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  1. lleone

    Crazy Cap Rates

    REAL ESTATE 
    I've seen some deals here in NYC that have gone off at 1.5%!! Insane. Not to mention when interest rates go up, value is going to drop to adjust for the higher cap rates that will be required. We are in the final throws my friend.
  2. lleone

    Puerto Rico; what is the opportunity?

    REAL ESTATE 
    People like John Paulson are making huge investments in real estate and there are additional areas where they are looking to revitalize (e.g. US Army base that closed). Targeting real estate opportunities around these area may be a good play. In addition take a look at Act 20 and Act 22 that...
  3. lleone

    Buying condos with hard money loan

    Hard money lending is best used when you have no other options and are specifically looking to focus on flipping a property. The reason is that the interest rate is high, so you want to use the money for the least amount of time possible. Hard money is rarely used in long term buy and hold.
  4. lleone

    How Can We Win Real Estate Investor's Business?

    REAL ESTATE 
    There are a couple of challenges with the webinar/training approach. I agree with the comment on joining communities like www.BiggerPockets.com. Start contributing or answering questions on the forums there. You will get a lot more exposure than you think doing that. The key is too be active...
  5. lleone

    Real estate investors - how do you get more properties?

    REAL ESTATE 
    Try a portfolio lender or speak to a really good mortgage broker. There's a ton of money out there offered by lenders, private equity, even individuals. The issue is the interest rate tends to be higher. To really start to grow, you need to bring in investors. They put up the money, you find...
  6. lleone

    flipping/buy and hold/Manny khoshbin

    REAL ESTATE 
    A couple of points to help you along. 1) Most of the big money is made in real estate by using OPM (other people's money). So the next question you should ask is how do I get other people to invest in me. 2) Get a solid track record of successes in real estate. Here is an example of...
  7. lleone

    Anyone own a large apartment complex?

    REAL ESTATE 
    Your goal is completely doable. I'm looking at owning at least one apartment building by the end of 2015. I would recommend you do the following: 1) Join the local REIA in your area (see http://www.nationalreia.com/ to find it for your state) 2) Find a mentor who is doing exactly what you want...
  8. lleone

    Advice for a quick sale ( investment property )

    REAL ESTATE 
    I understand....I've seen that several times. If you don't have to sell, maybe put a renter in and try to wait it out (assuming you could at least get close to breaking even).
  9. lleone

    Advice for a quick sale ( investment property )

    REAL ESTATE 
    From looking at the photos, it looks very clean, clutter free and I don't see anything that stands out as an issue. The question is why didn't it sell in 6 months. I'm assuming you have a multiple listing system that the property was on that is accessed by all the agents there. If so, then...
  10. lleone

    First time REI? What would you do?

    REAL ESTATE 
    @RealtyR In assessing what you're looking to do, IMO you have to look at it in 2 ways. The first is financial. What is the best use of the equity I have to invest. Take a look at this form and calculate the different options you are considering (e.g. HELOC and a mortgage can be different...
  11. lleone

    "You have to make an offer before you can see the property..." Is This Normal??

    REAL ESTATE 
    @Testament There are two great resources I can recommend that are both totally free and you will learn a ton of info. The first one is www.biggerpockets.com. There is a forum topic on almost every part of real estate investing you can think of. If you start asking about Las Vegas, you will...
  12. lleone

    "You have to make an offer before you can see the property..." Is This Normal??

    REAL ESTATE 
    There are many companies doing turn-key and similar and a lot of them are totally sleazy. They tell you it's worth more than it is, they put renters in at a high rent to make it look like you're cash flowing positive and then they move out and you can't re-rent. Vegas is still in recovery and...
  13. lleone

    Looking to buy first multi-family home

    REAL ESTATE 
    @fishburn7 The the number of units will make a big difference. For example, if you're looking at a duplex, triplex or quad, then your credit score, financial standing and downpayment are a big part of the deal (it's very similar to when buying a home). Once you get to 5 units or more, it's...
  14. lleone

    Mortgages: Residence vs Income Property

    REAL ESTATE 
    The banks do differentiate between whether it's going to be your own or an investment property. Investment properties loans usually require more of a downpayment and a bit higher interest rate. They will look at your income, but the more you put down, usually the more agreeable they become...
  15. lleone

    Question about HELOC

    REAL ESTATE 
    I'd agree with fastlanerider. I would work on your credit score. The other thing is you didn't mention your income. Banks are also going to consider how strong your financial position is, so if you haven't worked at a specific job for a long time or your salary isn't that high, they may count...
  16. lleone

    Buying/Living mobile home with business money/investment

    I'm not a lawyer or accountant, but if you're going to treat it as an investment, then I would set it up as it's own LLC and track the expenses and income completely separate from your business. This protects your assets in your business and also your personal assets (if that is a concern) if...
  17. lleone

    Residential Leasing

    REAL ESTATE 
    @KLaw Normally, you would take the land contract and amortize it based on the interest rate they are going to pay you to figure out how long it should run before the home is paid off. If not, how much did they pay off of the home in the last 10 years? That would give you the remaining...
  18. lleone

    Preparation for RE portfolio

    REAL ESTATE 
    Hi Karl, Good first time post. Most people who eventually get involved in real estate seem to all say the same thing. I wished I had started earlier! Real estate is an amazing vehicle to build wealth, however it normally takes time to do it, so the sooner you start the better. There are many...
  19. lleone

    Motivational Quotes

    HOT! MINDSET 
    “Life begins at the end of your comfort zone.” ― Neale Donald Walsch
  20. lleone

    LLEONE's Self-Publishing Fiction/Non-fiction Ebook Journey

    PUBLISHING 
    Apr 2nd Update So today is the last day of my 5 day free promotion through KDP Select. I signed up on numerous sites that promote free kindle books prior to the promo to see if they would help. Here are the stats for the month of March: Sales - 5 (including 1 I purchased) Free Promo - 189...
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