All Forum Posts by: Jonathan Quesadilla

@Ben Einspahr

Thank you for your response. I completely agree with being avatar 1. The more houses someone has, the more cashflow they can produce and experience they gain. Appreciation is just the cherry on top but that is another factor that is nice as a result. I am interested in reading more about your case study and wonder how i can go about that!!

@Corby Goade Thank you for your response. I do appreciate your words of encouragement and input. I am eager to start in the game!!

@Trevor Schmitt, @Jacob St. Martin

Thank you for your response. I deeply appreciate it. The reason for refinancing after a year is due to the fact that one can only utilize an FHA loan once and by refinancing, I can continue to use that loan with little down. The objective is to cut down on expenses as little as possible even tho I will not have cash flow. I am currently in Long Isalnd, ny, and am aware of the tenant laws here but would prefer to start locally. After obtaining 3 or so properties over the years, i would love to 1031 the properties for a bigger multi family that will cash flow.

Hello fellow bp members,

I am currently eager to get my foot in the real estate game and working hard to learn, earn money, and get the ball rolling to house hack. I am eager to start house hacking but I do not have 20% to put down for a down payment. I know that putting more down means a lower mortgage, no pmi, and leaves big margins to cash flow on the house. I don't want to wait 5 years or so to save up 20% down but rather put 3-5% down to get experience and possibly cash flow when I do get my property. What is the best course of action here, 20% down or 3-5 % down. I am aware of additional payments for an FHA such as MIP, but i am completely fine with that. I would want to live there for a year, refi, then buy another property thereafter. Thoughts? Suggestions? Thanks BP community!

-Jonathan 

Question here,

When trying to wholesale a house on the MLS, what should i do when the sellers agent asks for proof of funds? Would it be wrong if I didn't tell the agent I am wholesaling the house to a flipper? How can i go about this in LI ny.

the rehad costs are not accurate and just assumed $30 per square feet and rounded up. Same goes for the holding costs. I will update these figures if I can get an inspection on the home to get accurate numbers or from the real estate agent. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Can anyone give me some thoughts on this? Never wholesaled myself personally but the comps show that the lowest price house sold in this area in the past 30 days is 500k.  

Hello, 

I am seeking if there is anyone in long island NY who i can partner with or shadow to learn the wholesaling process. I am eager to learn and do not want to start on my own. Thanks!

Anyone wholesale in Long Island Ny? I want to learn from an expert and shadow someone. 

Hello all,

I am seeking advise and help on how to find someone i can partner with on a deal in Hartford Connecticut!! i am a newbie investor looking to start my journey!