How To Invest In Rental Properties And Manage Construction Firm .

Angelo Senat has invested in rental properties and managed a construction firm, started buying properties in the New York., area in October 2008. With the economy in a tailspin, he was able to buy homes for as little as $90,000, which was less than the cost of building a new house in the New York area, he says. He fixed up his first house and sold it four months later for $185,000. In 2010, he bought several more homes and sold them for $220,000 to $240,000, usually within six months. Since then, prices for distressed properties have risen, which has reduced Angelo’s profits. Between July 2011 and the spring of 2012, he estimates that prices for fixer-uppers increased by 20% to 25%, while sale prices for remodeled homes in move-in condition remained stagnant. Over the past year, he has flipped about ten houses; the average net profit ranged from $15,000 to $30,000 per home, which he splits with his investors, who fund the majority of his upfront costs. Angelo Senat expects a higher return on his current projects because prices for remodeled homes in the New York area have been moving higher in recent months.His long-term goal is to continue what he’s doing now, but on a larger scale. “I’d like to be turning twice as many properties,” he says.

 

 

Angelo Senat Aviation & Real Estate Entrepreneur Sits Down with John Bailey of Shine Hard Family.

Angelo was born and raised in Haiti. Growing up through some of the country’s’ toughest times, Angelo developed a passion that would eventually change his life. He explained, “I lived through all the wars and I’ve seen united nations come in and try to help. There would be helicopters that fly like 15 feet above our house. I used to sit on the roof watching helicopters and I would say, yeah I’m going to do this.” Angelo Senat and his family moved to Brooklyn, New York in 1995. Flatbush to be exact. He was faced with the task of new schools and a new language, but never lost sight of his goal to fly. Ten years later, things would finally begin to take off for Angelo.
I caught up with Angelo Senat at his Wall St. office in New York City. The building certainly reflected the regal ambiance of his business. Angelo is a graduate of Sussex CC and earned his aviation credentials from Ventura Flight School. Not only is he a licensed pilot, but Angelo is also the President and Director of Operations of a Private Jet company, Royal Jets. Overseeing a talented staff of 15 at the young age of 28. With the business calculating somewhere around a $20 million dollar valuation, Royal Jets has been the trusted airline of choice for many well known entertainers and executives. Just recently Royal Jets acquired a feller of citation CJ3 for the company’s operations and partnered with the Darrin Walls of the NY Jets and the Darin’s walls foundation to provide school supplies to under privilege kids in the Pittsburgh area. We are proud to present a young aviator navigating his way to the Forbes List in this week’s #ShineHard conversation.