All Forum Posts by: Mark Fischer

I'm interested in learning about wholesaling as a way to learn the general ropes of real estate transactions and as a way to build capital for buy and hold investments. I live in Rochester, NY and was wondering if there is anyone out there who does wholesaling that I could shadow/learn from? I can read and read and read, but I'm a hands-on learner and would really appreciate the learning experience. Thanks!

$5 a pack?! We haven't seen a $5 pack of cigarettes in New York in years. I think the prices range between $9 and $15 depending on where you live. If you really want your husband to quit, you should have him spend 3 months in NYC. Comrade Bloomberg's policies are still in effect and your husband will quit fast when he's spending $45 a day to support his habit. All kidding aside, I hope that you are able to have a conversation with him about quitting and how important he is to his family. Best of luck!

Welcome to the site Donald Hruska . If you are interested in multi-family units, a great book to take a look at is "Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth" by Larry B. Loftis. You can find it on Amazon for quite cheap. Some of his forecasts for the RE market are kind of funny as he wrote the book right before the housing bubble burst, but the general ideas are excellent and he writes at a very accessible level. Enjoy BiggerPockets!

Teresa Keith I'm glad you cleared that up! Your original post made it sound like you were going at this alone and had just purchased a really rundown property that needed a lot of work. I have to admit I had some alarm bells ringing as I read. Very different scenario now. Enjoy your learning experience!

Hi Teresa, I'm new at this. Here are some questions that came up for me as I was reading your post: 1. Have you already purchased this property? 2. What is your total estimated cost of rehabbing? 3. What kind of rent do you expect from the house? 4. Was the purchasing price low enough to make up for what sounds like pretty extensive (and usually expensive) renovations? 5. Are you holding this property or planning to sell it off after the rehab is finished? 6. You mentioned that the property is located in a lower income neighborhood and has been vandalized before. Are you taking any precautions to secure your investment while your rehabbing takes place? I would hate to see you put in brand new copper piping and have it all stolen overnight. I hope this is a very successful venture for you. I can't answer the permit question, but I'll be interested to hear what other say about it.

Welcome to BP, @John Lopes. I just started here at BP myself. Glad to see you're ready to get back in the saddle. I'm sure there are lots of people out there who wouldn't have the guts. The forums are great and the people are friendly! Best of luck!

@Frank Oudheusden Thanks, Frank. I'm sure we'll be talking soon.

@Brandon Turner Thanks for the welcome. The site is great!

@Dave Savage I checked out the FFREIA meeting tonight. Good stuff. Thanks for the suggestion.

@Mark Scarola Strange coincidence! Thanks so much for the well-wishes. I was thinking the same thing about our skills as therapists transferring well to working with people in this type of business environment.

Thanks for the article, Ali. I'll take a look at it.

@Mark Updegraff I'm all for meeting new folks. Let's chat at the meeting and see if some beers might hit the spot. Looking forward to it!

PS. I'd be happy to hear from anyone who has experience with managing their own buy and hold rental properties. I'm wondering especially about the legal structure that should be set up when acting as a landlord. LLC is what I'm guessing, but I'd love to hear from anyone who has gone through that process.