All Forum Posts by: Maurice W. Evans

@Maurice Evans I always say to new buyers never to rush their first deal. If you mess up on the first deal it can take you longer to buy the second one. Really take your time to make sure all the numbers are right and that the strategy is right for you. Including your exit strategy! 

mostly 2s & 3s, not sure about the FHA, probably.

Bronx is probably your best bet. Lowest starting price-point. Stay close to the subways. Westchester Square area (in the Bronx)  is probably a good bet, but many other areas as well. 

Shorehaven in the south Bronx has the ferry, worth considering.

Morris Heightsw has Metro North RR, also a good spot. 

BTW I'm a Broker and just looked at some of the 2-4 family properties in these areas, they're mostly over $800k. Unbeleivable, but still cheaper than Brooklyn and Queens. Good luck, let me know if you have any specific questions. 

Make sure you learn to underwrite-books and podcasts. Forget the software until you know how. 
Find an rei or landlord group and network. Don’t buy anything till you know the difference between a deal and a dog!

 all real estate is location based. Never forget that.

Location. Location. Location.  Got it :)

@Maurice Evans

Talk with the local lenders bc they will let you know what the lending criteria looks like and you can even give the details of what your looking at to see what they would be able to do for you. I’m Chicago there’s a lender called CIC that helps landlords in rougher area to get loans including fix and hold loans, offering great handholding. Several good conversations had with the lending officer about potential deals. He gave me insight into how to model and their expectations to get me in and up and running. Check local, look for lenders that help these communities. They may have a program that not only gets you the loan but can even help you get some grant money too.