All Forum Posts by: Adam Bergman

Where are you getting these loans.  I'm refinancing for 3.5 for 30 years and I think that's great. I'm in Brooklyn new York.   Which banks are giving under 3% for 30 years ?

I have some experience with this.  My first few properties have been in bad areas with high gang rates. If the 4 I got in a rough area 1 was worse then the others and the only property I have ever sold. 

I had a corner property and some locals were selling drugs right out of a spot across the street.  They loved sitting on my stoop to avoid cops as I had a private property cops did not bother them.    

it's not ideal and a pretty ****** situation. with that said it was my very first property,  I sucked it up  and did what I had too.   I was very happy to sell 2 years later for a low 6 figure profit before all fees.   

Some of these areas are on the up and up and have GREAT APPRECIATION you would be so surprised. 

The way I see it is simple.   If you want in do what you have to do. Man up and handle what needs handling.  Maybe this is a wrong way if thinking but for the first priority I had I was all in just to make it work.  I was just happy to be in the game. 

Now I'm looking for only decent areas i am comfortable walking around at night.  however I would not be able to get what I have now without first buying in bad areas.   If I had to rate it it was a c- area and now I'm looking at b/b- areas. 

You will get tested walking to your property , the locals dont see it as yours they see it as there property and your just renting the real estate.   It gets VERY hairy since involving cops if you have an issue makes it worse. You will get complaints from your rentals about the local element and there is not much you can do. 

It's not all that bad but be prepared to boot up and man up (not trying to sound fake but it's the truth) and you will be fine.  DO NOT EVER BUY ACROSS A GROCERY STORE OR A BODEGA I will never do that again ever ever ever.  Imho. 

I hope this in some way helps you ,  2 years of a hard time for a low 6 figure profit, after taxes closing fees realestate fees etc made about 70k you make the decision.  For a percentage I made about 33% in 2 years.   

@Brianna S. thank you

@Brianna S. I am not dealing with an agent I am doing this on my own.

Hello everyone and thank you for the help. Ok so after 2 months of reading and learning I started making moves over this last and 3rd month. Starting looking, closing my farm area, looking at auctions, making connections with agents, etc. After trying to make a few offers the properties that i wanted to make offers on happened to be bought just a few days into being exposed to market. I decided my next property I find I will make an offer before I see the property and express to the Realtor its contingent in me seeing the property (its about 2 hours away). So here I am, I made a verbal offer they said seems about right lets make it legit so now I have to make the contingency. What should I write in order to be able to say I dont want it if its not what i expected ( I had spoke in detail and expressed it to the Realtor and they are in agreement) this is what i Have: "Property inspection and walk through. Property condition must meet buyers satisfaction. Property must be free and clear of any liens, must have a clean and in good standing title."

Any help is appreicated and I want to make the offer ASAP its new to the market and I want it before its gone like the other ones.

@ hello Joe. are you coming to the NYC meet up tonight? you might find some answers to your question. just in case the meet up is at Pranna restaurant at 6:30

got it. thanks

@James Wise I just did my pre liscence course 75 hours on line. Just have to take the final school text with proctor and the state test off course

Hello all. I have been reading about a,b, and c neighborhoods on two different posts as i browsed the forums today. Question what constitutes each grade? are their any specifications or is it just a generalizations, for example

A=upper middle class+/high income or business owners

B=working middle class/median salery of $80,000+

C=Section 8/low income

D=warzone

I just happened to put in anything above just for examples. Sorry if I posted in the wrong place but I am intending to disect the grade in corelation to renting out a property more so then flipping.

I will be their. Bringing my brother as well. Thank you.