All Forum Posts by: Angel Rosado

I am also wondering what response you will receive for this question.  NYC is a complete beast of its own. They just announced that for one year leases no increase and for two year leases two percent increase for rent stabilized apartments.  As an investor event's like this make me stay away from investing within 5 miles.

I have decided to open up my search range within an hour out of the city such as Yonkers, Northern NJ, and even a little further.

Also as a primer on calculating ARV to compare two properties use this file http://www.biggerpockets.com/files/user/JasonScott/file/estimating-arv by @J Scott

Hey @Jerome Zhang welcome to the site.  There is a great deal of information here on this BP.  I would highly suggest listening to the Podcast, Webinars, and networking with other individuals.

Start with @Brandon Turner and @Joshua Dorkin Ultimate Beginner's Guide http://www.biggerpockets.com/real-estate-investing

I would also suggest finding RE meetings at Meetup.com

@Greg Mitchell I would say that if your management  fees are eating up your investment then maybe talk to your employer about getting some lower cost funds like vanguard.

Even if your management fees are 10% that's still a net 90% return due to the employer match.  I understand you being torn between 401k and investing in RE  but free money from your employer should always be taken even if it's means that we are playing the snail game in RE.

@Todd Whiddon the pictures did not do justice to the remodelafter the virtual  tour I couldn't pick up my jaw from the floor OK nice again very well done.  The virtual tour is easy to view on portable devices which I know will help you guys get some buyers.

As always great webinar.  If you have time or if you can make timeand are a beginner or just want to find a few golden nuggets I would highly suggest watching the replay.

Some key takeaways:

Success depends on finding great deals

Using the MLS is an art between being quick to snag a deal and looking for those that have been up for a while

Look for 2 bedrooms that you can make into 3

Put offers in on Fridays and a days before holidays

Look for distressed property and find owner through county records

First thing I did after was download the 7 years book

BP Pro can leverage marketplace to find deals

most importantly TAKE ACTION

@Brandon Turner What was the first book you mentioned? I already downloaded the 7 years.

@Todd Whiddon and @J Scott Great job on this build.  Although I am focused on buy and hold (no investment yet still a noob), after this post I will have to try Flipping a property one day, the pictures alone are inspiring.

And even some of the most experience guys still had hiccups goes to show that there is always "excitement" in this industry.  But great job persevering! Looking forward to some numbers.

I recently went to a first time home buyer in Westchester, NY that was organized by Redfin and I will admit the food at Brother Jimmy's BBQ was GREAT.  Being a member of the site for 3 months made me completely overqualified for the info they were presenting...I was not the target audience but did get a few tidbits.  

Just wondering if anyone here has utilized Redfin to find any investment properties, they seem to target residential buyers more than anything else.  Thoughts?

 Also if you hit @? it will bring up a list of all those that have posted in the post and alert them that they have a mention.

@Bruce Faulk Hey welcome to BP forums.  I completely agree with you BP is an amazing place to get a lot of information.  When I first began researching I let the home prices scare me away from my local area (which is New York as well) but within a 2 hour drive you can find places that you may be able to invest in.  Just remember that 99% of "deals" arent really deals this is even with Turnkey models.  

I will say that by putting it in writing you have created momentum in the world to bring you what you are looking for just make sure you continue to preserver, don't give up.

I would also highly suggest try to meet some local REI through BP meetups, meetup.com, or local chapters and this will allow you to network with individuals who can provide guidance and maybe even bring you under their wing and there is no better experience than this.

@Alex M. made a great point and this is actually the model I will be following using a FHA 203K and live in it for approximately 1-2 years.

As already had been said many times thanks to all those individuals who put this event together.  This was my first meet up and I have to say I was blown away by how at home I felt with all my fellow bpers

@Joshua Dorkin message rang so true to my heart that as I was leaving home this my son asked me "daddy stay home?" And it killed me to say no buddy I have to go to work and I turned to my wife and said investing in RE is no longer an option but a mandate.  He's my reason my driver and he's the one that I want to live my life for from my death bed.  Thanks so much for this perspective. 

I was so amazed by the large amount of diversity that exist within our community and was honored to be there with each and everyone there.

Btw whose that handsome devil on the bottom left of Josh's selfie....oh wait that's me hahaha