Passive Income simplified….

Passive Income - Simplified (1)

Let’s be honest – all of us would love to bring in a bit of extra money from time to time, right? There’s nothing better than being able to earn some money in addition to your day job. Apart from boosting net worth, this will also give you financial security, which is something all of us want. But if you’ve already got a demanding day job – you may not be up for doing a lot of additional work. And that’s where passive income comes in, especially if you’ve got a property you can rent out. That’s why I’ll give you a simplified rundown of passive income basics right here!

Passive Income And Rental Properties

Okay, so let’s talk about passive income. Just what is this in the first place? Well, the definition of ‘passive income’ is basically that it’s any earnings you make in a way that doesn’t take you a lot of effort to attain. As the word ‘passive’ implies, you’re not working for this type of income on a daily basis yourself. For example, this could mean investing your money into bonds, stocks, or earning from a rental property.

Obviously, having some passive income is awesome. With it, you can give your retirement savings the boost you may need to retire early, or simply build your wealth. Naturally, there are many ways you can invest in real estate – but today, in the context of passive income, we’ll take a look at rental properties.

Think about a very basic fact about life for a second – people move around all the time. For some reason or another, people use one of the many different moving options out there in order to relocate to a new home. But realistically, not everyone has the financial chops needed to buy a new household of their own. In that situation, many people resort to renting. And that’s where you come in with your rental property! At the same time, you solve someone’s household problem, while also making some long-term passive income. It’s truly a win-win situation.

Finding Expert Real Estate Agents

When it comes to rental real estate, one thing is certain – you can’t afford to make any beginners’ mistakes. After all, any sort of investment in real estate is a sizable one, especially for a high middle-class budget. And in the very beginning, you’ll definitely need to put some money into your rental property, if you want to earn a passive income later on. Sure, it won’t require any daily work once you’ve got a steady tenant – and you’ll get a nice monthly income for your initial effort!

But before you do anything or make an investment, find a real estate agent that is local and knows NYC, someone like Imma, Broker Owner of Tyler Vincent Real Estate Inc. You don’t want to entrust your real estate investment to anyone – you need a combination of experience and knowledge-ability that has the highest possible odds of yielding results.

Where To Buy

So, you’ve decided to invest in a rental property, in order to start making some passive income. But with that in mind, you should consider which area would bring you the highest profits. Generally, the rule of thumb is that you want to have a look in areas that have great schools. Buying a rental home in such an area may be more expensive, but it will also give you a better return on your investment than a condo or an apartment. Make sure you purchase only in a neighborhood where you know that prices have been rising for years.

Plus, such an area is more likely to get you the tenants you want, responsible renters that won’t be unpredictable in regard to payments, and won’t damage the place in any way. Also, keep an eye out for rentals that are near major highways or public transportation; these are usually more popular because of the chance for an easy commute.

If you’re making your first investment in real estate, you want to make sure that you’ll buy local – a property that’s nearby, so you can check on it from time to time. Conversely, your first rental being an out-of-state property would be a bad idea, regardless of the costs.

What to Buy

When people ask about renting and buying, I tend to tell them: firstly, it all depends on what you’re planning on doing with the rental. If you want to have regular renters for a prolonged period of time, you want to invest in an apartment. On the other hand, if you plan on selling your rental in a couple of years’ time for a neat profit – a house is a better idea.

/caption: If you’re renting, get a property that doesn’t require extensive renovations! /alt: A front door with a key in the lock.

If you’re planning on selling the property pretty soon after you purchase and give it some slight renovations, take a look at foreclosures. These are an excellent way to land an agreeable deal on an under priced property. On the other hand, when it comes to rental properties – don’t settle for fixer-uppers. You want to rent it out as soon as possible, instead of burying yourself in endless renovations and additional costs. Get something that’s basically move-in ready, if you plan on renting it out.

Finding Tenants

For those worried about finding the right tenants – know that it’s hugely important to set the right price for a property. You’d do best to consult with an experienced real estate agent on how much you’d be wise to charge for the property. Though, make sure that the rent covers your overhead on the property while bringing in some passive income as well. After all, every property means dealing with homeowner’s insurance, maintenance, HOA fees, etc. Take all of that into account while you set your rent! Hire a professional like Imma, who will screen the top qualified candidates for your property. It is all about damage control. Don’t just run a random ad, everyone has to prove their income and credit worthiness or they just do not cut the mustard.

