All Forum Posts by: Shain Ismailovski

You wouldn't be able to be their landlord as it would essentially not be fair to any of the other Section 8 applicants and would be a violation of their policies. Getting your property approved for Section 8 housing is a good way to expand your rental pool, but reasoning you explain would most likely not be possible  

Welcome and good luck on your real estate journey. It may be helpful to attend any real estate meetups in your area in order to meet more people face to face and expand your potential network.

As others have mentioned attend some meetups and network with others in the field. As you're just starting out make sure you have done your homework and know what you're looking for. Bergen County is a big area with a lot of fluctuation in what each town has to offer. Make sure to narrow down your list to a select few towns so as not be overwhelmed so a lot of data. 

A mentor typically comes about naturally. If work in the industry or know someone who does it can be as simple as picking their brain. There are paid for mentorship programs which could offer a good amount of hands on info. Mentors could also be people you have never met, but frequently watch or read their work online. It all comes down to what you're looking to do and that persons experience in doing that. 

Bait and Click Article. Unlikely there will be much of an impact if any

It all depends. $100 to $200 might not be worth my time. $200-$300 better. $300-$400+ is the ideal. This tends to give you a nice cushion for profit as well as setting money aside to use for any issues that arise with the property. This all the depends on the type of property. If you're looking at multifamily homes the sweet spot should be higher. For most people having any kind of money left over is a good thing since you're essentially getting the place for free while rents go up and it appreciates in value. It all depends on the kind of investing you're looking to do as well. 

Make sure you've done your homework and understand what the process will consist of. Make sure you know what market you're interested in down to the neighborhood(s). Start analyzing loads of deals in that specific market and figuring out the good from the bad. Eventually you'll get an idea in your mind of what works and what doesn't. Secure your financing if you want to go that route and then start making offers. LA and Inland Empire are huge areas so make sure you narrow down specific neighborhoods or zones or else any data you collect won't make sense if you're comparing it to the whole area. 

Multi-family homes cash flow much greater than SFH and it also presents you with the option to house hack if you want to. However, they typically require more work since you have multiple tenants. SFH can still cash flow at a lower amount but still require less work. It comes down to what's in your price range and what you're willing to deal with.

Quickbooks is pretty great in helping you organize different properties and asses the cash flow of each

The 2% rule in real estate is a rule of thumb which suggests that a rental property is a good investment if the monthly rental income is equal to or higher than 2% of the investment property price, You may also hear reference to the 1% rule which is the same thing, but 1% of the price.