All Forum Posts by: Account Closed

Does anybody know of a good real estate attorney in New York City? I'm getting towards putting an offer on a deal that I found and I want to make sure that the real estate attorneys are investor friendly. Any input as to where to find a great attorney will help. 

Did you have a contractor on your team that gave you an estimate of those numbers? $18k in rehab seems very light. 

@Chris Stephens

Before you make a firm commitment to wholesaling, make sure you do your due diligence and finding multiple exit strategies such as:

1. What happens if you find a buyer but then change their mind prior to closing?

2. If you can't find the buyer, do you plan to fix and flip it or buy and hold the property?

Also, make sure that you know what your offer is and what is the cost of repairs, holding costs, closing costs, etc. for the place. Buyers will know it's a deal when you run the numbers correctly and they make a certain amount of profit if they invest in the home.

@Xavier Ordonez, how many quotes have you gotten regarding the repair costs? It appears to cost more than the 45k that you wrote down. Also, for the other comps that you listed, are those homes also 4 bed/3 bath homes within a 5-8 block radius?

@Wendell De Guzman, that sounds like great stuff. Keep up the good work and this is extremely motivating.

@Jay Hinrichs, it definitely looks like it and I'm not sold on his marketing campaign

@Julie Hicks, can you tell me how you get to 10 deals per week? That seems an awful lot of deals for just one city. Also, in order for these properties to be deals, there has to be many homes significantly under market value.

@Simon W., how often do you host this event? Is it a weekly or monthly event?

@Account Closed for letting me know as well. I'll do my due diligence and read about the laws before I decide to hire an assistant. 

I want to be able to build my business faster and one of the things I realized is that I might be doing a little too much work myself. Although, I'm currently working as a part-time investor, I realized that I need to make time for my day job, my real estate investing business and time for my personal life as well. To make things go faster, I'm considering hiring an assistant to help about a few hours per week, no more than a few hours a week, in helping me find deals and with marketing my business. For all those reading this, I have a few questions:

1. When hiring the assistant you were looking for, did you interview that applicant in person? Or did you hire a virtual assistant (whom you have never met in person) and select the best candidate? If you hired a virtual assistant, where did you go to find them?

2. How are you able to touch base with them on a weekly basis to ensure that they did their due diligence, logged in their time and sent over the things that you needed from them?

3. Also, considering that I am only hiring them for just a few hours a week, I'm thinking of keeping it simple and just paying them in cash. Is that a good idea or not?

Trying to maintain my own business is still very new to me and I want to try to build my business as efficient and prosperous as possible. If you can provide me with some advice, that would be greatly appreciated. I would definitely like to learn more from all of you.