All Forum Posts by: James Colon

Elia thanks for your post. I have over twenty one years experience managing coops and condos in Manhattan. My issue is that I cant find properties in my area that are affordable and my 40k is not going to be enough for down payment etc. I am trying to find out what areas bp members are investing in that live in my area of New York.

I am from Mahopac New York. I have been able to secure $40k to use for my first investment property. I am looking to get passive income or to flip a house. My problem is that I am having a problem establishing my farm area since the prices in this area and the taxes make it hard to find something that I can invest in. Look forward to hear some of the members who are in this market and where they are looking.

I would suggest you read the book on flipping houses and The book on estimating rehab cost by James Scott biggerpockets.com. Once you read these two books you will know the steps you need to take to figure out the cost of the rehab. Let a General Contractor help you prepare a SOW and figure out the rehab cost before you consider making a offer. No one in this forum will be able to answer your question by looking at a picture. They might be able to give you the value of the house once you rehab the property if they know the area but that it.

James