All Forum Posts by: David Girdusky

I saw an article about a company that claims to be a high end then key renovation company that doesn’t charge interest, fees, or payments until after you’ve sold your flip. They claim that they only ask that you’re actively working with an Agent and that you sell within one year (give or take).

Think this is legit? If so, they would get a good amount of business but they would have a mountain of capital hanging out there waiting for repayment at all times. To not charge anything except their cost seems unreal to me..

Perhaps I find a fixer upper.. buy it with my equity from my home and their improvements, and then sell for a nice profit?

Thoughts? NYC here.

NYC based, living in a mortgaged house, and also own a NJ Shore house that is slightly more profitable than break even on an annual basis. Now I have $330k in equity after 2.5 years in the Jersey property. My mortgage rate is 2.75 so I don’t want to do a cash out refi, I can do a home equity up to 90% but that is at a high interest rate.. if I want investment property #2, does anyone have any advice on the best move I can make?

I saw so many ads on Instagram this weekend.. one contradicting the next and all claiming to be the hottest thing. One I saw was for the loan guys.. offering to finance rental properties based on potential income. Anyone ever deal with them? Or others that you may want to share some feedback on? Thanks.

So I have investment property that I purchased in March 2021.. rented for the Summer season at $2900/ week for 10 weeks.. I’m now in negotiations with a family looking to rent off-season while in-between homes. I like the area so much and am looking for my next one, but the numbers have to be right of course. Anyone in the area that can suggest meet up groups or other ways to meet professionals in the industry, i.e. wholesalers? Lavallette NJ (Jersey Shore).

This question pops into my head with every property I analyze. I am new to investing, and am aware that cashflow is relative to cash investment. I am in NYC so am looking elsewhere as investing in NYC takes a lot of cash to get off the ground.. even when using other people's money. A friend who owns 6 SFHs in NJ said he won't spend his time on any property that doesn't bring him $1k/ month cashflow. 

I'm just starting out in this investor world, but I have had 2 conversations with agents.. one implied that exclusivity was an industry standard and sort of implied I should have known that and that is the way is has to be. This agent sent me about 5 listings that were all off the mark from what I was really looking for, and what I described in detail to her. The second agent specifically said he did not need nor want exclusivity, because he was confident that he would bring me deal that I would really want. He was much more confident in his abilities and spoke in depth about his track record. His willingness to share his professional history would have been enough to convince me to work with him, but he wasn't cocky or demanding. Bottom line, I feel if they are really good at their job, the should be treated with the utmost respect and rewarded for good work, but exclusivity shouldn't be required or demanded. Just my 2 cents as a newbie. 

Great insight, thanks for sharing. I am currently in contract for investment property #2, and am absorbing as much information as I can. Investing in NYC where I'm located isn't feasible, but I am currently splitting my focus between the Jersey Shore summer rentals and Upstate NY student rentals. Again, thanks for sharing your story with us. 

The bloopers were hilarious. Great short and to the point video.. added all your points to my growing notebook.

Sean, I have been told to look in CT & PA.. I own one home on the beach in Jersey that rents for only 10 weeks a year.. my family uses it for weekends otherwise. I thought to find another rental in Jersey for ease of taxes.. Is there a specific area in CT/ PA that you recommend?

Alex - thanks so much for the feedback. Your thoughts seem to be spot on with my own thinking as I launch this new adventure in my family's lives. We are based in Queens, so I'm on the hunt for a multi-family.. 4 and a basement would be a grand slam so long as one of the units was big enough to house my family (3 beds/ 2 baths). Do you know what the FHA limit would be on borrowing for a home with 4 units in NYC would be?