All Forum Posts by: Jolene P. Neal

Originally posted by @Caleb Heimsoth:

@Account Closed I just find it simpler to do single family to start.  You have less turnover and typically attract slightly more quality tenants.  

I’m also only in my early 20s, so I’ve got lots of time.  When I jump to commercial in my mid to late 20s I’m going to jump in with an 8-16 unit building 

Oh my goodness.... what I wouldn't give to be in my 20s again with your mindset. I love it. Congrats to you and massive future fortune!

@Rose Torio... I just wanted to say how brave you are for putting all of this out here in the BP space. Thank you so much for posting this. I bought a Rich Dad training package in 2016 and I wish I knew about BP before making that decision. Now here it is two years later and still looking to do my first deal. That $700 monthly loan payment for the RD isn't going to go away and I feel so stuck and cash poor. Analysis paralysis is definitely where I am at the moment. They keep telling me to just go out and do a deal. These trainers aren't familiar with NYC and have no clue what our market is like here. I'm also considering out of state investing at this point. I need to get my first deal under my belt and done right so I too can rinse and repeat. Again I thank you for your post. Truly gives me some renewed hope. 👍🏾😀

@Account Closed Sounds like out of state might be my best move to prevent further frustration lol

@Andrew C. To be honest, I think having rentals in NYC is super risky only because of NY's policy on tenants rights. My investor friend is currently going through two eviction processes; one in Canarsie, which is a section 8 tenant and the other in Mill Basin. Both neighborhoods are considered decent areas. However, the courts decide how long a person can stay without having to pay rent. Hope that helps also.

@Gregory Flores, Jr. I'm realizing that now about the MLS. Thank you for that. I will look into getting foreclosure listings. Would it make sense to also look for probate listings? I know they are usually in the same section of the courthouse.

@Llewelyn A. Totally love your analogy on bargains. You're absolutely right. However you were still able to make bigger moves because of your $140k purchase no? 

@Elliot Vann thank you. I was actually thinking NJ would be a better fit to wet my feet. My fellow investment buddy just keeps on telling me that their are diamonds in my own backyard. And on the other hand my mentor says the longer you take to do a deal the higher the chances of you never doing one. I'm not looking for perfection but I do want to get the ball rolling. NYC right now though isn't looking like the place for a smaller investor like me to start.

Hi everyone, I noticed that there are hardly any success stories being posted by investors in NY. Primarily around the five boroughs. I have been digging through the MLS hoping to find a diamond in the rough according to my training but the listings are hardly updated. The good ones have already been sold or in contact weeks after they appear available on the MLS. Are there any fellow BPers who have had any luck in this super saturated market? And if so, please share how you are making your deals. I would greatly appreciate it and would love to make my first deal after 2 years of training. I'm ready to take more massive action.

Thank you so much for posting this. I'm in Brooklyn and having a hard time finding good deals. The ones that seem too good to be true are already gone before I get a hold of the realtor. NY's MLS is kinda shady as are some of the people who have claimed to be agents.

Ahhhhh I see. Very smart. See in Brooklyn exposed brick is seen as a luxury item. But I totally get it.