All Forum Posts by: Matt B.

Cynthia Walker what is it that is keeping your score so low, your debt doesn’t seem to be too high compared to your income, are there late payments, etc.? Have you asked the lender what other steps you need to take to help raise the score, generally they can give you some specific actions that will help move the needle more quickly.

Looking for advice on subdividing a property in Suffolk county (specifically Brookhaven) NY. House is one property on a large lot but I wanted to look into splitting the lot in two and having two separate new builds... the house that’s currently there is basically a tear down but I wouldn’t even know where to start to do something like this and wanted to hear from anyone who has done it

I am in NY and have been analyzing a ton of properties as well with the same problem, too expensive, taxes too high, etc. I have been trying to expand my search area to surrounding states but also to looking at areas for long distance (Midwest, southeast) it’s a tough tine to buy but someone is doing it so it’s about adjusting to find a deal and make it work or looking to other marketing methods like Skylar Simpson mentioned.

Daniel Vasilyuk you sound pretty well off and ready to start... take the first step and call some realtors to put in offers that work for you. Don’t get stuck with “analysis-paralysis” because you are too smart and too well equipped (based on your posts) to get trapped by not buying something. If you’ve listened to that many podcasts you know the steps, just put them into practice, at your pace, and be successful.

I know you’ve discussed partnering with your father, had I been more forward thinking when I was younger I would have househacked but at that age I had no money or thought I couldn’t do it. Fast forward to now and while I couldn’t (or wouldn’t) house hack with my current family situation, I would definitely be open to a younger, aggressive partner who would do the house hack part on some sort of multi family and take some responsibility (maintenance, rehab, pay some rental portion, whatever made sense) but utilize funds I have to get started for a split of the profit. Just an idea to ask around to anyone who is looking for ways to invest and find ways you can be an asset to them. Good luck, you sound like your in a great place to keep pushing to get it done...

I’ve used Larry David in Patchogue for 2 closings, really reasonable and knows what he is doing.  Both were personal residences so I’m not sure about the business structure setup but he does a lot of RE...  if he can’t do it he can point you in the right direction to speak with someone who can.  

Best of luck, are you looking to invest in Islip? I’m still in the beginning stages as well but always looking to meet up with local investors to see what they’re doing... feel free to reach out

Devin Duinkerk Good luck on starting out! BP is the place to be for RE education if you really want to learn as much as possible...

I would lean towards agreeing with Colleen McCann however, as your first potential deal I would go through all the motions to figure it out. 1.) go to the BP calculators and get an idea of what the numbers would be based on your “estimates” then see if you can get a contractor or two to walk through it with you and get their estimate and see if you are close or way off then go from there. 2.) if it’s a deal you can make work, go for it, if the numbers don’t make sense try again with the same thought process. There was a great podcast a few episodes ago about “vacuuming the truck” (episode 276, I think) which basically means if you don’t know something take it one minor step at a time as you figure it out and then go on to the next minor step until you’ve figured out the whole deal. A 10k house in a “not so great” area is probably not going to be a great deal, let alone a first deal but go through the motions and see what you can learn from it... just be smart and talk to as many people as you can, there are a lot of shady people but also a lot of good people to that want to help you learn... good luck, stick with BP and you’ll learn a lot and have a ton of great resources.

I would have bought a house while living in college with roommates and had them pay my mortgage... I was told to do it but I never thought I had the money for it, little did I know... also I would have house hacked before buying a SFH...

Jason Carter are you putting together the out of state flips on your own? Do you have a team you’ve put together? Any states or areas in particular?