All Forum Posts by: Qasiym Glover

Sorry yes I meant buyer, Since I'm just starting would you recommend rehab or wholesale?

Financing, are there any lenders that do 100% financing? Should i go for financing that will cover all cost (rent, utilities, etc...) for two-three months or can I only be financed for the cost of Reno?

Ok, since the property is abandoned what are effective ways to getting in contact with the owner? Should I have a seller lined up for the purchase or just have a real estate agent market the property once done?

@Will Barnard How do I find the accurate market value of the property? county records say $367k, but zillow says $132k. Also whats the best way to find comps sold in the area?

Ok, my friend is a real estate agent is going to pull the comps for me today. So if the comps are lets say 350k. Using the formula above I would take

350x .7= 245-100 (reno just using numbers) = $145k which is the max I can offer for this property correct? if I sold the property my profit would be 350-245= 105k correct?

@Will Barnard How do I find the accurate market value of the property? county records say $367k, but zillow says $132k. Also whats the best way to find comps sold in the area?

I'm new to the industry and I want to be taught how to do it right. I live in a nice area in Queens, NY, there are a couple distressed/abandoned properties in my area. There's one in particular that I'm talking about, it's not for sale, but it's been abandoned for years, market value of $367,000, three houses next to it are valued at $633,$649,$613. I looked at the county records, if I'm reading it right there is a scheduled drop in the value of $55k. I personally can't say how much will be needed for reno's for sure but from the outside looking in I would say at least $100k.

Is there a potential play on this property? If so will anyone be willing to do JV with me on this? What's the next step?

• • Single Family Residential
  • Built In 1920
  • 1 Unit
• • 1,179 sqft
  • Stories: 2 story
  • 1 Building
• • Lot Size: 4,125 sqft
  • Parking: Garage
  • County: Queens

Have you had any luck with craigslist, Redfin, loopnet, zillow, myhousedeals.com?

@Jon Thanks for the welcome, do you have any tips for marketing to find motivated sellers and buyers? Any sites to go on to find deals?

Hi all,

I'm new to the real estate investing world, I was referred to this site and I must say this site is stocked with great knowledge. I'm looking to develop a relationship with an experience investor here in NYC. I would like to do JV, so I can learn but also so you can benefit. My goal is to build a relationship that can hopefully organically grow into a partnership.