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All Forum Posts by: Eric M.

Eric M. has started 13 posts and replied 70 times.

Post: Can Real Estate investing?

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12

Can real estate investing be done this way? 

 https://www.youtube.com/watch?v=HmDh13WoFcI&t=160s

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12

Anyone?

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12
Originally posted by @John Hickey:

Eric M. Ok. What's your budget. What's your plan....living in one of the units. Buy a fixer or already rented out.

Do you have a w2 job? How's the credit. Down payment. How much do spend/ make a month.

 I would like to rent the units out, Don't have a w2 job, Credit is good score is 790. 

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12
I want to get started.

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12
Originally posted by @John Hickey:

Eric M. Well it won't be easy, but for me I can tell you that it's worth doing.

Do you want Multi family or single family? Do you have kids that have to go to public school or no kids or you can do private school? These things come into play in a big way.

Can you live in a rough area....say east NY or parts of Jamaica?

I like Jamaica long term. I really like east NY. If you could get state some concrete goals it would be easier to assist you. As for mentoring ask for help, listen to advice and discard what you don't like, once you see someone that's got what you want ask them for help.

Do you have a good salary? Are you saving?

I was talking to a young investor the other day and I asked him what his plan for saving was. He said first he needed to pay his CC off BC he put 3k in tires and rims on his older M3 BMW.

At that point I said to him take a look at my car what do you think?

He said my car is a junker. That's true. I drive a beat up Camry with 200k mikes. I then pointed out to him that I own a few houses free and clear and I am purchasing 36 units with more than 50% cash, right now.

I've never owned a new car. I used to travel a lot though. 100k miles a Year. That was my weakness, that and I ate at restaurants a lot.

I then told him that if he keeps it up with the cars he can be sure he'll always struggle.

The point here is that people with a job that struggle financially most likely have a weakness. Find that weakness. Discard it. Set some goals make that happen.

 I would like muti family.  It's difficult here in Ny to find someone to mentor me. I don't mind livin in Jamaica I know all about the area.

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12
Originally posted by @Steven Greenhill:

Every HDFC building and unit is different -- some for 2 people are60,000, some are 150,000 -- it depends on the HDFC

 Remove

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12

My Goal is to  Rehab, Buy and Hold for long term income.  I'm having a hard time getting started because I haven't found anyone who could mentor me in this area.

Post: Starting out in New york??

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12

Is possible to start Real Estate Investing in NY With good credit but low low funds?

Post: Queens.NY REI Groups Any?

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12
Originally posted by @Account Closed:

We just had one last month. Look out for the next one in August. QUEENS based.

 Where will you have the next one posted?

Post: Queens.NY REI Groups Any?

Eric M.Posted
  • Queens, NY
  • Posts 73
  • Votes 12

Thanks Everyone