All Forum Posts by: Jesse Wixson

I've talked to him and after several attempts to get information he was very uninformed on the topic of lending. He sent me a word document of his services that wasn't more than two paragraphs long of what the loan terms were. I don't trust him

that's a good spot but may not be the most effective. What type of real estate are you interested in? What kind of tenants do you want to deal with? I deal with investors across the country. Call me and we come up with a solid plan to get you where you want to be.

Hello @Sam Clement

Welcome to the Ithaca side of BP.  I've been investing for a few years now and I live here in Ithaca. My network extends from here to Atlanta over to California and Hawaii and back. I belong to an investment company that is national with regional offices all around the US. I may have access to your private lenders that you're looking for.  I also run the Ithaca Real Estate Investment Education Meetup. Going to my meeting as well as LATC with give you a big advantage. The other place is joining the Ithaca Board of Realtors (not as an agent) so you keep yourself up to date with rental laws and fair housing laws. 

I would like the opportunity to have coffee sometime with a fellow local RE investor.

I am an agent in Ithaca and Tompkins County specifically. Its is a requirement that the seller have a current CofO on an investment property. If this is not the case, the seller is in violation of NYS law. Any income property must have one. To specifically answer your question, Yes make them pay for it, it isn't much and doesn't take to long. 

Will, @Will Jo

I live in Ithaca and invest in the different markets that surround the area. I know the area quite well for residential sales as well as market rents. Many of the deals that I have worked are off the market, the mls is retail or high price (buy low sell high). I specialize in multi family and single family residences. I also don't deal with traditional lenders for the first phase of my projects. Banks are very rigid in what they are looking for. I work with owner financing or lending institutions specific for investors to get the project moving and rented. I then go to the banks and get a traditional mortgage with known rents. This makes it so I don't have to "draw" renovation costs and I don't have to come up with 20% down. If you would like to talk feel free to reach out. 

Jesse

This just what I accomplished this month. 

This property had a home but became a total loss do to a house fire. She wasn't really sure what to do with the property and had some emotional reserves about moving back to that piece of land. As we spoke it became very apparent that she didn't want to live there when we were discussing different options. Our agreement was that she would sell the land to one of my RE companies for $1. This way I was the only one on the deed and could finance and develop it. On the back side she agreed that there would be a memo filed with the county clerks office stating that she has "interest" with the property. In a private agreement she becomes a partner and takes payments based on profit percentage. She has a floor income (no less than amount) and a ceiling (no more than amount). As the building has been cleared away part of the deal is that I take on all expenses of transfer, taxes, development. 

She chose that future gains out outweighed today's gains so she agreed. Currently the land is a .3 acre building lot within the village with all utilities already at site (which limits my hookup expenses), with a hole in the ground as this is where the foundation was. 

With my philosophy of paying it forward as much as possible this is a win/win/win situation. The community also wins because there will be a very nice house where there isn't one now.  

Be paranoid that everyone is meeting, and every interaction you have with people, they are plotting and scheming to figure out how to help you!

Taking this mentality and the in depth education that I have, I received a commitment contract that I could buy a building lot with full utilities for $1.00. That is right $1.00! 

I'm going to either put an $85,000 module up and sell it for $140,000 or to put up a duplex and bring in $2,700 a month. 

This is this month's success story

Stay positive, happy and help everyone 

Jesse

@Nasir Francis,

Welcome to bigger pockets.

Syracuse is a great city. You should come up and look at it yourself to find the neighborhoods you want to target. I live about an hour south in a smaller city called Ithaca. I have set up a nice network of sellers and buyers here in the area. I lend out my hand as I mentor a few investors that are trying to get going in the upstate area. Wholesaling is only one of many strategies, you need to find one that fits you personally as well as your wallet. 

If you need anything just reach out and ask. Have fun on Bigger pockets. 

No prison here. Lucky we even have county here. There is a big one about an hour south. 

@Daniel Singh, 

You were supposed to be attached to that post as well. 

Jesse