Remember this is YOUR wealth portfolio we are building, not a not for profit. In some state L and T Courts are stacked against the landlord .. therefore you must avoid courts at all costs.

Remember if you do not watch your money, someone else will be.

Call me for one on one consultations – 30 minute call yours FREE for the holidays. I would love to chat.

 

 

 

 

 

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The Final walk through!

As many agents enter and exit the Real Estate Business I have found that in my 20 plus years selling and renting Real Estate, keeping up with all the new laws and changing climates of the market, many people who aspire to be in Sales want to know and understand many things PRIOR to making the commmitment.

I am starting a new journey – post my small tiny battle with breast cancer – I decided I would go a bit further and teach what I know through a series of Master Classes.

I am in the process now if tying it all down and continuing my podcast!

I actually enjoy “teaching” what I know and giving agents that extra layer of certainty!

The Final walk through – for me is exactly this! As a Broker of now nearly reaching my 10th Anniversary of being FULLY INDEPENDANT – and over 20 yrs of service I am now going to reach the masses.

Something I have wanted to do for the last decade! Thanks to AI it is all coming together nicely, in Real Estate the final walkthrough is exactly that – walking through a property before the keys are handed over.

For me this final walkthrough will involve getting my son TYLER VINCENT Licensed and handing him the keys.

I love what I do, and now want to do more and reach many many people in a very simple and strategic manner, all at an affordable price not some crazy coaching rates that make you quiver, but jam packed, full of life and information!

Look out world I am stepping into what I truly believe has been my life calling!

Real Estate has afforded me the opportunity to grow, learn and pass on what I know.

Join me in one of my classes – whether you are an aspiring agent, a new agent, a seller or buyer, perhaps a renter you can’t afford to miss these classes.

Looking forward to the Final Walkthrough!

Best,

Immacolata ” Imma” Giocoli – ASKImma tm

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Just when you thought things…

Couldn’t get any worse 🙂 – It has been a while and although interest rates have barely moved people are still buying – but here is the catch! Anyone who purchased a home when the rates were so so so low, the lowest I have ever seen them anywhere from 2.75% up to 5% – unfortunately can’t take out the EQUITY the home has built.

I am often asked, WILL THE RATES EVER GO THERE AGAIN???? Hmmmm NO. I do not think or believe that the rates in my lifetime will ever go there again. They may hit 5 and I predict this on my podcast but under 5 is a far far cry.

So, what do I mean – For those that bought when the rates were prime are locked in at that amazingly LOW rate – the home values have risen and one way to wealth is to take out that EQUITY and use it to buy more Real Estate (That is one sure way to grow your portfolio and wealth in housing).

BUTTTTT and I mean BUTTTTT with the rates at 6.25% or 6.125% or 6.5% or even 7,8,9 depending on the product meaning 2 Family vs. 4 or 5 or 6 or higher… the gap in rates means that your current LOW LOW rate would need to get refinanced at the higher rate – jumping up your monthly payments.

NOT MANY CAN HANDLE THAT – so the EQUITY IS TRAPPED! Was that part of a housing plan?

I think it was…none the less there are always players who can – players who can’t. Simply because we are not all born with the same pocket depth.

For the majority of the middle class who barely see a 2% increase in salary – they will not be able to take a 4% jump and new mortgage for 30 yrs – some will MOST WONT.

If you buy now – at the higher rate you will in the near future be able to pull out the equity at a lower rate making the whole scenario about Real Estate wealth return to the normal.

SO, if you were hesitant to BUY due to the rates – do not be – just DO THE MATH!!! Math the only constant in the universe, and CHANGE is the only constant in Real Estate.

Should you have questions or concerns or just want some sound advice – hit me up – I am on TikTok, youtube and all my info is public.

I love what I do, that is talk about Real Estate and how to create a legacy and wealth for years to come.

Happy passive Income folks – let your money do the work!

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Calling ALL first time buyers!

So, you have been thinking of BUYING and dumping your landlord? It’s about time!

