All Forum Posts by: Damon Bodine

@Petro Kuznietsov.  hopefully yes in December or January.   We're having trouble with a stable monthly venue in Brooklyn.   So i've been moving them around between boroughs  a bit this year.   Have a lead on a good one that i'm planning to speak with tomorrow.   So hopefully thats a go and we'll be able to commit soon. 

If the goal is cash make the offers that work for you.    The investors i'm working with are making 10-20  offers a week right now.  I'm doing the same for my personal investments.   

Also don't be afraid to ask wholesalers if they would be interested in JV's . I've had a couple approach with that recently for deals they haven't been able to assign.

Hey @Michael Delgado. Welcome!    Sounds like you guys have a dry powder to work with which gives you a ton of options going into this cycle.   

Things I might suggest.  
#1. If you're in nyc for the long haul think about your own personal residence situation and how you're calibrated there.   NYC isn't always an amazing cash flow market but we are in a shifting market right now.   There is more negotiability in the multi family market than there has been in a while.  
#2.  I wouldn't automatically disqualify the markets in driving distance from NYC or even in NYC itself.   I've met investors who've done very well in Upstate ny, Connecticut, new jersey.  I've personally done well investing in philadelphia.   There are opportunities.  
#3  I would try to further define the goals.   Kind of defining if your goal is growth or cash flow.   Cash flow you'll find a lot of great markets in the midwest.   Conversely growth you might opt to look into the southeast etc. 
#4   Inevitably there are great deals to be had in every market.   Personally I can't emphasize enough how important the right team (PM, Contractor, Agent, Lender) are to success.  If I was starting again I would focus more of my time on finding the elite players in those positions.  Learning to right questions to ask, how to have a better BS detector etc.  
#5.    There are a ton of great meetups in NYC  with investors focusing local and out of state.  I've found them incredibly helpful at all stages of my journey.     

Hey @Benedict Aurelius Great job taking the leap and becoming an agent. Its great on the ground experience. Lots of options here. You should look into DSCR loans. Its also possible you can find a seller who is willing to seller finance. Ultimately I would focus on finding great deals. To me thats the hardest part.

@Maurice W. Evans. great i'll connect and send a message with a link to the next one.  

Hey Maurice. you should pop by one of our meetups if you get a chance.   Would love to connect with you.  

I started door knocking again personally.   Its working out really well for me. 

Definitely still happening in NYC even in todays market.   Very much so depends on the property and pricing. 

Here is an article I thought might be useful  

-https://selling-guide.fanniema...

What is house hacking? “House Hacking is a strategy that involves renting out portions of your primary residence to generate income that is used to offset the cost of your mortgage and other expenses associated with owning a home. When done correctly, it allows people to live in expensive areas completely for free, or even generate positive income through home ownership”-David Greene

Savvy homeowners have been using this approach for decades to offset or in some cases completely cover their living expenses.

Join us for our next House Hackers Happy Hour. Here you will meet other house hackers and industry experts who are taking advantage of this strategy to dramatically improve their savings and investing goals.

Damon Bodine Investor Friendly Real Estate Agent is your host. Damon has worked in the New York City since 2014 and is also an active investor and private lender.    He has worked all over the 5 boroughs helping buyers achieve the dream of home ownership.  

Date - Tuesday November, 29, 2022
Time - 6:00PM
Location - Online -RSVP on eventbrite for Zoom Link
Ticket Link -

https://www.eventbrite.com/e/h...

Cost- Free

Any questions feel free to reach out to Damon.   If you think anyone could benefit from this event please feel free to share with them.    Open to everyone!   

Brooklyn, Queens, Manhattan, Bronx, Staten Island, and beyond.