All Forum Posts by: Account Closed

Hello @David Michael, thank you for the quick response. As expected and have been told several times, I almost will have to find access to MLS. In regards to your office, can they provide listing in the Queens, NY area? (specifically Woodhaven, Richmond Hills, Briarwood, and Forest Hills)

Hello,

Working on obtaining my first REI deal. My overall end goal is to invest through buy and hold/flipping deals, but to start out I am venturing into wholesaling. Around my neighborhood there are about 2-3 properties with for sale signs and for sale by owner. I have done a lot of research on the properties (market value, size, location) but have been stuck on giving an offer because I am a bit concerned about the ARV. Having a hard time (or maybe it's low confidence) figuring this out. I know what to do and how to calculate an asking price thereafter, but not knowing the ARV is holding me back. My main source for data has been Zillow and my counties public records (assessments and tax information). The values I take a look at between those two sources of data never are the same. Maybe I am using the information I find on those sites incorrectly? Or using the wrong values all together? If you have a certain process please let me know.

I have called some brokers/agents around the area who have told me that they have access to MLS, but I also have no idea what would I offer being a first time investor. Should I give them a cut of my wholesale fee? Give them referrals to the deals that I can't close on? Not sure what an agent would want or why anyone would work with a "newbie" just because. If you have any suggestions or comments that would help me to understand calculating this correctly, that would be greatly appreciated.

Thanks

Hello @Kenneth A. Hodges and welcome to BP! I am new to investing and reside in NY  as well (Queens) but can tell you that  you're in the right time and place! The block around BX (specifically south) is hot!

Welcome to BP @Account Closed! Living in NY right now, but I am originally from PG, Maryland. That's where I expect to land my first deal. Hope the forums are of great help to you!

@Steve Peterson

Hello @Steve Peterson, following up on my venture. Quick question...you mentioned "I suggest you pick a brokerage that has a good reputation"

As an amateur, what are some signs that would suggest I am dealing with a broker with a good reputation and service?

Thank you for the feedback gentleman! @Steve Peterson @Neil G. I will surely give an update on my venture.

Hello everyone!

My name is Joba and I am a current insurance analyst for a mortgage firm in Manhattan looking to start my investments within RE. I'm completely new to the field outside of my daily job and consider myself a noob, but at the same time very much eager to land my first deal transaction. After many networking events, seminars, online courses, etc I do believe the time is now to start. It is my wish to start with a small buy and flip project and then move on from there, where I eventually build on buy and hold properties. 

Walking around my suburban-feel neighborhood in queens (B market), I have come across one or two properties with "For Sale" signs that I see as potential buys. They are being sold through real estate agents so I am getting ready to call but would like suggestions on how I should go about those conversations. What exactly should I ask with my initial call? What should I be looking for to get the best deal possible? Should I find a more experienced partner to help with the transactions? My plan is to use a hard money lender. Does that effect anything with properties that have for sale signs?

Just some questions that I would love if someone could guide me through so that I know I am doing things the correct way. Again as mentioned before, if partnering with an experienced investor sounds like the better option please do not be afraid to contact me!