How much budget do I need to start real estate business?
I am thinking of establishing an LLC and buy studio / 1 bed room homes to rent out. Main target in NY/NJ as I own a condo in NYC and know the areas well. I have good credit and can get a good line of credit. For my first investment property, what percent do I need to make as a down payment and what is the budget that I would need to start the business? Also looking for good resources on property investing TC: 450k NW: 3m
How much RE appreciate in NYC area?
Bigger pockets RE forums has all the resources you’ll need. GL with your endeavors
Open the mortgage calculator, put 8% interest rate and start doing calculations yourself. Does rent minus expense result in negative or positive? It's a 2nd grade math. No one is going to feed you deals. You need to find your own.
LLC just going to make things worse lol
Why?
Because it doesn't work like you think it does... It involves work to keep it legit...on an ongoing basis. Plus rates will likely be more expensive...
Next jersey slumlord trying to screw over people trying to live affordably but doesn’t know the first thing about it
Yes Disney is making movies and screwing us. We can all make a nice action movies with our iPhone and AI now. Disney should stop making movie and exploiting us. This is how ridiculous you sound buddy.
Mentality of someone that really has no idea 🤷♂️ about RE. “The slumlords are screwing us raising the rents!!!