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All Forum Posts by: Jonathan Chin

Jonathan Chin has started 3 posts and replied 4 times.

Post: 24 year old starting out

Jonathan ChinPosted
  • Queens, NY
  • Posts 4
  • Votes 2
Originally posted by @Matt A.:

Jonathan - Tink Wig is such a long drive from NYC (too far if you ask me.... wink-wink). If those lots are waterfront we should talk... my wife would give our first-born for waterfront at this point. In seriousness, that looks like the Poconos area, and personally Im not in a hurry to move there myself. (Im outside Allentown - from you a straight shot out I78 to Dorney Park... Im 8 minutes west of that). YOur lots would still be a considerable drive from me. I would take a close look at the marketability up there however - Ive got friends that live up that way and while somewhat inexpensive in many ways, they are paying for it in others (a discussion Id rather take off-line).

Absolutely approach your uncle, he may have many lessons to share, and quite possibly be the best source for you as well. Id corroborate that with what the community is telling you till you get some deals under your belt as well. You never can quit learning. That said, focus on passing the NCLEX first, then venture into this field... school isnt cheap and you cant afford to miss a year in that program (my daughter is in the Nurse Honors program at DeSales... Real Estate is also paying for that program, well sort-of... I need to buy more). If something falls into your lap during school your uncle might also understand your ambitions and be your lender as well. Guess what Im saying is get the education finished first, then you can spend your free time finding deals. I know how addicting it is analyzing everything that crosses my screen - Im teaching my wife how to look quicker at the MLS crap as I really don't have cycles to go through EVERY one that she sees (and most on the MLS are turds anyway). When a deal hits you've got to move fast, and all the little things WILL suck your time.

Where are you planning to acquire assets? Are you staying in Queens (might be expensive) or looking out towards NY / PA areas? Id suggest getting comfortable with a market before finding a deal - know how that's reacting otherwise you may get whipsawed by not seeing the larger picture. Congratulations on getting involved as well. Lastly, there are some fantastic hospital networks out this way in the Lehigh Valley (if your looking for a decent area to grow in both your careers)

 @matt avila

Thank you for your input. Your advice along with everyone else makes a great deal of sense and I will be following that route.

I plan at first, acquiring assets in the NYC / NJ area. Towns such as Little Ferry, NJ caught my eye. I wanted to first do a wholesale deal to get my feet wet, not so much for the money but for the experience and maybe even create a relationship with an investor if all goes well. I do not know if the property in Tink-Wig is waterfront, my father mentioned a lake but it could be that it's a short walk and not exactly on the Lake. I can certainly let you know when I go up there to see what it is like. You can reach me at my personal email, or here on BP. Again, thank you for your advice, it's made my vision much more clear

Post: Local Meetup Queens New York

Jonathan ChinPosted
  • Queens, NY
  • Posts 4
  • Votes 2

Anyone know of any local real estate meetups around the Queens, New York area? Looking into wholesaling to get my feet wet in Real Estate, and I believe this a good way of doing so. I'm interested in meeting other wholesalers, house flipping specialist, and investors. Or if anyone is from this area and is looking for some free help in assisting with their deals, such as delivering mail to the post office or maybe even grab a coffee for you while you focus on important tasks, I'm available Monday and Fridays for a few hours. 

Post: 24 year old starting out

Jonathan ChinPosted
  • Queens, NY
  • Posts 4
  • Votes 2

Greetings BP Community!

I am freshly new to BP, and the Real Estate World of Investing. I always had an interest in real estate going into my young adult life. This past year, my interest peeked after reading the book Rich Dad Poor Dad, and listening to the BP podcasts. My Uncle in-law is quite the investor in Real Estate investments, especially in New York City as far as I know. I haven't discussed my ambitions yet with him, but one of my objectives is to speak with and learn from his experiences. I'm not too sure how to go about asking him though. Anyway, as I'm still building my foundation before I jump into my first deal, I'm still unsure of how to begin.

My main focus is to acquire income generating properties. By the time I'm 26 I plan to at least make my first deal, sooner the better, but I have a few priorities to take care of. First I am in school for Nursing. I'm trying to obtain my degree as something to fall back on and also I see it as a unique skillset to have even though it has nothing to do with Real Estate. I've been working at a hospital since I was 19 years old, and that's what introduced me to the field of Nursing. Also I feel like people would take me more seriously if I had a professional degree under my name.

Now I thought of starting my Real Estate career, or at least my first few deals, through house flipping. My parents own two lots of land in Pennsylvania (1.5 and 1.0 acres) in a residential community called Tink Wig. They planned on building homes on it when they first bought them way back in the 70s/80s, but because they had to raise a family they never got around to it. They've asked my two older siblings and I to do something with it so it does not go to waste. However as far as I know, they don't have any ideas on what to do nor flirted with any, so ultimately it falls on me. Ideally I would like to turn one of them into a summer retreat for our own personal use (once I'm well off in life and I can afford to build something on one of them), and use the other lot as an investment vehicle. How would I go about this? Well I would invest the other lot by selling the land raw, and using the proceeds from that to invest into another deal... or build something on it and sell/rent.. but I don't think there would be much money to made from that. I would have to consult with contractors in that area. Maybe some of you BP members can provide some insight on what would be the better choice?

There's a great deal to learn about this business, and the most efficient learning will come from actually doing. I'm working my way up towards that. Are there any books you have read that has made an impact on your Real Estate careers you would suggest for me to read? Thanks in advance to everyone contributing. This is such a great community, and I'm grateful to be apart of it.

Post: New member of BP from New York City

Jonathan ChinPosted
  • Queens, NY
  • Posts 4
  • Votes 2

Greetings BP! First off I'd like to say I'm excited to be apart of such a rich learning community focused on real estate. I've recently been tuning into BP's podcast, and it's what brought me here in the first place.  A little bit about myself. I'm 24 years old. I work at a local hospital, been there for 5 years now, and currently in school for Nursing. I believe I've always had a passion for Real Estate Investing, but never fully brought it into view until recently. I joined the bigger pockets community to help strengthen my foundation in real estate, to seek advice from community members if I find myself in a rut along the way, and to meet like minded people with similar goals.