All Forum Posts by: Kedian Jimenez

you are just going for hold strategies at the moment? I would say for you to build some capital up. Whole selling, rehabbing. However there are definitely other ways. You also have an advantage like  receiving assistance.... use it. There's a reason GOVT gives financial incentives to investors. we are solving the problem they have a hard time doing on their own, and thats providing new housing and raising the value of the area. 

nother option would be Hard money. It would be more expensive but its an option. If you find really good deals 40-50 cents on the dollar then its a great way to purchase homes when all other options have been exhausted. Maybe even looking  for partners to finance and you do all the work.

you can always sandwich a lease to buy option and or actually do subletting. all those require relatively little investment on your part and can provide a decent income starting out. Thats how I became rent free in NYC.

I'm fairly new to BP and I'm here to soak up as much knowledge as I can to help further my real estate business. I'm looking for business partners/JV, finance partners, mentors, and hey even plain old friends. Pretty much anything that helps the fairly new investor with a lot of hustle :-D . I come from a traditional Latino household that came to the US to give their baby boy something bigger. Out of college now for 4 years and working as a software developer in an investment bank. I'm here to break the poverty cycle and create generational wealth with the big B and venture into the philanthropic means while having fun doing it and bringing up others with me. One step at a time, from part time to full time. I have some whole selling experience under my belt but when do you guys think is the right time to start flips or holds in NYC/NJ? Any advice/tips on the market would be awesome.

@Ryan Lee @Cazemba Richards go for it!! watch it happen. NYC is prime time.

@Michael G. I can gladly reffer the ones i've done it with in NJ but ill ask the ones in NY. or put you together with one. it possibly could be that the NYC one is different due to local laws. but again we can find out. 

I've literally ahd attorneys tell me BS before like you cant do AOC and i did one days later.... could be they dont want to bother, could be they genuinely dont know and have never done it. By default all contracts are assignable. its only if they specify against it that its a problem.

Lets get in touch i'd like to see if I can help you out with that

@Cazemba Richards in NYC you have to move quick. take it as a lesson. Now you'll be more on your toes for the next one. 

@Michael G.ive put some under contract but haven't had a DC close as of yet since it was a fall out. the contracts were sound though. Just like there are good attorneys there are bad ones. just like there are inexperienced ones, there are experienced ones. Sounds like you had an inexperienced one or maybe something else all together. Either way I bet a good attorney referral will get you what you want. honestlly all they have to do is make sure both contracts are good and that its structures in your favor. Banks will usually try and hit you with a few restrictions like you must hold the property for a certain amount of days or no closing. thats fine because Everything is up to negotiation. Just be aware that banks can be really stubborn or really maliable if you know the right angle.

@Account Closed sounds good ill PM you right away!

There's man ways to wholesale that. You can do what Anderson Minaya mentioned or you can double close as well which means purchase contract on this side and another purchase contract on the other end to your buyers. It's up to you how close you have to close each but I recommend the your buyers side gets closed within 2 days after your close and make sure that there's clause that ensures that the money is in a few days before in holding so you know that it will find the first. Now speak to an attorney to make sure how to structure that. If you don't have the funds you can use a hard money or transactional lender and just take the costs into account in the deal. So make sure there is enough in it to cover the loan expense, the closing cost, and your fee.

I've come across some properties at a great discount 40-60¢ on the dollar. But some are also with some local gangs close by. Not a major wars zones but I was wondering what strategy to pull off here or if I should just leave it all together. There ARE places renting out in the area so there is some money to be made but is it worth it?

I've had good success building connections and finding deals in the real estate market in NJ right across the Hudson from NY. However I've been getting so good deals on the NYC end but I'm not as concentrated there. I recently came across some investors who just want to buy huge properties and lay down hundreds of millions in the NYC area. So as 95% of my business is wholesaling I'm really thinking of duo king down on NYC but it might mean losing some focus on the NJ area that I've become accustomed to. What would be your best advice. Follow the buyer and start a new camp fire elsewhere, or focus in like a magnifying glass on the area you've already started a fire in burn in even larger?

@David Schwartz awesome. Yea id love to show you what I have and what i want to move on. ill pm you

Hey I'm 26 years old and instead of doing the normal thing guys in their 20s do which is to just chase P**** and parties, I'm setting my future and worrying about that later ;-P .

Long story short, I got into the real estate investing about 9 months ago and I've been doing whole selling. I took on RE education through Nudge, which was introduced to me through the peaks potential community, and I have enjoyed the ride but it was a massive investment on my part. I figured it was worth it to have someone streamline everything for you and have a mentor be right next to you along the way. I've enjoyed that part and still have a way to go.

Unfortunately I'm still trying to pull through with student loans and some debt I have accumulated. I've been coming across multiple deals that I want myself and I have been thinking very heavily on doing a first flip myself (and later buy and hold). I was in search for private/hard money lenders and I came across another RE company called Co Go Capital and apparently they offer 100% funding and also provide some mentorship. I wanted to know whats your feedback wither the investment they ask for is worth it or if there is a better way.