All Forum Posts by: Vania Castillo

Hi Jay,

What happened about you providing me information from those 2 owners?

Unfortunately, I already have another engagement :(

See you next time and have a great time everyone!

Hi SHerwin,

I agree with the above advise about continuing to connect, focusing in one niche and become very good at it.  However, for someone who is busy and has a job, I'd say go buy and hold.  

That approach is a little less time intensive and you can finance your deals if you have a job and good credit.  Wholeselling, it's definitely NOT the easiest. There are a lot of moving pieces as Hattie mentioned.

Anyway, whathever you decide: Focus, and go for it!

Best, wishes :)

I'm too!

Searching I have found three players so far: ABC investment properties ( Had a bad expereince # 3 with them even before I started to make any dealing with them!).  That negative expereince lead me to search and I came across Solo Realty (a family own company) and HNPS, a tri State company.  

I'm hoping to get in touch with both of them and explore the posibilities of working with one of them.  However, I'm open to other options, Frank McGovern.

Hello,

I'm so glad I ran into this thread, because I don't know what to do.

I have been considering to buy my first property from Jay from AABC investments, but so far this has been my experience:

Last month he arranged a phone conversation and he called 3 hours later.  He told me that he would place me on a waiting list and give me the "first right to refuse" in the next triplex he would get.  He did not follow through.  Checking inventory, I came across a triplex and made a phone appointment for today.  He did not called.

Should I pursued dealing with him, since my experience tell me he is not reliable?

Hello BP community!

Can anyone recommend an accountant in NYC?

I'm having a very difficult time to find an accountant familiar with RE investing with good customer service.  

I worked with one: Great customer service, but I ( Someone knows nothing about accounting) had to teach her how to deduct maintenance charges after I bought my coop apartment.  No good!  Then...I tried to work with this guy.  He is familiar with RE, but his customer service sucks.  He does no call back or reply email and it is costing me money.

Please Help!!!!

Ben Leybovich: Ha,ha,ha.....Keep dreaming :)

I agree with you ( although way better in a year than a CD!). However,as I become a more sophisticated investor (Thanks BP!) and deploy larger amounts of money, I'm expecting higher ROI. Obviously with a larger capital and higher risk I would not go for less than 15% these days.

I just shared my simple experience with WIlliam to validate the fact that after doing due diligence; BP is good a place to get information, ideas, check reality and why not? find partners and make deals. I has worked for me and perhaps, hundreds of other members.

William: You are on the right track, connecting with people that can add a lot of value and wisdom to make the best decision: Brian and Ben among those!    

Hi William,

Wow....As usual BP community has come with great information and presented you with different options!

I shared your positon in many aspects, although I'm in NYC and this is my limited experience.  I have succesfully invested in small  syndicated deals with a minimum of $10K and have been offered up to $50K to invest  at rates of return between 7-10% in a year or two.  I decided to go with little money and short term to "test the waters" and so far I'm pleased. As Brian mentioned I scrutinized the syndictor the best I could, looked at his track record, model of business (something I could understand) and met with him several times before investing. 

Now, in addition, I'm looking in to turnkey properties within 2-4 hour away from NYC.  I recently went to TX with the intention to invest there, but realized that I prefer a closer markets (at least to start), as eventhough turnkey properties are hand off, I want to pass by my properties from time to time and look at them.

To finalize my comment, I think Kristin's point is worth to consider as investing is like a journey.  So before choosing the route is important to choose your destination.

Ben Leybovich in case you read this:  Sorry, but in my opinion, eventhough you are fairly good looking, Brian Burke is better looking than you :)

Good find Darren!

Hi Ash,

These are my two cents and I'm a newbie too, but according to the research I have done these are my findings:

SFH tent to attract tenants for a little longer, specially if they have children in school, since once they are stablished in a particular school distric they want to stay there. Multies tent to have a better cash flow, but tenants are more transient, however when your tenant vacates your SFH your cash flow is "0". In a multi your cashflow drops, but you still have other doors going on, hopefully.

Buying multies can be more beneficial if you are going to use conventional financing, because there is a cap in how many loans one can get. I believe the maximun is 10. If you finance 10 SFH, then you only have 10 doors and to continue you have to become creative. With multies, 10 loans is 20,or 30 or even 40 doors or a combination depending of wheather you get duplexes, triplexes or quaduplexes or a combination of those.

I have been looking at the market in TX (Dallas and surrounding areas in particular) and thse are my findings. Taxes are lower than in Norther NJ. The majority of properties I know of are SFH. They cash flow O.K, and appreciate well, for now. The market there seems "hot" for 2014.

A market I found interesting and actually has a lot of potential is Philly.  Taxes are ridiculously there are low there and prices are no as high as all other cities in the Northeast.

I hope it helps!

Vania