What is real estate investing actually like? How much does it really cost to start? What do you need to know to create a lucrative deal? Learn from a real estate investor and CPA Frank Anastasi, who started investing in properties in 2020 and now has the real estate business down to a science. Get a realistic point of view that you won’t find on google.
Tune into this episode to learn:
● Exactly how much money you need to become a real estate investor
● What to look for when evaluating a real estate deal
● Who can lend you money (that you haven’t considered)
[00:34] Who is Frank Anastasi?
[00:53] How he started becoming a real estate investor
[03:16] Top 3 real estate investing questions
[03:57] How much cash do you need to start investing in real estate?
[05:57] How to evaluate your first real estate deal
[12:00] What does it mean to keep your cash in the deal?
[12:45] Who lends you money when you take cash out of your property?
3 Key Highlights
- You need 130-150K in cash to start investing in real estate and be able to do it yourself rather than relying on partners or outside investors.
- You should factor in 3-5% for maintenance on any deal. If you’re thinking of adding a property manager that would be 8-10% of your rent.
- Your debt service coverage ratio needs to be at 1.2 minimum. This means if the mortgage payment, taxes, and insurance cost you $1,000 then your rent should be 1000*1.2= $1,200 at minimum. That being said, you want to strive for a debt service ratio of 1.8-2.2
Connect with Frank Anastasi: firstname.lastname@example.org | LinkedIn
Connect with Jason Gabrieli: jgabrieli@HFMadvisors.com | LinkedIn
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