, in the meantime I decided I don't want to be a landlord any more. I cant decide what a good way to reinvest the $$ is. I want to keep it in real estate without being a LL and i don’t want it in the stock marker. I was considering crowdfunding / syndications but am new to that too. Any suggestions?

Where does everyone think we’re at cycle wise?

By me in NY, if I look at NYC it seems to be dropping slowly, however go 30 miles away and it’s a total sellers market.

Are we 2-3 years away from a good entry point?