All Forum Posts by: Shanel Wiggins

@Tarl Yarber Great job. House looks amazing. 

May I ask how do you determine rehab cost as you said new investors overpay not knowing how to estimate rehab cost properly?

Welcome to BP Greg!

I live in Mount Vernon & I am looking to obtain my first property in Yonkers, NY (4 unit house) in 2016 in where I live in one unit and rent the rest. I am currently preparing to test for my NYS Real Estate Salesperson license and I am excited to start on this journey as an investor. 

@Mike Henkel Great story!!

How much was rehab and rental price?

I have been doing some reading on how to study a market for investing and after I read several articles I feel confident in knowing how to investigate a market but then 5 minutes later I feel lost and don't know where to start. I am currently studying for my NYS RE Sslesperson license and I'm seeking to invest in Yonkers, NY. 

I have looked at the "city-data" website for Yonkers, NY and I know that the population increased 9% since 2000 and the median income is in the $50,000 range. 

I also know that I should research comps in my prospective area. 

Can anyone give any advice as to what I should be doing to know my market inside and out. 

Btw- I live about 15 minutes drive from Yonkers, NY. 

 Thanks for that clarification. 

Ok same as ROI = Return on Investment?

@Joe Villeneuve what is COCR?

@Joe Villeneuve thanks!

@Joe Villeneuve not sure if you're familiar with the New York market, particularly lower Westchester but would you say that this strategy wouldn't be suitable for this market?

Thanks @Brent Coombs & @Joe Villeneuve

Those responses cleared up me not understanding.