All Forum Posts by: Nichole Wall

Hi everyone! I've been on here for a little bit now (about 2 months) but never introduced myself yet because I didn't really see the need...until now. I discovered that when I put in towns near me to search on the site, I'm finding people on here to connect with. Yes I know if I pay for the pro I can find people, but I'm in the preliminary stages or getting started so I haven't jumped on just as of yet. Plus I'm getting research about specific markets as well so I like reading about posts pertaining to the markets I'm looking at. And the best is if people are searching in the "search the site"...they will find my post that I'm leaving and connect with me. Win, win. :)

So my name is Nichole Wall and I live in a teeny, tiny, awesome town called Orwell, NY which has a bunch of larger markets around me (Syracuse, Watertown, Oswego) that I've been trying to figure out....which one do I invest and start??!!! It's all overwhelming. :) (That will be a question for a post in a few minutes though). I've been into this for about a year trying to figure things out (loooong adventurous story there). 

I discovered bigger pockets from someone who told me about it at a REIA meeting and said don't listen to the radio anymore, get on the bigger pockets podcast and start with pod #1 and just listen to them. So I did around July 9th and I am now up to #62 (yeah, I drive a lot and fold laundry...and dishes....). I absolutely love them and this site! I'm hoping to dedicate time, at least once a week on here and then move it to everyday. Oh do I like to ask questions. ;) So thanks Brandon and Josh for all of this!!!

Hey Costa!! I took a wholesaling lease option class and have been trying to implement it in Watertown, NY! We should meet up and share ideas and resources if you would like. 

Thanks for the feedback everyone! I appreciate it!

Originally posted by @Tom V.:

Have him consider renting an apartment and subletting to friends.  Consider buying a house and letting him manage it.  Find a part time job as a property manager.  Have him mow lawns in your neighborhood - that's how to get started in property management....  

All of these are time better spent than listening to somebody explain cap rates or mortgage applications.   That stuff comes in the professional world.  

 Tom- that was the idea I had in mind to get him some experience in real life while in college. I'm hoping it will cut down on housing cost too. 

So my son is interested in getting into Real Estate investing along with becoming an English professor. He's starting to look at colleges because he's a junior in High School. My question is...should we be looking at colleges that have Real Estate investing majors or are there specific classes that he can take that are really help someone out with real estate investing instead of limiting to only those colleges with those degrees?? There are about 5-6 colleges in NY that have these degrees however they are very expensive! So I was trying to look for courses related to it that he can take as electives. Any advice?? 

Hey Jose! I don't have any good input except I think you should try to network with as many people as possible so you're first idea makes the most sense. However, I was interested because you're from Mazatlan and I did a study abroad program there for 6 weeks at TEC de Monterrey (Mazatlan campus) and fell in love with the place I wanted to move there! Welcome to BP!!

So I found this property on Craigslist...

I have a house in Geneva NY valued at $170,000 by Homesnap. The average home price in the zip code is $161,000 and it's right on the Lake so it's obviously in a good area. It's a 2 story 4 bedroom single with over 2000 square of living space in good condition. I owe about $80,000 taxes on it, and I need to sell it fast, and I'd like to get what I can for it in cash.

Geneva NY is a beautiful town and has got Hobart and William Smith and other colleges. But I don't know how many Syracuse cash investors like to buy outside the City. If you're open to it, or know someone who is, please let me know fast. Thanks.

It sounds like this guy is in a bind and if he truly is... how I could wholesale this?? Meaning... I don't know any investors in this area to wholesale too. And I'm assuming (which might make me wrong), investors would already be looking on Craigslist for properties like this. Is it safe to assume to run the numbers for AFV, minus the taxes and repairs and get it under contract for that price if the seller agrees to it?? Please help!

Thanks for the feedback everyone. I haven't come out and asked him if he could mentor me, I just have asked him if I could follow him around again, to which this is where I felt I was bugging him even though he said yes. I even asked at my local REIA. I stood up in front of everyone and announced I was looking for a mentor and everyone just stared at me. So...scratch that idea. :)

Then recently, after I posted this, I posted some Craigslist ads offering to be an assistant and I got some interesting responses, none of which were credible nor do I think I'll ever be doing that again!! So my next idea is just what you said Andrew...to volunteer for him one day a week because I do have time (well when my children start school in the Fall) so I would be able to do just that. I do agree offering him money (even though I most def. would pay him) he would say no but not really want to do it. So I'm trying to think of a way to help him too. Thanks for the ideas everyone!

Okay, thank you!!

Why do I need to pull comps on these properties I'm finding (for deal analysis) if I am also finding assessment values on them?? I have been analyzing deals and I use our counties real property search to look up the current assessment (what they get taxed on). Wouldn't that be the number to use for the ARV granted you're not making any major changes such as adding a bath or bedroom to it?? Sorry if it seems trivial.