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All Forum Posts by: Jonathan Reizovic

Jonathan Reizovic has started 5 posts and replied 18 times.

Post: Rehabbing in any market or conditions

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2
Originally posted by "TheRichZone":
The 3 rules to successful flipping in any market.

1. Buy properties at 40 cents on the ARV dollar. Never, never forget – you make your profit when you buy right NOT when you sell.
2. You must have dependable and skilled birddogs, lenders, interior designers, budget/site managers, contractors, realtors etc…
3. And most important, read everything you can get your hands on. Distressed RE, probate, divorce, foreclosure, gov seizure. Rehab Financing. Interior Design. Construction and how to run a job. Budget Planning etc...

From what I've been readin on here you want to buy at 70% ARV minus Repairs. Isn't 40 cents on a dollar 40% ARV and asking a little too much?

Post: How did you start?

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2
Originally posted by "WABO":
Then I learned how to buy with contracts only and flip.

I am a newbie and assuming buying with just a contract and flipping is called wholesaling. How do you buy with just an contract/how much is it?
Thank you,
Jonathan

Post: Contracts and contingencies??

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2

What are the average closing costs? Whether a percentage of the sale price or just a flat fee?
Thanks again,
Jonathan

Post: Contracts and contingencies??

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2
Originally posted by "dal1":
Also, this contract places the payment of termite and heating and air letters at the buyer's feet even though it's always been written that the seller will pay (buyer's selects company) in our state.

Is this a regular contract, and the contingency would be that the seller pays? Again I don't no anything about contracts or contingencies.
Thanks again,
Jonathan

Post: Contractors in New York???

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2

Hi,
I am interested in getting into rehabs, but I feel like now is not a good time. Do contractors do a lot of work in the winter or is it too cold. I do not want to get into a rehab that should take a month or 2 to fix, but beacause of weather conditions have it take 3+ months.
Thanks for the info,
Jonathan

Post: Contracts and contingencies??

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2

Hi,
I am a newbie here. I am reading in a lot of these post to include contingencies in ur contracts so if the deal doesnt go through you are not liable. I would like some info on these contracts and contingencies because i haven't a clue about them. examples would be helpful. also would it be in my best interest to talk to a real estate attorney to learn about these and if so would i have to pay him/her for their time?
Thanks,
Jonathan

Post: Looking for a REI Club in Albany, NY...

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2

hey
im looking for a REI club in albany, ny. I am from long island but attending school in albany. any info would be greatly appreciated.
thanks in advance,
jonathan

Post: 1st rehab project

Jonathan ReizovicPosted
  • Centereach, NY
  • Posts 18
  • Votes 2

I'm a newbee just learning, but out of curiosity how did u find this property? Foreclosure, FSBO, Pre-foreclosure?
Thanks