When I say “it’s about time” I mean actual time. Hear me out .. I have been in the Real Estate Business for many many years, most first time buyers get nervous. What IF, e

What IF, I lose my job and can’t pay my mortgage, What IF something better comes along, What IF I hate where I live once I make this huge purchase? I also hear HOW can I go from renting to owning? WHAT should I do first? WHO should I work with or should I go about it on my own?

These are common fears first time buyers have – they are normal fears – so let me share with you a few tips on how to prioritize this process to make it simple. Keep in mind I do not care if you are in NYC, Maryland, Virginia, California or EUROPE – geography has no play in this, these tips work all across the globe.

FIRST: Make a FIRM decision that the timing is right for YOU – not what others say online or in the media.

SECOND: Take a look at your finances, look at how much money you can put down on a home and take a good look at your credit. Call a mortgage professional if you need recommendations let me know ASAP and I will refer you to someone, this applies to USA. This is a critical step in the process as the mortgage lender/financial institution will determine your eligibility to borrow funds and set your purchase limits. Once this step has been started you will be issued what we call a PRE APPROVAL letter.

THIRD: Select 3 areas where you may want to live, neighborhoods that offer things like transportation, accessibility to shopping, commuting whatever your personal needs are. DO NOT get stuck on ONE neighborhood, this is an INDIVIDUAL thing, and your buying power may not meet the market in the area of choice, so always look to the west, east, north and south of your primary choice. Visit the areas 3 xs – AM, PM and weekend. Take mass transit, if you will be relying on that for work reasons and see how it feels. Once you lock in the 3 areas, consult with a REAL ESTATE PROFESSIONAL like myself who can take all of the market conditions and line you up correctly.

FOURTH: Real Estate Exercise – Day 1 – the search begins – based on your pre approval and buying power, this will determine WHAT you can buy – Co-Op, Condo, Single Family or Multi Family. Your Real Estate professional will begin working on your behalf and schedule showings, you will go looking and by looking and getting a feel of WHAT you can buy, WHERE you can buy you will be able to do process of elimination. Remember, buying Real Estate is not just a decision, it is the largest debt of your life(when financing) it is the longest debt of your life (usually 30 years) and its probably the BEST decision you can make as an investment vehicle.

FIFTH: Once your exercise cycle begins, you will trim the fat – hone in and find something that meets at least 80% of your wish list needs. Remember you may not be here for life, since life happens in real time – you never know how your needs will change as you go through life. Once you find something that fits your pre approval and your agent did the math for you it’s time to take the leap of faith and make the offer.

There are no guarantees on whether your offer will be accepted, but you gotta be in it to win it! Keep at it, repeat as needed and drop the fears.

Remember renting is like putting money in the fireplace-it serves a purpose then it’s time to take advantage of some tax incentives and buy Real Estate. It is by far one of the best investment vehicles and offers you a roof over your head that you control. If you can pay your rent, you can and will pay your mortgage! There are things you can do to pay down your mortgage and your Real Estate Pro will guide you accordingly.

AS for HOW – financing – there are tons of options, yeah the rates are still a bit high as of 2-16-2025, but when they drop you can refinance the home, again something your pro can help with. The market has adjusted, it is shifting into a buyers market – and the time to jump in is upon us.

Call me or write to me anytime – igiocoli@tylervincentrealestate.com.

Let’s get you HOME!

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Jumping off the deep end part DUEX

What can I say, I am not the daring type but when it comes to idea I have tons of them.

I often find myself thinking of ways to be of better service to people. When I decided to jump off the diving board and go solo as a BROKER in NYC – BROOKLYN people thought I was out of my mind.

How can you? How will you? I said I will just have to figure it all out. I knew it was time to leave the nest of The Corcoran Group – and prior to that I spent a good solid 9 years at ELLIMAN. Ever since I was a teenager I wanted out of my parents NEST so no wonder I always have this fleeting feeling inside of me.

During the pandemic I thought to myself- How can I combine the 2 industries I absolutely LOVE and make something creative and amazing come together? I spent years in the Airline and Travel Industry from 1988 TWA to 2007 – Form working at the ticket counter to handling private jets and planned itineraries for the most discerning travelers. Having had this natural talent for planning and detail, and unnerving eye for perfection my travel career was amazing. Handling people from all walks of life including and not limited to The Clinton Foundation, SJP, Ronnie Guttman and many many more.

