All Forum Posts by: Edwin Vela

@Kweillin Gordon  Hello Mr. Gordon do you guys lend in New York? Pennsylvania? 

Hi no but that's a great question. I will personally look into that and will let you know what I can find.

Hello Abraham send me a list of the cities you are interested in I will put a package of properties together for you and I will run my investment analysis and if it does make sense I will give you 2 options 1. You can do the deal yourself 2. I'm looking for cash flow if you are close to those areas I will teach you the process and do a 50/50 split on those deals. I'm from Long Island I have a lot of projects here but the prices are getting high. Feel free to add me and let's set up a time to talk

Mr. William welcome to the industry and if there is anything that I can help you with please feel free to reach me as we are not that far. I can't send you my contact information on this message but you can find it on my profile. 

Good Morning Mr. Stephen 

Thank you for your reply on my post. Definitely let me know what deals you have for me. I'm looking for 1 to 4 family homes with rental cash flow. I can do light or heavy rehabs. You can reach me by email or by phone. my contact information in on my profile. 

Have a great day

Hello my fellow investors I hope you have been busy closing your last deals for this year and are getting ready for 2017. Thanks god We did great this year and now We are very well established in New York and I have been doing some research in other states and I have considered setting up a shop in Pennsylvania. I have seen a few discussions about some markets there and this 2017 I will finally go Out of state New York but I need a few tips from the new Investors I look to connect trough this discussion. I have been trying to find a data system in that state that can help me collect property Data such as, taxes, property records, mortgages, liens, etc. In New York I use the MLS and geodata.net but since for the time being I'm not licensed in PA I would need a better data company that can provide more accurate information, zillow, trulia and propertyshark are definitely not my best choices.

Feel free to add me as a contact I will be coming twice a month to see and buy properties and I would like to meet established investors and beginners. I have been doing this since 2005 and if there is anything that I can help you while I'm there please feel free to connect with me. 2017 Its got to be your year We can definitely do big things. 

Hello my fellow investors I hope you have been busy closing your last deals for this year and are getting ready for 2017. Thanks god We did great this year and now We are very well established in New York and I have been doing some research in other states and I have considered setting up a shop in Pennsylvania. I have seen a few discussions about some markets there and this 2017 I will finally go Out of state New York but I need a few tips from the new Investors I look to connect trough this discussion. I have been trying to find a data system in that state that can help me collect property Data such as, taxes, property records, mortgages, liens, etc. In New York I use the MLS and geodata.net but since for the time being I'm not licensed in PA I would need a better data company that can provide more accurate information, zillow, trulia and propertyshark are definitely not my best choices.

Feel free to add me as a contact I will be coming twice a month to see and buy properties and I would like to meet established investors and beginners. I have been doing this since 2005 and if there is anything that I can help you while I'm there please feel free to connect with me. 2017 Its got to be your year We can definitely do big things. 

Hi Lulu 

Unfortunately most short sale negotiators don't think like a bank when it comes to starting the negotiation process. In order for them to really know their case they should always order a title search on the property to make sure that there are no other outstanding liens or judgments on their clients property and even if its not on the property many times they will have issues transferring title to the buyer. Its very important to maintain constant communication with the short sale bank for any Auction dates on their files.  On this case Lulu are you negotiating the short sale or did you make an offer on a property that is selling on a short sale?  If you made an offer on a property that you dont control the short sale process I will tell you that is not that easy to get that much information from those people.  I buy a lot of short sales and We process them in my office as well but many times If We dont have control over the short sale process We would be seating for a long time waiting for the short sale processor to push the bank to get them approved.  My advice is that if you do make offers on those short sales partner up with a short sale company actually works and pay them 1% of the short sale price and get an agreement with the agent securing their commission on the sale of that property.  If all you want is make the money on the fix and flip you should apply that. Thats what I do and by the way I'm in Long Island NY if you ever need any help or join you on a deal feel free to reach me. my information is on my profile. 

Good Luck.

UNITED STATES TREASURY BEGINS CRACK DOWN ON MONEY LAUNDERING THROUGH HIGH END RESIDENTIAL REAL ESTATE

In an effort to combat money laundering in the real estate sector, The Financial Crimes Enforcement Network (FinCen), a bureau of The United States Treasury Department, has issued Geographic Targeting Orders (GTO) that will temporarily require title insurance companies to identify the names and social security numbers of the natural persons behind LLC's and other opaque structures that are used as shell companies to purchase high end residential real estate.

Reporting will be required on "All Cash" purchases of residential properties that exceed $3,000,000 in Manhattan and $1,000,000 in Miami-Dade County. The GTO will remain in effect from March 1, 2016 through August 27, 2016 with the possibility of being extended depending upon what the policy uncovers. All reporting to FinCen will be done using IRS Form 8300. 

Do things right, Dont cut corners, stay informed, keep moving forward 

Hello Guys 

I signed up to bigger pockets last week and I'm very Impressed with this community. I'm looking forward to building a profitable business relationship with all of you. 

I'm a flipper and wholesaler. 

This are the deals I look for

New York I look for fix and flip deals, Multi-Family units over 10 units

Emerging markets I look for Multi-family over 10 Units. 

If you have a deal for me please contact me. 

Enjoy your day