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All Forum Posts by: Donald Placide

Donald Placide has started 7 posts and replied 86 times.

Post: New to Real Estate Investing From Brooklyn, NY

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

@Cynthia Jacob welcome! You've come to the right place. Check out BP podcast, blogs, and the resource tab. Also there are a few free e-books on here to help you get started

Post: Newbie Looking for Mentor

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

welcome to BP!!  You've come to the right place! 

Post: Long Island meet ups

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

@Brian W. @Josh Eitingon  i live in west Babylon, and work in Oceanside, always wonder if there were other meetups beside LIREA. I'm definitely going to check it out! 

@Adrienne G. looks like you have some very valuable skill sets, so far your doing all the right things. 

I can only speak from my own experience, start to familarize yourself with homepath.com, as a realtor you will be able to bid directly for fanne Mae foreclosure. Good way to get in the game and pick up discounted properties( SFR, and duplex) which owner occupied gets to bid on first. I'm leaving out a lot of detail, but that's the general idea.

With your social media skills you can easily start a tube videos on how investors and can streamline there RE business through the several  skill sets you listed, and hence gain a two fold result of branding yourself and opening doors to off market deals! 

For Realtor license, here is a quick tip that helped pass the second time around, study all the terms In every chapter,  If you know the terms, your can correctly answer any question they throw at you :)

Hope my 2cents helped ;) 

@Cliff ZarbockGreat post!  You made the deal breakdown numbers very easy to understand. 

Post: Hello 19 from Queens NY

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

Welcome Chris! There is a wealth of podcast, articles and e-books on the subject of wholesing here on bigger pockets 

Also, attend local REIAs and begin to network with more seasoned wholesalers and rehabbers. 

Post: 1st wholesale and Pro membership

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21
Originally posted by @Elliot Smith:

So we sent out 100 mailers. Two batches of 50. As I work 60 hours a week I didn't want to get to busy. the first 50 sucked I only had one lead and he didn't like my offer. So we changed up the wording and got 8 resonses on the next 50. I got two contracts on those. I am keeping one and I wholesaled one.

Numbers for Duplex

$115000

Comps $150-$180

2/1 side

Rent 1380

NOI $10466

Cap 9.46

Most caps in this area are 4.5 - 7

We signed the contract on 3-28-15 and closed 4-6-15  9 DAYS!!!

@Ryan D.

My wife said that we couldn't get the pro until it paid for itself. She is awesome with our money, we are pretty frugal.

 Wow that's great! Success stories like your gives us newbies motivation to carry on !

Post: 1st wholesale and Pro membership

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

Congrats elliot!  Are you able to give a break down of the numbers on the deal?  

Post: New Member from NY NJ

Donald PlacidePosted
  • Homeowner
  • Katy
  • Posts 88
  • Votes 21

@Ben Rutkevitz Welcome to Bigger Pockets!!

Dana Whicker great insight! I always wondered what was the exact fine line that made wholesale legal or illegal