All Forum Posts by: Winston Varghese

I aim for 30 minutes, i read when i have time. Any headline that interests me or something i don’t know about about i read on. I read alot more then i post. I’ve been listening to the podcast for almost 3 years

Congrats that’s awesome! Are the tenants on a month to month lease, or yearly lease? Are you nervous at all buying a property with existing tenants in it?

Hey Gabriel, out of state investing is definitely awesome but also more risk then getting a property locally. Like others have said, make sure you get a good property manager/company to take care of your property. I would look at their website, and google reviews etc. to make sure they’re reliable. I’m currently investing out of state and i’m going to have a family member manage it for me, lucky me. Definitely focus on one market, or your favorites and make some comparisons (cash flow vs appreciation, type of neighborhood, population income, etc) You should be writing down everything and compare!

@Bud Gaffney Goal is to acquire 3 cash flowing Multi Families within 2021, (definitely 2) and get more after that! What’s yours?

Wow, huge financial loss but the knowledge you gained from

that loss must’ve been far more. You must know most of the ins and outs now about how to rehab “properly” lol. I feel like you’d be better off getting an off market property for a flip

I will be there. 

@George Munoz when you say wholesale, what exactly do you mean?

Hello BP, i’ve been interested in purchasing a rental property in the past few months. I just have a few newbie questions. I am most likely going to purchase out of state and I currently live in NY. I’ve been frugal and saving every penny towards my first purchase. I also heard of this site roofstock.com on a recent podcast, and i wanted to know if it was reliable. 1)I currently make about $30k a year. I’m not sure if the bank would give me a loan even if i have enough saved due to my yearly income. My brother is also going to be supporting me, would i be able to do a joint loan application? Not sure how this would work. 2) How much down payment exactly would i need to finance a loan? Does it depend on my credit? 3) I’m looking to purchase on roofstock.com, should i look elsewhere? 4) A lot of the deals on there seem good, how would i know if a property is good to buy? Should i go fly down to the area and see the house first? 5) Should i go through a agent instead? 6) What interest rates should i be looking for?