All Forum Posts by: Karen O.

Thank you.  It's great to hear of active NYC landlords who are also compassionate and taking care of our elderly.  Bravo, Sir.

Yes.

I staged a unit with quality used pieces.  Good for the listing photos.  Left if furnished for 3 months. Sold all the furniture for a 50% return.  And somehow I got the best offer when it was empty. Now, I wait for the closing.

Our banker at Merrill Lynch requires wire instructions be faxed, if not hand delivered.  Luckily we still had one. A fax machine, that is.

Scary times.

This is probably a question for your accountant.

@Adam Harper I attended a FB multi-day event in 2016. The room started off with over 400 people.  Was down to maybe 100 people by the end.  And most of those didn't sign up for the expensive FB training/mentorship which was quoted as either $40K or $50K... I can't remember.  I do recall that they were encouraging people to max out their credit cards to sign up for their program. So based on the #s alone, I suspect the # of success stories from those who attend FB events and ultimately find success with it are few.  I am glad that someone seems to have found sucess, though.  

You might also strongly consider wearing a mask and eye protection too.

Foundation issues.  Not very experienced  at flipping. 20k into house. If back taxes on lot are $20k or less, at $90k, you stand to clear $50k.  Profits increase for every dollar tax lien is below $20k.  

Take the offer and move on.

Do you have any $ toward the deal?  If so, might you attempt to get a PL from one of your OOS investors?

No experience and no money? Then I'd say the answer to your question is no. You can't get started in the way you mean. You say you want to partner with someone. What are your bringing to the deal? Good looks only go so far. However, you do have time. You can continue to educate yourself. Read. Listen to podcasts. Join an area REIA or two and go to events to meet others. Network. Get a job in the RE industry. There are lots of ways to get involved. Lots of sides to see. To explore. Sales. Construction. Development. Property Management. Specialized trades (plumbing, electrical, solar, drywall, painting, roofing/siding). Insurance. Finance. Analysis. Find an area of interest and seek out a job where you'll get paid to learn while you work. Then save. Live on as little as possible. Keep running numbers. Save some more for that first investment. Househack if you can. Learn. There will be hiccups along the way. But you can work through them. Continue to save. Prepare for surprises and down times. Vacancies. Bad tenants. Repairs. Emergencies. Prepare to second guess yourself and to lose sleep. It's a guarantee. Prepare for naysayers. One day you'll wake up and you'll be doing it or you'll be doing something else.

Good luck.