All Forum Posts by: Jerry Ciesielski

Hi Zach!

Welcome aboard!   Be sure to set up keywords for your account.  I use 'Buffalo' as a keyword, and then I received an alert about your introduction posting.  Viola!  It's a great way to get informed about topics you may be interested in, as well.

Also, don't forget to listen, or watch, the Podcasts.  I'm slowly working my way through all of them.  There's so much information there.

Keep your eye out for a Buffalo-area 'meet-up.'   A bunch of us are going to get together to chat and network, soon.

Best of luck to you;

~Jerry

Hi @Michael Vasquez,

I'm late to the conversation here, but, I think it's good you are NOT using your credit card and doing more research, especially if you just repaired your credit, and may have low limits and high APRs.  Yes, there is an opportunity cost involved in waiting, but (pardon me if I'm wrong) it sounds like you are doing the right thing by educating yourself more.

You mentioned you found " a really nice property in a good neighborhood" for $12,000 AT FORCLOSURE, which MAY mean - that is the opening bid or judgement amount. It may actually be a good deal more. Plus, you need to know the After Repair Value (ARV) and the cost of the scope of work inside, to repair it.

Definitely attend that homebuyers seminar you mentioned, and also, do more reading on BP under the "education" tab.  Especially, in your case, I'd recommend you listen to BiggerPockets Podcast #009, "Using Hard Money Lenders to Grow Your Business with Ann Bellamy."

I'm from Buffalo, lived here my entire life - send me a private message if you want to chat about your situation, foreclosures, or private money lending. 

Hi Shawn;

I'm also from Buffalo, have keywords set for that word, and am on BP everyday.

Be sure to set keywords for your account, listen to the podcasts and read through the mountain of free information available in the 'education' section.  (Check out the Ultimate Beginners Guide.)   I'm slowly listening to ALL the podcasts while I drive in my car.

There are a few new Buffalo members that are interested in a meet-up.  Keep our eyes peeled for the next announcement in the 'Networking Events' section.  Again, keywords.

Jerry 

Hi Justin; Welcome back to Buffalo! If you're originally from here and just returning, I think you'll agree it's amazing how quickly things are changing here. The excitement is palpable I've spent my entire life in Buffalo and know the neighborhoods well. A few of us are planning a meet-up. Use "buffalo" as a keyword to stay updated.

@John W Sheffer Jr

John; I'm actually a more of an an "Acquisitions Manager" for a small development company, dealing mostly, but not always, with foreclosures, distressed, and fixer-upper properties.

Hi John; Another Western New Yorker here! Welcome to bigger pockets! Don't forget to use the keywords feature on your account. I find Buffalo and WNY helpful, but you might want to add Eden, masonry, or other keywords topical to you. ~Jerry

Hi Chris; Welcome to Bigger Pockets! Be sure to set up keywords, for instance "Buffalo" or "multi-unit," so that you get a notification when people post things that are relevant or interesting to you. It is one of the best features of this site. Also, I'm really enjoying listening to the podcasts while I drive. They are super informative and there is something to learn regardless of your knowledge level or commitment. Check them out! See you around Buffalo! ~Jerry

Commercial property should be valued on its income earning potential, not comps. So in that respect, I'm not sure a map-based website, showing current rental rates, would be useful. Check out BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli, which, while old, still has a lot of great information in it.

Hi James, I have been looking for a REI group in Buffalo, but haven't found anything, so was taking steps to start one. I recently attended a seminar where I met a few others who are also interested, plus, there's been some interest here in BP in the last week. I was thinking of something as simple as a meeting at a local restaurant. Let's connect and see if we can get something started. ~Jerry

Hi Hannah; The market for rentals in the Buffalo/Niagara region is still very strong, but the area varies greatly by neighborhood - often block by block. Do some research to determine what area you want to focus on based on your budget. Neighborhoods such as the Elmwood Village, Kenmore, or Williamsville are established and demand very high rents, and are a safe investment, but with high cost of entry. Other areas, such as the Lower West Side, Grant-Ferry, or West Side, are hot and growing. There are still many good deals to be found there. Areas such as the East Side, South Buffalo, Black Rock, and Riverside, are a bit challenging. In those cases it is better to have a more intimate, local, perspective on each and every deal. Best of luck to you. Let me know if I can answer any other questions.