All Forum Posts by: Christian Martinez

@Danny Webber Thanks for the thought at least! I actually spend a decent amount of time in Austin. How do you like doing rentals/flips in Austin vs NOLA?

@Austin Barbin Hi Austin, this is exactly the plan I would like to follow! I don’t care where I start, I just want to get started. Seems like “The Stack” method is working quite well for you. Let’s set up a time to chat! I’ll PM you. Thanks for reaching out.

@Stephen Keighery Hi Stephen, would love to talk to you more about the local market and ask you some questions. A couple years back, I considered wholesaling in NYC but had trouble learning the market alone. That’s something I’m very interested in as well. I will PM you. Thanks for reaching out!

Hi all, I am looking for a local Mentor and for local professionals interested in joining my "dream team". I also need advice on structuring my real estate investment business (LLC, S Corp, etc).

I'm new to the real estate investing game and have become very interested in following the BRRRR investing model for the New Orleans area. My current area of interest for my first property is Metairie, Louisiana. The homes seem relatively affordable and sits in the rental price range of the median income of the surrounding areas. For those of you familiar with the area, I've been specifically looking into anything North of Airline Highway and West of Causeway Blvd. However, I am 100% open to learning about better locations.

A little about me: I grew up a few minutes outside of NOLA but left home after high school. I served in the United States Marine Corps for five years as a Scout Sniper and completed two combat tours to Afghanistan. After my enlistment, I attended Fordham University's Gabelli School of Business in NYC and graduated (December 2019) with a Degree in Public Accountancy with a concentration in Finance. I am currently working with a Big 4 accounting firm out of Manhattan, but the work from home policy has allowed me to come down south to LA to be with family. I don't mind the grind, but I think I would rather put 90-100 hour weeks into real estate rather than public accounting if possible. 

I need a mentor to help me navigate the ins-and-outs of the local market and to possibly take me under her/his wing and I need a HML that's willing to work with me. Additionally, I know a local agent, I am meeting with a potential contractor soon, and have a friend at a bank that will be willing to refinance loans when I get to that step.

If there is anyone willing to message online, video chat, or meet in person please let me know! 

@Orlando Kelly Double closing or assignment deals for properties that are distressed but in good enough condition to sell without a full reno. Single family but I'm open to others if I can find a buyer and attorney interested in the deal.  

@Account Closed For some reason it didn't like properly in my first response. 

@David Wright I will look into the Wholesale courses. 

From what I've seen around the forums here, Manhattan's apartment heavy infrastructure makes it difficult to get into the business. Also, I live in Manhattan and don't have a car, making it hard for me to drive for dollars in other boroughs without renting a car (costly but a possible route). Most posts I see on here are similar to mine and end with an open ended question like, "Any luck in NYC?" 

Seems like no one is finding traction in the boroughs. 

I know that assignments are the game, but I need to look further into the gray area between selling the contract and being considered as a broker for the property in question under NYC law. I assume I'd need to find a good lawyer that deals in double closings and shell out some cash for advice. Hopefully I can make my first deals unlicensed and with out an LLC/S corp.

I conservatively calculate that I'd be in the hole about $3k+ after first month just gathering intel and building an advertising strategy. David, do you have any experience in the Boroughs?

@Aaron Wade, thanks for the invite but I unfortunately have a final exam that night! I will definitely keep my eye out for other meetings!

As the title states, I'm new to the BP community and would like to get into REI. I've been looking into wholesaling since last year, but the NYC market is just not ideal. I'm originally from Louisiana and feel I could get a good start wholesaling there, but going back home isn't in the cards for me right now. I am a USMC combat veteran and I am currently finishing my degree at Fordham University to sit for the NYC CPA exam.

Fortunately, I don't work full-time because I receive veteran education benefits that cover the basic costs of living. However, the gravy train ends in December after graduation. I also intern at various firms throughout each year to help supplement my costs of living. Other than school at night, I have a ton of free time during the days and want to design a permanent income stream and build a real estate portfolio. Ideally, I would like to not need to move into corporate America for a low-ish wage after graduation. 

Because I have spotty job history (Mainly internships since leaving the military), securing a loan to own a property is out of the question. However, I have a near 800 credit score and a spotless rental history during my 3.5 years in Manhattan. I want to get started by this summer but I am in need of advice about creative ways to secure funds to get started. 

 This article sparked my interest: 

"How I Built a $1.3M Real Estate Portfolio for the Cost of a 1-Bedroom in NYC"

Any help would be greatly appreciated!

Best,

Christian Martinez