As the world began to go luxury and develop the same trend in Real Estate and the USA – I recognize a need for someone like me to blend the 2 worlds – Travel Planning and Real Estate. So many people have been looking to retire outside the USA – this is prime time to bring these 2 passions of mine together. I had an impeccable track record in the Travel Business and now in Real Estate – So, I am happy to announce the opening of Tyler Vincent Travel Services where we can hand curate any vacation and blend in REAL ESTATE at the destination of your choice with a hand selected agent to meet and greet you and show you around!

If you are seeking a 2nd home or retirement home – In the USA or abroad – please call me to discuss and let’s make that Travel / Real Estate dream a reality!

I can’t wait to get this off the ground~

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All this hoopla on commission!!

As I sit here shaking my head in disbelief at where the Real Estate Industry is heading I say to myself Imma, why does this still shock you?

Real Estate business is a very fascinating arena, it entails many many moving parts and the T.V. doesn’t do it any justice. Real Estate is not as sexy as they portray it to be, in fact it is very challenging since the only constant we face daily is change.

This change has many many masks, such as the government interference in private sector, the associations of real estate professionals deciding on things without looking at each micro market. Clearly we know Manhattan and Downtown Brooklyn is a totally different game than let’s say Boston MASS.

We are faced with inflation offsets, rising costs of materials which increases costs of housing. We also need to navigate interest rates and so many agents have a hard time riding the wave.

To some, Real Estate seems to be a steady market – ” it only goes up” I’ve heard a 1000 times – yet that is NOT true in micro moments and markets – Real Estate like every other thing on this planet is cyclical. It does go up and is by far for me, the ONLY investment to make. However if you are caught in what I call the “Real Estate WEB” you will lose money on your investment should the need to sell comes at a moment in time where things are on the way down. Let’s talk about commission! EVERY agent that brings about a transaction should be compensated by the SELLER as in NYS we are all sub agents of the seller as so I do not see an issue on this and this should be a STATE to STATE decision in the long run.

When Listing a property the SELLER needs to understand that the commission paid will be split – In NYC my experience over the last 2 decades has been that every one agrees so do the majority of the larger firms. WE ALL AGREE that we need to do business as usual.

The buyer side is super important – imagine having no buyers to buy? Everyone working just the listing end?? Seriously it does take 2 to tango and if we are all disclosing it there should be no issues. I feel the MLS and REBNY needs to disclose the commission – so that it keeps Brokers and Brokerages on the transparent train! WE need to continue co brokering to represent the SELLERS 100%.

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Back in the Saddle

Real Estate is one of those businesses that you can simply walk away from then return to whenever you want..However there are a few things you need to know to pull this off when you need to step away.

1-Make sure you remain in constant contact with your Sphere of Influence

2-Make sure you have someone here locally that can show and go

3-Make sure you remain in tune with the market trends

4-Make sure that you keep your license current

It all sounds easier than what it will actually become.

Remain aware and visit once in a while where you can take your clients to coffee or lunch, breakfast or dinner.

During the pandemic many agents grew, some quit and others decided to remain dormant.

The Pandemic brought about a Real Estate change that is still occuring, people are still moving out of the State and into other areas where you can certainly make referrals.

I am now back in the saddle and ready to grow my office and offer to the agents that believe there is no hope for Real Estate my awesome and amazing transformational program.

So if you want to jump back into the saddle and you are not sure of where to start look me up so I can help you on your way!

Take advantage of my experience with customer service, Real Estate Sales, training and mentoring staff and brokering!

ASkimma giocoli on youtube, my office at Tyler Vincent Real Estate Inc. or find me on the web by googling my name – The Be who you are in Business movement is happening and YOU are the missing link!

Sincerely,

Immacolata Giocoli

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What does a down arrow really represent?

With these uncertain times, how uncertain are they? Or are we looking at the glass being half full!

My eyes always see opportunity, no matter where we stand. Whether it’s on the way UP, TIPPING or Leveling off heck even if its on the way down!

There is ALWAYS opportunity! SO, why all the down arrows? When searching for Real Estate or evaluating markets the things I look for are arrows, days on market a.k.a. DOM, location, condition and quantity!

