All Forum Posts by: Desiny Smith

@Account Closed wow beautiful! It looks like a completely differently house! How much did you spend on renovation costs? 

Nick Meers Small world! I never knew her personally but I'm sure if you knew her you are most likely familiar with a few other friends of mine as well. Thanks Michael J. ! You hit a lot of good points. I have been pretty good about budgeting my money but I know there is always room for improvement. I was dead set on purchasing a rental for my first property using the FHA 203k on a foreclosed home, but I am realizing now that personally, flipping a home would probably make more sense since I am not sure if I want to stay in upstate ny or move to a more tax friendly state.

Nick Meers Absolutely. I was talking to a well known couple who have been investing in Saratoga since the 90s just a couple of weeks ago (Fred and Shannon Scheidt of Saratoga Excelsior Group). I asked them what the cap rate was for Saratoga, they said very small if any because the price points are so high but they make up for it in appreciation. Whatever you do, I wish you luck! And please keep me updated.

Nick Meers Are you currently investing in Saratoga?

Melissa Nevich Personally, I would like to build wealth over time through rental income from large apartment buildings. I would use money from the fix and flips to purchase my first apartment building. Currently, I am not working full-time, however, I was just offered a position with a company out of state and am deciding whether or not I want to take the position.

Hey Kevin Wong , you and I are in the same boat with strong desires to get started in real estate. I am also a recent college graduate (just graduating this past May) I have some funds saved up, but as of now I am looking to partner up with other investors to go in on my first deal. Maybe we could get together to see if our goals align. I've been talking to a seasoned investor, Dev Lindo who is extremely experienced with flipping houses and he has agreed to help guide me through the process. Let me know if you would like to have a conversation about it!

Hi Everyone, So I have been stacking my brain for the past few months trying to decide whether to purchase a multi family property as my first deal or to do a fix and flip? I know that it all comes down to personal preference and long-term goals, but I was hoping I could get some advice from other members? I live in upstate NY in Saratoga Springs and I don't know if I can bring myself to purchase a home in NY with the property taxes as high as they are–even with an abatement or an exemption! So my question is what was your first deal and how did you finance it? Would you do it differently if you could? Tags : Albany, NY ; Capital District ; Glens Falls, NY ; Queensbury, NY ; Upstate N.Y. ; Buy and Hold ; House Hacking ; Fix and Flip ; Action Investors ; Foreclosures ; REO ; Wholesale

Thank you @Ryan Goldfarb !

Thanks so much for your reply @Allan Szlafrok! I sent you a colleague request.

Hello Everyone—

I'm new to the investing world currently living in NYC as I finish out my last few months of school before graduating. My plan is to start investing in the capital district of NY, since that is where I am most familiar with and grew up not too far from there. However, after about my third or fourth investment, and after gaining some experience, I would like to move back downstate. I have been to Jersey City a handful of times and believe it, as well as surrounding cities, has a lot to offer for investment purposes. With that said I also find it confusing, as one street can be nice but the next two or three streets over could be another story.

I am hoping to connect with other investors in the area; veterans or newbies. Maybe I could help you with a rehab or send out direct mail for a day. I don't have a car, but I am more than willing to help anyway I can. My main goals are to begin to build relationships with other investors, agents, or people who aren't experienced in investing but may know the area, in addition to getting to know the market. I have a lot of energy and real estate investing is something that I am truly passionate about!

I apologize for making this longer than it probably should be, but I wanted to give you all a proper background and my vision for the future.

Thank you, and I look forward to making many connections along the way.

Best,

Desiny Smith