All Forum Posts by: Tom Willai

Hi, Im young 25 years old, and pay rent $1200 a month for a small apartment. I know money is not easy these days. My plan is to acquire a property in the bronx, with 2 car parking minimum, for around $1400 monthly mortgage. I have my car dealers license and can profit 2k monthly from 2 cars. Any ideas?

Not trying to argue. Just trying to live life. My paraents told me i'd never get an apartment, ending signing a lease last year. You guys are saying that investing/aquiring a house is nearly impossible for me, lol. To Nathan Emmert, my spouse has a 10k credit card and we make 2600-3600 monthly, when i sell cars we make close to four grand 2600 on dAY job income. I went to trade school for plumbing. I have a handyman in arizona. Is it really that hard to flip something for 20k to maybe 36k if numbers are right. Just trying to get on the right track. I will start selling options on the side. My wants to invest he get credit card offers in the mail for 50k, but is not interested in a credit card. It would be hard to purchase a multifamily n nyc because they start at 250k for fha, and conventional will need 20% or more which we dont have. The most we have for downpayment is roughly 4k, thats why i thinks arizona is my best bet. Thanks

Thanks for the reply. i guess i will save up more cash. I do have a day job. I was taught to use Other Peoples Money. My dad does want to invest but doesnt know how to go about it. Your suggestion is to keep paying rent? I can find a job in az and i see nice homes around 90,000. If i messed my credit up and want to ruin my dads? No i dont. But i do see opportunity by using his credit to finance a rental investment, dont you think? Im in nyc where there are multiple streams of income, and you mean to tell me I cant invest 2k or 5k into something nationwide... I think you still use old tactics, for 900 a month and 3k down, thats reasonable for something....

Im 24 years old, my girlfriend is 22 years old, we live in the bronx, ny and live in our own apartment, rent is 900 per month for 1 bedroom, our lease is up in November 2012. We make around 2600 a month after taxes. My dad has good credit, good at fixing things as he is a superintendent. Bird Dogging/wholesaling seems a bit slow to get into real estate but worth the time, just hard in the bronx, and i really dont understand it. I know about arv, noi, and can pretty much tell calculate repair expenses from working with my dad when i was younger. I use to sell used cars from the auction before me and my girlfriend moved, but im looking to invest in something more BENEFICIAL. So here is my dilemma, Should i start birdogging in the bronx ny where houses start at $156,000 fmv for multifamily rehab homes(i also have a cousin in richmond va, but he doesnt have a car right now, i cant put him to work), should me and my girlfriend pack up and move to arizona with her mom, then get a house out there?, Should we continue renting where we are at now(i hate paying rent!) and find something(what i've been trying to do for past few months), should i get my dad to co-sign for a mulifamily? With the deposit me and my girlfriend will have $2000 in november if we move out. If not i still have a 1000 to invest. It feels like i may have to go back to selling cars. i have no kids, my girl friend has 10,000 credit card untouched. my credit is s***. Can anyone help me please?