Buyers ALWAYS rule the markets all markets – right? RIGHT. Imagine not having a buyer to sell your home to?

Exactly, why the down arrows, the market is for sure shifting, it is on the way down and no that does not mean you are going to lose your shirt because in Real Estate we all know this is a long term investment vehicle – you should visit the case-schiller chart its amazing and accurate.

What goes up MUST come down! Did you learn that in 3rd grade? However hold onto it long enough and you will see that it will rebound, and generally creates a higher peak than where it last left off.

SO, Arrow down means opportunity! Buy LOW sell HIGH – basic economics. WHY is this downturn different than 2008, because we have many moving parts that we did not have in 2008.

We have fear, wars, pandemics and inflation to name just a few. Let’s not forget interest rates! While we ALL feel the hit on gas, food and cost of living we do not all make the same income. Clearly some will feel it alot harder than others but this is the way of life.

Opportunity awaits for people who have cash, can afford the higher rates and are frugal with their money. Real Estate will certainly rebound all the time and the short answer is WE ALL NEED A HOME TO LIVE IN, so whether you rent or buy, we all need that roof.

I look at the down as an opportunity to help people move, sell their homes or refinance their ARM – ADUJUSTABLE RATE MORTGAGES into fixed ones – NOW IS THE TIME –

WHY the gloomy faces? People thought / think the Real Estate market goes only up (they are not wrong however it also comes down) ..when I am asked when should I sell my home, I simply say WHEN you have the need to sell it! GREED usually replies ” what if I wait then sell when the market goes high, if I sell in the down I will lose” I have stories to tell you my friends. Selling your home has to be driven by a Reason to sell not money, its either financial or safety. You can wait assuming you can wait, and see what happens or you can sell now and gather your proceeds and buy on the down…bank the rest. If you sell on the beginning of the dip, hold and buy on the bottom you will be GOLDEN.

If you wait, who knows what will happen and honestly I have had clients who turned down 7.2M ended up with 5.4M , or had 4.7M and ended up with NOTHING – so drop the emotions and make decisions based on the need not the market, not the money – YOUR LIFE DESIRE.

Keep your eyes on the DOWN ARROWS!

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Putting the REAL into REAL ESTATE !

When I started selling Real Estate, or rather when I first got licensed I could not believe the amount of caddy, crazy people that are in this business. WAIT! Let me rephrase that – GREEDY – NASTY and down right SNEAKY.

As a Highly Sensitive Person, I was uncomfortable, I felt as if I would NEVER make it. How can I walk amongst these people? I was mortified. The stories I would hear, the lies being told during showings, the secrets of the developers, the real ugly things that give this business the bottom feeder ratings it deserves. After all I think Real Estate “advisors” , Sales agents and Brokers were ranked the least trust worthy people in business .. NOW – HOW could I be a part of that!!!

My inquisitive self said , self there has got to be some good in all this bad because I am always optimistic and I always find the cup is half full never half emtpy; unless its a glass of wine and its mine, then maybe empty…waiting for a refill.

Being this need to know, has to be accurate, rule follower person, who suffered from procrastination, perfectionism and OMGGG a super strong GUT – I asked WHY the need to lie?

I would come home feeling defeated – I would say ” that’s it its not for me” , there is NO way, I do not have a poker face, I can’t spin a story and I for sure 100% refuse to lie. I guess I will NEVER EVER SELL ANYTHING 😦

Low and behold – decades later I not only SELL Real Estate, I continue to attract like minded individuals and the universe is yielding this way – FINALLY – people are no longer out of touch. The Gap is closing.

For the most part – Real Estate has many happy endings, then there are the horror stories. Trust me there are plenty horror stories.

How does a Highly Sensitive Real Estate Agent survive? By being your innate amazing self that is how, by creating magnetic marketing and attracting ONLY people who want true transparency and NOT a fairy tale. By never ever giving up on who you are and by harnessing your super powers.

So, its been 15 years since those dreadful days, now I work for my self. Not only did I overcome fear, not only did I NOT succumb to telling stories NOT only did I tell it like it is, I remained true to my inner core. It has served me well through the years. I do not work with everyone, nor do I take on everything. I say NO.

