All Forum Posts by: Malcolm V.

So my first set of yellow letter from a 1000 went out this pass Saturday Thanks to @Jerry Puckett . Looking forward to my phone ringing with nothing but motivated seller in this tough Brooklyn, NY Market. I will keep you posted my fellow BPer's.

Hey Tedroy, any updates?

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Will definitely be looking closely at this thread. Good luck! Brooklyn is becoming a tough cookie to crack

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Looking at East New York for rentals.. Pretty much bad neighborhoods that have the potential to get better. Id consider renting those.

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Great thread, lots of valuable info here. Posting so I can save this for later.

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Originally posted by @Erin L.:

The VA is a great source for loan programs, but not all of what you want to do there will qualify, there are a lot of restrictions. I purchased my property (duplex) using a VA loan with 0% but had to live in it for a period of time to be able to use VA. It has worked out great however, and hopefully will be using VA again someday. I have to ask though since I am military… you are military stationed in NYC and pulling down 6 figures at age 22? There must be a piece of the puzzle I'm not getting, like maybe a reservist? Good luck to you and research those VA Loan "rules" before you start looking so you know what your options are!

Yep, reservist over here, and I will definately look into VA Loan rules :) Thanks.

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Hello BP!

I'm excited to be posting here. Working on adding a profile pic, are there certain size limitations I should be aware of?

Some background: I'm 22 and live in NYC (Manhattan). Working in IT, pulling low six figures. Been doing this for a 2 years, and I've saved up a little over 50k.

I'm eager to learn about flipping, but I think I'm in the wrong area to do flips so I am willing to relocate (I've been watching to much Flip or Flop lol).

But if that is too much, then my second option is looking into rentals, as per what my fathers tells me it also a good investment.

My dad is really helpful, he's been a superintendent so he knows a lot about contracting and such (which could be helpful for flipping). But he is also horrible at handling businesses, and we both agree that I'm better at talking to accountants, and handling the money end of stuff. We both learned it when I ended up having to take over and run his locksmith company, but in the end we both found better opportunities.

My main question is how much money should I have saved up before I think about Real Estate investing? Is my age going to be an issue? Oh and I should also add that I'm in the military and a few people have told me that might help me out in getting a loan, I just don't know if it'll help me get a loan for flipping intentions.

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All Forum Posts by: Malcolm V.

Malcolm V. has started 1 posts and replied 7 times.

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