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Updated almost 6 years ago on . Most recent reply

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New to BP and looking to enter into REI in the NYC Area

Posted

As the title states, I'm new to the BP community and would like to get into REI. I've been looking into wholesaling since last year, but the NYC market is just not ideal. I'm originally from Louisiana and feel I could get a good start wholesaling there, but going back home isn't in the cards for me right now. I am a USMC combat veteran and I am currently finishing my degree at Fordham University to sit for the NYC CPA exam.

Fortunately, I don't work full-time because I receive veteran education benefits that cover the basic costs of living. However, the gravy train ends in December after graduation. I also intern at various firms throughout each year to help supplement my costs of living. Other than school at night, I have a ton of free time during the days and want to design a permanent income stream and build a real estate portfolio. Ideally, I would like to not need to move into corporate America for a low-ish wage after graduation. 

Because I have spotty job history (Mainly internships since leaving the military), securing a loan to own a property is out of the question. However, I have a near 800 credit score and a spotless rental history during my 3.5 years in Manhattan. I want to get started by this summer but I am in need of advice about creative ways to secure funds to get started. 

 This article sparked my interest: 

"How I Built a $1.3M Real Estate Portfolio for the Cost of a 1-Bedroom in NYC"

Any help would be greatly appreciated!

Best,

Christian Martinez

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Darren Sager
  • Investor
  • Tampa, FL
1,685
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Darren Sager
  • Investor
  • Tampa, FL
ModeratorReplied

@Christian Martinez ruling out the possibility of doing anything in the NYC area is a mistake in my opinion.  It's worked out very well for me personally.  I've been at it for more than 20 years here in northern NJ.  

  • Darren Sager
  • 862-208-2287
  • Podcast Guest on Show #48
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