All Forum Posts by: Michael Sherwood

I disagree with buffalo. I agree in regards to appreciation but as an investor you don't always look at just appreciation but cash flow.

Mike

I actually have a good suggestion for this one. My wife had this happen where she was a student and also from china so she didn't have much assets in the states. Her parents prepaid the rent for the whole year. It wasn't a problem if they have enough funds for the whole year. Just a suggestion.

Originally posted by @Greg Penny:

Hi Larry,

Welcome to BP, i am also new to the site, but very active in building a portfolio of income properties in the Buffalo area. Look forward to crossing paths with you.

Good Luck!

Greg

Greg nice to see you on here too!

@Larry Lenz welcome to BP! Buffalo is great ! We even have a local BP meet up so if you are ever back in the area stop on by. There are many investors here in buffalo so if there anything any of us can do tell make sure to reach out. Also, make sure to ask any questions you have here on BP because I am sure someone has encountered it before!

Best of luck.

Mike

I'm in if there is anything I can contribute!

Edward Suarez paying for comps is not necessary. The realtor would be compensated as a buyer agent. I also recommend becoming a real estate agent yourself. It has many advantages. Mike

I used to invest in stocks ( still own some) Individual stocks I believe to be more speculative vs a Mutual fund or a index fund (which fools advocate) I prefer something tangible and something I have "Some" control over that is why I like real estate.

I agree, they seem to assume zero learning. If you found BP you wouldn't have these problems.... or a lot less. I agree that hiring the right kind of property manager is important (or when you are small do it yourself)

up here in Buffalo we don't count on appreciation ( it simply does not happen)

I have one acronym OPM - credit markets are freeing up and banks are lending again.

@Account Closed

You made the right choice by joining Biggerpockets!

We started a BP meet up here in Buffalo awhile back even though there is already an existing REI. I suggest on trying to network with other investors on BP near the area to start with. Also, try to find a good location to host the meetings that is key. Maybe a local Dennys or local Restaurant that has a separate room for your meet up. You also might want to advertise through Meetup.com as there might be other investors out there that don't know about BP (which you should remedy at the meeting :) ) The problem with Meetup.com is I do believe there is a cost associated with it.

As far as the format of the meetings we try to keep them fun and interesting and encourage new members to ask questions. A lot of times it will be the same people talking and new people will feel discouraged to 'ask a dumb question' (which isn't possible)

Good luck!

Mike

Joshua Dorkin we met a general contractor and investor/flipper from bp shout out to David Niles we are just completing our first flip together and we hope to do more. We have also started up a local investment club in buffalo which is growing with many different investors in different niches. A lot of the new investors will have the ability to find mentors that have real world experience. Here is to growing partnerships via BP

Amy D. We have a very active market. Welcome. Let us know if you need anything. We also run a local meet up which should be in January. Mike