All Forum Posts by: Jeiby V.

Hi @Megan Moulton-Levy

 First of all congratulations on your first project I wish I was on your shoes! can't imagine the feeling, but keep in mind I'm still new but i think i might have an option unless it's been mentioned already. since your looking to sell don't just drop the price it's still early I would try to keep it the same and see if you could do a lease with an option this strategy might open doors for some prospects with money but not so perfect credit. Just something to think about...

Hi @Ron TuckerWelcome to BP! you soon be stuck due to the information you'll find on this site.

How has your experiences been with your current 3 properties so far? and how did you hear about bp?

Hi @Jay Perez

Welcome to BP! you are at the perfect age to start, I'm also new but have been involved in the field learning for about 3 years. The only advice I can give is don't get caught up too much with information because it can paralyze you from taking action.

Make sure to pick a niche and focus! 

In regards to you goals I feel you CAN actually invest sooner than later!  If your like me I have a very low income job and I'm in the process of purchasing my first property  Jersey City provides a grant for those who qualify which offers a 10% down payment and 10k for closing cost. 

At the moment i'm looking at a 2 family for 189k and after expenses tax etc.. I should profit about 800-900 in cash flow. Note the properties I'm looking at are in Greenville but I'll tell you for sure that as of now since NYC is too expensive everyone is migrating to jersey city since it's so close so opportunity is in abundance especially for flippers! Besides this during the process i went to city hall and learned that a lot of development is going to take place within the next 10 years and it already started!

If you want more details please feel free to PM me

Hi @Jordan Archer

 Thanks for starting this tread I'm also in the process of starting my campaign as well I wanted to see how your response has been so far?

Hi @Account Closed Welcome to BP! you'll soon find out this site is amazing if I where you start by listening to podcast and live in the learn tab from above. 

Hey @Carlos Diaz

 I'm in your similar shoes I'm actually starting my campaign next week hopefully! I already have a budget set for 6 months since everyone say that's when you see the most results. Since I still have a 9-7 my income goes to marketing and bills I'm also looking to buy my first home multi family and take advantage of my a low income grant my city provides for first time home buyers.

Hey @Shane Woods

 I was reading this hilarious story, and I'm interested in knowing if you had an opportunity to visit the property?

Something similar happened to me when I used to sell cars a customer called a con man lol sleazy salesman and much more after follow up he came back and bought 2 cars from me lol people tend to act random at times.

@Derek Sym

Awesome and welcome to BP I'm in a similar situation as you first of all my girlfriend took me to PR last year beautiful place! but I soon noticed the government is doing a horrible job similar to Dominican Republic a lot of corruption!

But your on the right track since your using a VA I'm not familiar but I have seen you can do 0 money down and allow to use your 40k for back up. Or if you're planning on buying on PR possibly look into a flip since things are very cheap, Derek also check out the city as of right now my city is providing me a down payment and closing cost so I'm putting nothing down but the restriction may suck! call the city check around but make SURE TO CHECK ALL OPTIONS!

Hi @Adam Worth

Note I'm not an expert negotiator but have been doing sales for a while now and since I'm still very young I'm noticing that the results you seek out of life comes down to how well you negotiate lol from buying a car, going on a date to everything (at least my experience lol) 

But this in one of the reasons I truly love Real Estate there's so much information out there for your disposal that you can justify the offer your going to make regardless the amount.

Since he's your neighbor don't feel like you're going to insult him because you just never know what that person is going trough in closed doors a ridiculous offer just might make his day especially if he can't financially keep up with it or it's stressing the person out.

Regardless just be prepared with facts baking up the offer your making, you can do this buy talking to a Realtor to get a CMA to see what has sold and get a ARV since his home is similar to yours, since you mentioned he overpaid this tells you that he might be underwater or have no equity this gives you an opportunity to ether lease option or some type of seller financing. In any event make sure to see the property and find any issues with it "meaning repairs needed".

At the end of the day you have a common ground with your neighbor and work this because if you get him to trust you he'll give you his house only if you are truly providing a solution SOLVE HIS NEEDS and make a deal happen.

Hope this tid bit helpped!

Hi @Frank Jones

Congratulations first of all in regards to being able to purchase your first investment I wish I had an opportunity to do so! 

But in regards to you questions it's hard to give you an accurate answer there's to many unknowns you left out especially the rent, how much will they rent for? are you managing the property yourself or PM? How much is taxes, insurance etc...? Just because your able to pay cash this doesn't always mean the deal will be profitable you also mentioned some landscape upgrades include this to the analysis also since the property is built in 1985 expect maintance. Try using the BP calculator and plug the numbers in if you are receiving a greater return than 9% (Stock market is average 6% to 8%) you should be good but don't fiddle with the numbers just to make the deal look good on purpose. We sometimes tend to convince our self a deal is good even though the numbers say other wise.

Hope this helpped

J.B Vizcaino