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All Forum Posts by: Isaac El

Isaac El has started 49 posts and replied 257 times.

Post: best skip trace

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

Hi,

Wanted to touch base to see what you would say is the best skip trace? Do you recommend anything compared to Transunion?  Many times the owner of a property has passed and need to contact the relatives, I know transunion is very good, want to know if anybody else has any recommendations for any others?

Thank you

Post: just bought a property, and false mechanic lien filed against me!

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

Has this happened to anybody else before? this is a first for me.

Bought a property about 4 weeks ago, and then 2 weeks ago mailman brings a certified mail, i open it up and it has a mechanics lein against me for the property i just bought...........  so i contact my attorney and scan copy and send it to the sellers attorney, they claim they have " no idea what its about" so I contact the company that filed the mechanic lein and they say "the seller owed us money and was really sleezy, they asked us for more time, then when we contacted them they said they sold the property, so we filed a mechanics lien against the new owner (which is me)" 

Can they do that? this previous contractor, i never hired them, or have any agreement with them, or know who they are.......  When I looked it up it looks like it is a false mechanics lien against me, and the company needs to do go after seller for money owed between them....  

does anybody have experience with this?

Post: New Haven, CT contractors for triplex rehab

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

@Pedro Alvarez hi Pedro congrats on the deal, New Haven is a great market, wanted to ask you, how much did you purchase for? what do you see rentals going for?

Post: Wanted to share my 4th deal/first BRRR Deal

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63
Originally posted by @Robert Washington:

Hey @Isaac El,

I found this deal networking through a family friend. I was originally going to wholesale the property, but the numbers were too good to pass up. I will message you my contact information so we can network and discuss our approaches to real estate investing. 

 Sounds good!!!

Post: Wanted to share my 4th deal/first BRRR Deal

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

@Robert Washington. WOW congratulations!!! that is a great feeling and keep it going, would love to hear more about the deal, how much where they originally asking? how did you find the prop? 

Post: Eviction advice needed

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63
Originally posted by @Pat Heidingsfelder:

@Isaac El. In our county, the courts are allowing evictions just not for non payment of rent. 

wow very interesting, YOU ARE LUCKY, in NY and no evictions happening at all, for a while!!! 

Post: Eviction advice needed

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63
Originally posted by @Pat Heidingsfelder:

What county are you in? We've had luck with evictions even in these trying times. I can help you out if you happen to be in Harrison County. Shoot me a PM  to see if we can help you out.

 How have you had eviction?

Post: Can I pay with a mortgage instead of cash?

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

don't worry, make offers and put property under contract.... once it is under contract and you have a deal, the financing is the easiest part to figure out.

Post: Investing as a millennial in NY/big cities amidst COVID

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63
Originally posted by @Shulammite Ng:

Hi everyone, my name's Shulammite and I recently found the BP podcast through another real estate investing podcast! I've gotten really excited about REI after listening to so many success stories of regular people using flips and rental properties to work their way towards financial freedom. I know that the first step before investing is to have your personal finances in order so I've opened up my Roth IRA (my job doesn't offer a 401k), paid off my credit card, and started saving up in an online savings account. Finally I feel ready to focus on REI. Although I'm still learning, I want to avoid analysis paralysis so the plan is to take the plunge on a real estate deal this year.

Unfortunately I live in NY and the prices of property here are much higher than in the midwest. To start, I'm looking for a deal in my area so I can be really hands on throughout the whole process. Ideally I'd like to purchase a property in the borough of Queens or Long Island potentially with a FHA or a new homeowner loan for less money down; I've been looking into renting out by the room and house hacking strategies but unsure of where to start.

Can anyone that's invested in a saturated market starting from nothing offer some advice on which strategy would be more effective or if there's another one I haven't heard of? Welcoming advice from anyone who's had even one investment deal or even in the process of closing on their first.

If you've read this far, thank you I appreciate any input I can get :)

Hi, you are taking a great first step.  NYC (queens) is super competitive, a lot more than lots of other areas in the country.  What I would recommend is to try to do some wholesaling.  (you will need less money to get in, you find a deal, flip the contract, then you can do some buy and sale.

-all the best

Post: Needy tenant and his mom

Isaac ElPosted
  • Springfield Gardens, NY
  • Posts 258
  • Votes 63

Hi Kari, that sounds like an annoying tenant, but kind of makes sense because probably this is the first time the child is living on their own and the parent is concerned because there are issues.  I know you don't want to hear this - but you say there are issues you didn't know about it because it was empty for 3 years... honestly to me that's not an excuse.... you would have saved yourself headache, and you should have done your own inspection because you know its been empty for 3 years... so you should have checked yourself to see how it is, what needs to be repaired, then you would have not had this issue to begin with. (saying it respectfully, I have learned a lot of stuff the hard way like all of us here have). just be respectful, and fix whatever issue it is, then I am sure everything will be fine and you won't have to deal with the parent anymore....good luck