Especially when we are not aligned because I learned that when you are on opposite ends you will never meet – so, never chase the money – chase the relationships, the lives you will change and the inner guidance you have. Listen closely to its quiet tug, it knows.

So the next time you feel like you are NOT going to make it, or that you need to lie or that someone is telling you a limiting belief SMASH it like the mole game at the carnival and YOU will overcome the snake pits, the lies, the constant duck and weave – people, people like you will gravitate to you and the universe will yield.

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Limiting Beliefs? Eagads what is that!!

As a Highly Sensitive Entrepreneur I know how challenging it is to allow limiting beliefs to hold you back, in fact I bet some of the things you think about – you do not categorize as limiting.

Here are a few for you to identify:

Someone told me that Real Estate is really hard

I was told that selling Real Estate requires you to lie and tell stories

Getting listings is near impossible

Landlords will NEVER give me an exclusive listing

or

If I do not list with a large firm my home will never sell

You get what you pay for

Smaller listing fees mean less exposure

or

Bigger companies offer more listing leads

Bigger companies will give me a better reach

Bigger companies have more to offer

These are all limiting beliefs! Every single one of them, just like thinking that more money means more problems, or bigger problems or people with a lot of money are unhappy.

This is all limiting- The human has unlimited potential ( except of course if there is a medical condition to prohibit that) WHY would you allow something limiting to stop you from creating unlimited potential?

What if I told you, that bigger is definitely NOT better, that Real Estate is NOT hard and that smaller listing fees do not deliver less exposure.

What if I told you I can help you shift your perception, unlock your potential and release the invisible chains that bind you!

As a Highly Sensitive Entrepreneur, I use my innate sensitive strengths as super powers.

Whether you are seeking to sell as an Agent, or a homeowner – call me anytime for your FREE Clarity Call I would love to help you release the chains, remove the FEAR and get you on your path!

http://Realestatemissinglinks.com

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Putting the REAL into REAL ESTATE

When I made the decision to jump off the deep end without a life jacket I knew a few things could happen.

  1. I may sink
  2. I may not sink

I took the plundge because I knew I would never give up on myself and that I would fight to stay alive in the big sea of Brokerages. Making the final decision to JUMP was by far the scariest part of the whole experience.

The dive off the deep end couldn’t have been more refreshing. Not only did I swim, I learned so much about myself and overcoming fear that I not only know more is ahead, I also know that I want to share my journey with you.

Being an Independent Contractor for the bulk of my adult life gave me the sense that I was in fact Independent but I wasn’t. As a highly sensitive entrepreneur I knew down deep inside something was not feeling right. IS Bigger Better? Was this a limiting belief or was it real? I didn’t FEEL that it was, after all the people that I went out to meet, met me and not Douglas Elliman, they met Me and NOT Corcoran – We either jive or we didn’t.

Jumping off the deep end to pursue my perfectly balanced life work flow and create deals and transactions according to the needs of my clients is why BIGGER was NOT BETTER for me.

How much Independence is there as an IC under the umbrella of a BIG FIRM? NOT MUCH.

They need to overlook everything, you need approvals and signatures from all the layers of nonsense they have created.

Jumping off the deep end allowed me to get to know myself; the way I work and establish a footing I wanted to establish doing things differently.

I wanted to help people, despite how many times I was told this isn’t the business to help people.

I could NOT understand that, we have so much industry knowledge, we have experience in passive income and math formulas and connections how can we not help people?

When I decided Tyler Vincent Real Estate in fact was going to be the Best Little Brokerage in Town, I set out to do just that. I sell all types of NYC Real Estate, in every borough throughout the land. I offer a reduced commission with the same exposure, trust me the buyer will come regardless of who’s name is on the sign so WHY spend 6% when you can spend 4% ? Did you know that on 2M Dollar sale its a savings of 40k!!!! I think 40K can be better used elsewhere like College for your child, new car, or furniture heck donate it!

Jumping off the deep end not only served me well, it serves my community and the communities around me.

If you are thinking of selling, trust an area specialist, who loves to help people move! Who loves to make an impact, while costing you less. So, IS bigger better? Don’t fall for the bells and whistles if it were better I wouldn’t be here writing this story!

Call today for your FREE – no strings attached marketing evaluation!

I can’t wait to hear from you!

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