All Forum Posts by: Eva Marin

@Simon Campbell , thanks for the suggestion, great idea :)

@Alyn Shek , am new to REI so i am trying to be at this moment very precise of what i am looking (duplex or triplex) and in which area, so right now i wanto learn what is the market in the Bronx, particularly 2 or 3 miles from from my zip code 10462. Otherwise it is too overwelming at this point to look around futher, when i am trying to figure out now even how to start.

But i will be very happy to talk to you to discuss and exchange ideas. thanks

Eva

Thank you @Abduk R for the post.

i just saw a video from Jim Rohn right now thanks to this post, the guy is awesone. Thanks @Aaron Mazzrillo

clarification : in point 2 . i meant your mortgage plus maintenance cost have to be LESS than the current rent, that way you walk out with some positive cashflow every month.

Hi Alyn,

i do not have any experience except in a co-op that i bought in the bronx 7 years ago for 65k, i put 20% down, that was $13k. It was a co-op, not a condo, so rules are very different.

my 5c here are:

1. how much you have to put down? calculate closing cost too

2. are you buying cash? if not calculate the total bettween your mortgage plus

maintenance, that have to be more than the current rent that you will charge for it

3. i am guessing you are not leaving there, that you are renting the place right?

4. do you need repairs or it is ready to rent?

there are few other things but i will start with those, i rented my co-op for a while and it work out great :)

i am in the bronx, we can talk sometime if you like.

Regards

Eva

Hi Pete!

it seems like you read my mind.

For the last 2 days i have been trying to figure out if there is a way of having an idea of the rent market before even asking RE agents from the area to give me some numbers.

Thank you for your post, very helpfull.

we shoudl talk soon, i see a lot of properties in the bronx duplex and triplex bet 300-450k that i would like to know what you think and how do you approach those deals.

Thanks,

Hi Simon,

2 days later after my post, the property was out of the listing,

under contract, so I will continue looking around :)

thanks for the comments

Eva

Thanks Brandon, is great to be here :) and yes the book is good :)

hi Sofia, welcome :)

i am newbie too, looking to network with people and learn as much as i can.

My goal is to buy my first investment property (SFH or duplex) in the Bronx within the next 6 months.

where in NYC are you looking to buy?

Would be great to talk more if you like :)

Eva

Hi Paul,

yes, i print already the BP RE guide, am reading it at the same time that i am reading the ABC of REI :) Thanks.

it is funny that you mentioned the REO prop in the Bronx, i just saw one yesterday that is owned by the bank, asking price $180K, sales in the area around are over 250K after repairs. But honestly i do not have any idea about how much will be the repair cost and the rent market for 2 units (3bed and 2bed), i am planning to do some of the homework this weekend :).

But please, put me in contact with your friend, would be great to see what he thinks and how the REO market plays in the Bronx, i am new to all this.

Thanks,

Hi Simon,

thanks, really helpful everything you said i should check all those things first before even consider the deal.

my plan is to pass by the property this saturday and talk to some REA.

As soon as i get more info about the deal, i will post it here.

Thanks, really appreciate your comments :)