All Forum Posts by: Lelith Walker

I don't normally but after the last tenant that left I will probably start.  I know that when my mom was in section 8 housing she had to bring proof of income every year.

Its all over the place landlordsny.com, nolo.com,

http://www1.nyc.gov/site/hpd/owners/landlord.page

Note laws differ from one part of NY to the other

How is employment in that area?  Is it multi-industrial or does the economy in that city depend on one industry? How is the neighborhood where the property is located? Would you be ducking bullets when doing site visits? How much equity is in it?  What are the repairs like?  How old is the building?  Are there tenants in there?  If so did you talk to any of them? Did you talk to neighbors regarding flood, tenants, hood?  If these things are positive then I would buy it. 

A lot of people that I know used Chris Urso and are very satisfied with it.  Others recommend Peter Harris.  I know Juan personally and he should be able to help. 

http://www.bing.com/videos/search?q=juan+pablo+100+percent+financed&qpvt=juan+pablo+100+percent+financed&FORM=VDRE&adlt=strict#view=detail&mid=A075006504D1AB05CCC8A075006504D1AB05CCC8

However, I chose not to go down that road.  I just read books in the library, go to the local reia, join real estate meetup groups, and surf all real estate info on the internet you will get a lot of info for FREE.  Next form a team and that is done by the networking that you do at the meetup groups and reia's.  I personally went to the reia of the city where I wanted to invest in.  I made it part of my business trip.   I email and call at least one of the people I met approx. every week to build up a relationship. 

In NYC they charge more than a one family but less than a 3 family that you do not live in.  It also varies by how much you want covered and what deductible you choose.

Wholesale or partner with someone who had more money. 

I walked down blocks that I was interested in living in, then I went to my states building website to see who the owner of the property was.  Next I wrote a letter to about 20 people and one lady actually called me and desparately wanted to sell. She was old and wanted to retire to the south.  Turns out her home was listed but she was willing to sell to me to avoid paying realtor fees.

You could do a flip or put it into a 1st position performing note.  Flipping is a job.

I go to REIA NYC but I am not a member. I just pay for the individual seminars. My regular job is at night so often there are schedule conflicts. Becoming a member does allow you to take advantage of certain discounts at various stores and at the seminars. The knowledge you gain is very good because the leader Teresa Martin is an attorney. She really wants to see people get ahead and she researches things a lot before letting people affiliate themselves with the group. For example me and some other people were going to invest with Richin5 and she warned us about the lawsuits that company was involved in. Networking is great too and there is a lot of deals that can be made and have been made with other members and non members. Out of all of the NY real estate meetups this one is the most helpful and comprehensive. Now I did join a real estate group out of state because they have webinars on their website and I can look at them anytime. Unfortunately, it is a lot of upselling but I can get nuggets here and there. Theresa did promise that they will have webinars again so when they do I will join and volunteer.

Welcome. Also to network and learn more I suggest two groups REIA NYC and Richdad NYC.