All Forum Posts by: Frank Warren

cprntr

Great idea!!! thanks for the suggestion, ive started looking into investment clubs, specifically Brooklyn REI Club, New York City REIA, and Long Island Investors Group. i will join the long island group, and i am waiting for more information on the Brooklyn club. Do you have any that you suggest?

newbie101

Just to clarify, hope this is not a stupid question, but are there local forums within BP, or are you referring to another forum website, targeted to the market im going after?

You will defiantly see me in here, if im not posting newbie questions...lol, i'll be absorbing the enormous amount of valuable info that this forum and it pros have to offer..

What areas, and invest strategies are you considering?

Thanks for the warm welcome everyone....

dct123, I love the Houston area, in the future i think i might want to look into investing out there, one of my business partners lives out there currently so there wouldn't be any management issues.. If you would mind telling me, i would like to know, what Investment strategies do you utilize in that market?

welcome Pete, Im from NY too.... Have you thought of any specific places to invest yet? And what investment strategy do you think you will start with? i.e. rehabs, buyhold, etc...

Welcome, defiantly came to the right place...I'm in NY too, the the queens/LI area.. Do you plan on focusing up in Westchester or are you looking into the city area also?

A friend of mines lived down there and for about two-three years prior to us purchasing...he was tell me and my partners of the appreciation in the area, and good it would be to invest there. We did some research and his info was pretty accurate so we went ahead with the purchase.

Defiantly some lessens learned, number one would be to know your market, if we would have check new home sales, we would have found that these types of properties weren't selling...as fast has existing homes.

I believe a team in everyplace you invest is invaluable, our friend in florida helped allot, not sure if we could pull it off without hiring a property manager, without him.

This was my first long distance purchase , at this point i dont think that i would buy anyplace i could easily drive to, again. until i really feel i have a good understanding of real estate deals in general.

I was thinking about bushwick too...I agree new york is tough, Williamsburg seems to have experienced a good amount of growth though, alot of young professionals have migrated to there. I'm thinking that that energy might continue into certain parts of bushwick and east williamsburg.

Great minds think alike! :D im currently looking into Brooklyn, east Williamsburg, Bushwick area.... the energy that made once undesirable Williamsburg a yuppies paradise seems to be continuing deeper in Brooklyn into these areas... It looks like the perfect place to start, I haven't looked into the Bronx, but ill take a look, thanks for the suggestion.

DAL1

The deal in Florida is working well, We had the house built (wasent the best idea), with plans to flip it when it was completed, at the time property was hitting double digit appreciation, in central Florida and we thought we could ride the wave, and come out on top... but we were about a year too late, the house sat on the market for about a month and a half before we decided to just rent it. Fortunately a friend of ours was in the market for a house, but his credit wasent tight, so we took a chance and gave him a lease option, two years later he's still renting... :cry: But he never misses a payment and is always on time so were not too sad about that.

We have to come out of our pockets about $300 a month to cover the difference between the mortgage and rent.... but thats better than the whole mortgage.

And i agree with you, living in a house after its fixed up for a while, in exchange for tax free gains is a beautiful thing....do you know if that is the same for every state or is that state specific?

REI,

To answer the question "do you enjoy corporate work" would be a resounding NOPE.... I work in sales and my job is not horrible, but i want to be my own boss, and control my own future.

As far as what aspect of RE im interested in, I really want to understand deals and deal making, so i think it would be best if i started on rehabs (do you agree?)...but i don't want to get stuck with the property like in Florida... so this time i will make sure i know the market better. Also it seems like birddogging would be a good place to start and learn what makes a deal good, without risking any of my own money. Your thoughts?

BIGGERPRO

I grew up in Jamaica queens (Rochdale village), im currently in Freeport long island now... Are you still in NY? If so, do you do any investing in NY, and if its not too much to ask, where in NY do you invest?

Thanks for the warm welcome guys.... :mrgreen:

A dream is but a look into YOUR future...

Nobody can truly see your vision from your prespective, and though we love our friends and family, we can never let them discourage us or set them off the path we intend for OURSELVES...

Im a newbie, in real estate and similar to others here, i try not talk about what im doing too much, cause you always get the "nows not the right time" or "you can loss allot of money in real estate" but these comments usually come from people that have no real knowledge of real estate investing

You are in the right place, although im new to BP i can already see that by surrounding myself with these Sharp and knowlegdable investors, i can get all the motivation i need to succeed in the game....You can too

Just my two cents.... good luck :D

Hey guys

I want to get into the new york real estate arena, specifically areas in brooklyn and possibly queens. does anyone know of any areas that are both affordable and experiencing growth? Thanks