All Forum Posts by: Jacqueline Pelzer

HI guys,

I live in lower Westchester (Mount Vernon area) and looking to invest either Yonkers or the Bronx.  Prefer multi-family properties.  And since I'm new I am still feeling things out.  I am looking to get a loan with 20% down and then refinance cash out if possible to do another one.  Currently, I own my primary residence (co-op) outright so I have full equity in it at this point.  Looking to see how I can make that equity work for me to buy additional properties.  If possible of course.

Was Legal Zoom sufficient enough?  Because I've heard many a business or real estate lawyer say going Legal Zoom is not a good idea. Is it because they just want to your business and all the money that would cost or is it because Legal Zoom isn't enough to really shield you against a possible issue?  Also is it true they aren't even lawyers?  That's what one attorney told me. 

@Michael Hong

Yes good idea. I go often to visit my sister who lives in Philly and was a student herself at Temple. So I saw the opportunity when she was going there and she lived in one of those houses. 

@James Masotti 

It's usual for big cities like Philly to be a block by block experience. I'm a native New Yorker so I know it very well. I'll get to know the neighborhood better and will definitely tread lightly and have my boots on the ground or someone else I can rely on. Thanks. 

@Max T. I'll just leave that alone. 

@Michael Hong I need to become more familiar with the names of the neighborhoods. I'm interested in the Temple Univ surrounding area and also West Lehigh in the 30's. I'll do more homework about that. Because I'm just getting my feet in the game in not yet well enough versed in it all. 

I'd love to hear the responses to this thread. I'm also a New Yorker interested in Philly. 

@Nicole Graves

Yes the webinars are a great stepping stone. I will start watching some. And also finding an REIA to attend locally. Thank you for the warm welcome and suggestions. I'll have to look at the books that @Paul Timmins suggested. 

@Ryan Donohue

Thanks so much Ryan for that warm welcome. And your suggestions are spot on. I will take action and continue to look through the forum. 

@Mark Callazzo

Hi Mark. Thanks for the welcome. I'm going to have to start with learning about cap rates. :-)

@Paul Timmins 

Thanks so much, Paul, for all of that great info. I will definitely do those steps you suggested. Looks like a good avenue to do the homework I need to do before I get started. Thanks again. 

@Michael Hong thanks so much for the advice. Have you found it hard to find investors?  I'm not entirely sure that's the route I want to go, but I'm just at the beginning stages so learning as much as I can is my goal right now til I'm ready to make the jump. From what I've seen and read I think Philly would be a better more viable option that NY for me. But the jury is still out on that one. :-)