All Forum Posts by: Andrew Jennings Freerks

Duane unfortunately, I have next to zero experience in LI.  The NYC market is so large, that there was always enough work for me here, so no need to expand out to LI.  Try searching for "find an agent" in the top tool bar?

@Daniel Oropeza I too am a veteran (Army 10 years). Nice to meet you brother. I have experience using my VA to purchase a 2 family in the South Bronx. Want to jump on a call to discuss? Or meet up next week at our networking event next Thursday?

@Eric Ng I'll make a large renovation for us at Perfect Pint.  We can always grow or shrink the res as we get closer

@John Clark I was a former Bronx City Planner, transformed to a local realtor and investor in the South Bronx, where we are experiencing 8-10% appreciation year on year, even through the pandemic.  Most locations are 20-30 minutes to Midtown, so the demand will always remain high.   The South Bronx is pretty much the last bastion of cheap available land within 30 minutes of Midtown Manhattan.  The net rental easily covers your monthly expenses.  If you are interested, I create a quarterly market report for the South Bronx that I can share with you, so you can see how the market is priced and which way it is changing. I'd be happy to be your point person here.

@Ceasar Rosas I've been thinking of organizing a Bronx meet up as well.  I heard there used to be one monthly.  Would you want to help organize one with me?  Maybe the first one can be in late March at the Bronx Draft house?

@Ceasar Rosas where did you purchase in the Bronx?  I own two townhouses in Mott Haven, and both the cash flow and appreciation is fantastic.  It would be great to connect with other Bronx investors.

@James Harris let me know if you find out anything and I'll do the same!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $133,000
Cash invested: $61,000

This is a foreclosure fix and flip. We closed in early February 2022 and are currently renovating

What made you interested in investing in this type of deal?

Hands off deal with high upside

How did you find this deal and how did you negotiate it?

Chase Foreclosures

How did you finance this deal?

hard money/ line of credit

How did you add value to the deal?

Gut renovate the entire house. I also walked the property before renovation with the contractor to identify certain ideas to maximize the resale value

What was the outcome?

Still being renovated