Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Joanne Eriaku

Joanne Eriaku has started 7 posts and replied 164 times.

Post: Question about wholesaling

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Isaac Ruiz, there is no singular place to start but I'd say start by understanding who would buy from you, who is your customer and what exactly is it they seek in a property, equally important is to know how to analyze deals, if its not a good deal, you'd be stuck with a property that no-one wants. Most residential sales utilize the Comparative Market Analysis approach- find lessons on that, I'm sure there are some right here on BP too....feel free to reach out for specific inquiries, I'm an open book

Post: Flip up tp 100k in long island?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Sam G., with a hard money loan added to what you have, this would be possible, otherwise...NY tough. There are opportunities in every market, every area- you just need to look closely, don't despair. If I may, why Long Island? how about upstate NY? 

Post: Help a newbie with the numbers?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Tiffany Watkins, easier to input those numbers into a calculator, there should be a deal analyzer right here in BP tools or you can PM me for a deal analyzer, also, add only that which truly adds value in the marketplace it is in, for example, if it lacks a garage in a neighborhood where a garage is expected, definitely the garage would add value. Check out the cost vs value report here https://www.remodeling.hw.net/...  and feel free to reach out for moral support, I may not be an expert myself, but I know I thing or two to help. 

Post: Where can I get free motivated leads ,

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

Free isn't free in that it takes more time and effort to accomplish what you would easily accomplish if it was paid for. Also, take time polishing up your pitch if you are going to cold call, distressed situations are very distressful for the seller, they are wary of people trying to take advantage of their situation- why should they talk to a total stranger? prepare yourself for wow factor.  And finally, you will need money to make money, if you do find a deal, you have to think of an Earnest Money Deposit and such like expenses...are you sure you want to do this right now? 

having said that, here are some ideas:

1) Walk/Drive around your neighborhood look for signs of distress like unkempt homes.

2) Talk to your postman, ask him if he knows of any vacant homes.

3) Go to the local courthouse for probate leads or find them online on mypublicnotices.com if your state lists them there. Also the local classifieds attimes have the probate names.

Post: Rehab costs on occupied foreclosure with no access

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Jeffrey S., I wouldnt walk away, I'd start by assuming the worst and do the numbers based upon that. 

Post: Funding My First Flip

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

Yea, sounds like you found the wrong ones...there are many who lend to inexperienced investors, try Lima One capital, 

Post: Can't find a buyer - what to do?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

Adam, a little more context please, I assume you meant to wholesale it, right? The bigger question for me is why there is no buyer, is the deal too lean? not in a good area? is it a deal you would have loved to close on for yourself if you had the money? or its undesirable to you too? about the EMD, yes you could lose it, depending on the contingencies you factored in the agreement, what did you sign to?

Post: Wholesaling. How do i find buyers in my area ?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Jair Salgado, start with your local REIA, search for folks from your area right here in BP, ask them about your local REIA, join the meetings, get to know who is who in that network. Everybody supports everybody. Also look out for signs of we buy houses for cash in your neighborhood- those are cash buyers, they also put up those signs on craigslist. Google cash buyers near me, you might be surprised, I found 2 just like that. But above all- network with your local ecosystem of investors.

Post: WANTED: New Best Friend

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Neomi Heard, feel free to reach out to me, anytime, i'm relatively new to but happy to share whatever knowledge I have. Chin up :-)

Post: Wholesalers New Jersey

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Tiffanie Grinage, speak with @Jonathan Greene, he is quite knowledgeable with NJ