All Forum Posts by: Nicole Wood

Hello all,

I'm thinking of getting my real estate license here in new york state (not NYC) and am wondering if anyone has any suggestions for online schools? I'm looking at realestateu but they seem kind of cheap. they are approved by NYS or so they say but other courses are around 495$ while theirs is only 99$. Any suggestions that are in the middle of the two or reviews on realestate u??

hello all. I bought my first property back in July at a tax auction for 5685$ . as ezxpected its very run down. The town has it assessed at 60000 which I thought was great. So I tried to get a home equity loan....that didn't work out so well. It was assessed at 16800 :(. So luckily I had a friend looking for a two bedroom house so she's renting it and I waved their deposit so they even cleaned the entire house out of all the junk left behind by the lady I had to evict. I'm wondering where to go from here. Continue to hold and slowly fix up or fix up a little and sell at just over a year for more than I paid.....my accountant suggests the latter but not sure.

hello all, this is my first year as an investor and doing my taxes got a bit confusing. I guess I could go to a professional but figured i would ask here first...I got an ODP loan out to purchase the property. I purchased it in august. I now have 10,000 out for the loan the home cost 5685 how would I got about calculating the interest 13% apr on the 5685 for the five months I paid it? This should be deductible. Also, there is an area you have to put the land value in seperate from how much you paid for the home...problem is i got the home at a tax auction so the land value and home value are different that what i paid...any advice or insight?

So..back in July I bought a home at a tax auction. I subsequently gave 10/30 day notices and her last day was the 17th so monday...she said she would be out via phone two weeks ago but i played it safe. Of course she left a mess and a nasty note for us...question is...do i have to hold her stuff for any amount of time? She left ALOT behind...also she left mail all over opened and upopened...the opened stuff...can i throw it out? the unopened can I leave it at the post office or with a family member??

will do once i get in the home. got it for 5,500!!

its not an established campground. it is an old girl scout camp. there is only one other campground in that town and only 2 state parks in a 60 or so mile radius. the other camp site in the area is accross town (15 miles) and has a waiting list for seasonal sites so the amount of people are there....most the campers i see around here have electric hookups but 25$ is still good compared to one camp site which is 32$ a night and Its not even in the woods!!! alot of tent campers want the water and electric from what ive seen at other sites and also there are a lot of seasonal campers in both the sites that are in the surrounding towns. there is one site that has neither and only porta potty bathrooms for free but its a first come first serve with 7 sites near a lake.

I know this is a far fetched dream probably but just going to throw the idea out here and see what everyone thinks....I have no where near done enough research but also know I'm not trying to offer anything tomorrow either....There is a campground for sale near me for 795,000 this includes 350 acres five already established a frames, 3 cabins, a shower house, 2 wells on property, 3-4 program buildings, pavillions, a 10,000 square foot horse arena, a stable barn, two ponds, farmland, and a farm house and a house built in 2003 along with a large 4000 sq foot "community building." trails are made through the woods for vehicle/atvs as well. electric and gas is readily availabe and already in three of the buildings along with sewer. So....hear me out....the price most likely would be able to be haggled down a bit since its been on the market more than a year. There is room fro AT LEAST 100 campsites this being just counting rv and tent sites.....set the price at 25/night (lower than any other ground in the area). with of the sites being full at any given time....that would make you 224,000 in four months of summer. not counting any cabins (the 5 a frames already there) and any other cabins you decide to add and if theres is room for more campsites and also weekends like memorial day or fourth of july. add the farm house that could be rented out. add that i would live on the property in the brand new house. add the community building that could be rented out for events. add a camp store if you wish.

Good investment opportunity (again if the bank would even dream of approving and I got the 80,000 or so down payment if not more since its an investment) or not???

I bought my first home at tax auction in july and after waiting for deed finally gave a ten day notice (this person was considered a squatter in my state) On Sept 7th and a 30 day (at the advice of an attorney) on Sept 17th when we served her the 30 day eviction she stated she found a place and will be out in a few weeks....i have never been inside the home so I am VERY nervous...after running numbers and realizing how much of a tax DISADVANTAGE flipping is I decided to start out buy and holding (renting it out). Figured out the area norm and put the rent at where I needed it to be to make the bill sthe property will put out. I am planning to take out an equity loan to fix it up just to be livable nothing fancy (the area isnt a granite countertop stainless steel type of place), Very excited and nervous and hoping all goes well. 

Thank you to this site who got me started with this all and made me know that it WAS POSSIBLE!! hopefully soon im on my way to only working per diem (after I have a few more rentals going obviously)

So about a month ago I purchased a home at my local tax auction for 5500. I should be getting the deed any day now...at that point I will have to evict the homeowner. When I have the deed I can "take ownership of the property". I am hoping to get into the home and check it all out before starting the eviction process so that nothing gets destroyed. Anyone have experience with this? Also...the eviction process...this is literally my first property. 30-45 days I know....anything I should know that would help or from past good or bad experiences with this? I'm a little nervous since she is the one who owned the home before and defaulted on her taxes and has yet to move out...that tells me she is going to be a fighter. Am I allowed to enter the home when I own it if I give lets say 24 hour notice that Ill be inspecting it? 

full market value right now estimated by the county and websites is between 58-63,000

Thank you!

Today, I finally bought my first rental. I bought it at a tax auction...risky I know....5,500$:] very excited!! But cant get started until the deed is in my hand which takes a few weeks. The suspense will kill me! Thank you to this site for making me believe my dreams could become reality!!!