All Forum Posts by: Jessica G.

Hi, Bigger Pockets Family!

       My husband and I have plans to invest in Real Estate by the end of this year and I had some questions in regards to how to start. We want to Buy and hold for passive income via cash flow.  The decision is made and we are committed to creating our own portfolio from now on. 

What do you think is better to start this venture?

 To buy as a married couple and get a traditional mortgage (we do not plan to live in the property)

or

Form an LLC to buy the first property within that?

or

Buy as a married couple and quickly after that transfer it to an LLC

What are some of the ways you guys started your first Buy and hold investment properties?

What is the best way to do this?

Considering that we are currently living in NYC, and this is very expensive for us at the moment, Where do you all think would be the best market to start? 

We were considering the following areas:

1. New Rochelle, NY
2. Jacksonville, FL
3. Pueblo, CO
4. Cleveland, OH
5. Las Vegas, NV

We did some research and figured that the above locations are good areas to invest in this year. 

Our goal is to have multifamily with a minimum of two units: however, the areas above like Pueblo, CO and Jacksonville, FL are single family homes, so we can adapt to the market as long as is profitable.

Also, What do you all think about turn-key investment companies, We seen a company called JAX investments in Jacksonville, FL and wanted to know if anyone used them and how was their experience working with them as well as how was the process for you. They seem to be solid and take care of the whole process, from buying, renovating, renting and management the property, and still, they promise that it could be profitable for us. We are aware that a turn-key will cost us more money; however since we are new to RE investing, we want to minimize our risk. 

We are looking for a range between $50000 and $350000. We are committed to making a 20% down payment.

Thank you all in advance for your input!

Best,

Jess G

Hi BP Members!

I got into an interesting discussion with a Real Estate Agent in my area. The RE agent was clear in stating that no broker would even talk to someone looking for a FHA loan in Astoria, Queens as it is too high of value here. It is at the very least $200k in cash or no deals.

So my question for the BP Members is:

Is this True or False?

Thank you guys for all the help.

Have a fantastic day and keep investing in RE!

Best,

Jessica G

@David S.

Hi David,

How are you? Curious as I am also new to BP and Investing in NYC, You bought a coop in Manhattan Renovated it, rented it and then sold it? Forgive just how green I am but I was under the impression that Coop's come with a lot of Red Tape from the Company that owns it. How did you managed to do all of that with your Coop in Manhattan?

@Ray Hespen

Hi Ray,

How are you? These sites are awesome! Thanks for sharing! How do you keep everyone in your operation updated with these products? Do you or an assistant update them each time?

@Shmuel Harris

 What exactly is the New York Attitude? Is the market hard because of how fast things move?

@Shmuel Harris

Thanks for the tip! Do you know any investor friendly Attorneys and title companies in the NYC area by any chance?

How is being a Real Estate agent in NYC?

Thank again!

Hi BP members,

I wanted to know if you wholesale deals in NYC. I currently am looking to do so as well, as I now have time to preform proper due diligence and deal analysis. Any tips on farming the market in NYC for wholesale deals? 

hi @Josue Garcia, interesting that you invested in upstate NY, as I was thinking to start there as well however after reading a few more post about the Market in upstate NY, I decided I will try it but not as my first investment for personal reasons. I would love to start in my local area, or any where in the five boroughs really. Are your current pipeline deals in NYC? Also do you happen to be a part of any REI groups?

Hope your deals close with a breeze!

Hi @Shmuel Harris, thank you for the welcome! I have only been on this site for a few days now and I have to say this was one of the best steps I could have taken to learn more about real estate investing! The content my seem a little overwhelming at first but I am chipping away at it and so far I love all the information that is out there! 

Do you investor all over NYC??

Hi @Chaim F.,  thank you for the welcome! Do you manage several properties in Brooklyn?