All Forum Posts by: David Janash

Yeah BedStuy has been hot for the past 2-5 years. Let me know how things go, I am rooting for you

Would love to do a deal with some one similar to this one - PM if interested. 

Hmmmm, sounds interesting...Send me a PM, lets talk

i would love if the pros on this thread would PM me to learn more about markets in Upstate/western NY. I am ready to do a deal like the 4plex collection 2100 a month. maybe even more :) 

Hi Cheri, my name his David and I am local dentist, currently living in manhattan and am dying to do a deal with some one in Queens. I am a local Queens boy and know the market well. 

Brooklyn is basically at Manhattan prices now so everything will have to eventually squeeze into Queens for the next 5-10 years. Astoria and LIC are the best neighborhoods to be in right now. 

Please keep me in the loop on how things are going for you and if you ever want to talk or meet. I am looking for something very similar to you so lets see if we can help each other out with this process. 

Keep in touch 

DJ

A couple of days ago I read about a newbie on here that was about to make $200 cash flow (I've made the same mistake) on a huge risky investment.
The pros weighed in and one stated "you can make more money managing someone else's place a month than you can your own - don't do this!", Im paraphrasing

But he was right!

I am in a position where I have a nice chunk of change to buy, but in my markets, NYC, Scottsdale, Upper NY State REI is impossible.
So then I find myself looking for REI where I could do a few small 75K-100K all cash deals in cities like Memphis and ATL but it's a bit out of my comfort zone. I feel like I am at the mercy of the market, manager and inspector. The people on here are wonderful, and great advisors, but things can go wrong....So....It got me thinking and since there is a wealth of info on this board I thought I'd ask.

If the person defaults on the loan, is it mine?
Pros? Cons? Maybe this is the way I should go?

Any ideas and advice would be greatly appreciated

Hi, I'm new(isn) and the more I read the more it seams like a wholesaler is the person I want to get involved with for an REI in the 87 Corridor/Southern Catskills and even the Phoenix Metro Area. My searches on Zillow and Trulia have lead to lack luster results.

Id be interested in doing a multiplex and would need a great property manager. 50% and 2% rule a must. All Cash and ready for the right deal

email me privately or send me a private message please if you know of any one who can help with finding inventory.

[email protected]

Well said, I was just thinking out loud. Truth is it's likely that you have to be at the right place and the right time to find the best deals. Cotinuously looking and having cash, guts and a vision is key.

So you cant do this ever, at all, unless the place appraises for a value higher than you paid for it by 20-33%?

Seems like a cash out refi is a once in a lifetime event/opportunity during this time in the world because how many homes will do that within a year, or even with 24 months. (Without owner improvements of course)

Im hoping to do the same with a property I purchased and would love my 150K back, but the place would have to have increased for me to do that.

The post below seems like a plan that is much harder to accomplish than the author makes it seem, JMHO

http://www.biggerpockets.com/renewsblog/2012/12/12/make-a-million-dollars/

If you're into a REI for the appreciation and the cash flow is minimal, how much can tax deductions, and amortization actually help you on your personal returns - what are some basics math figures one can use to do some quick math on a property's investability and tax strategy

Thanks in advance

Another option would be to take that money out and buy a smaller REI MFR or SFR in the phoenix area all cash and get that going as a second income producer. The Big ticket home isnt big on cash flow but appreciation in the area is up 20-25% since I purchased. I think thats the strategy I'd go with if I cant use the $$ for myself.