All Forum Posts by: Rana Zaheer

@John Heeney

Some nice properties coming in Albany soon.

@Kathy Li

Following

@Lux Bai

Get into Fix n Flip business, buy cheap repair and then sell, no restriction on buying cheap properties with the type of money you have.

Spending 100 k again on studies just give you satisfaction that's it, I know as I come from Asian back ground too, real estate will teach you more than degrees(my opinion) you might differ.

I think wait untill you get the Card, and then take decision whether to stay here permanently or flying east.

Scenario

House 1= primary residence

remaining mortgage around 270k

House value =700000

Monthly mortgage:2000

House 2= investment property

Sitting vacant from last 2 yrs.

Buying price:450,000

Remaining mortgage :330,000

Monthly payment of mortgage:2100

Just fixed and ready to sell

Home value=600,000

Currently have around 100k Cash in Hand.

A flip credit line of 500k is open and in [email protected]%.

Considering Applying Heloc on primary house

For around 200k.(if applied will get, 750 credit score)

Thinking to buy multifamily in Newyork city.

For Gurus:How to play the Game keep in mind if applied for tradational mortgage, bank said you don't earn enough to have mortgage. So kinda must be more than one unit which can sustain itself.

Any geneius thoughts?

@Bruce Lynn

Brooklyn, Queens, Manhattan?

Great Advice and big eye opener for me at least😅

@Randi Plevy

thanks Randi for valuable advice, appreciate that

@Wayne Brooks

Thanks Wayne, I will do that or probably will sell to some investor who want to put it on rent, and collect 3 rents from the house and fully converted basement . Easily pocket around 5500 per month.

@Wayne Brooks

Thanks Wayne it gives pretty good insight, it was a single family home but the previous people converted it into 2 family home because it was quite big could have easily be converted into 2 family legally but somehow they did not chose to and we bought it on auction, county court auction. But were so busy and did not do anything with it, although price was increased in that area but didn't have time to deal with it. Now thinking to sell it and was wondering, how should we do it.

@Randi Plevy

Thanks Randi...what if it was purchased from Govt auction, do you think we can go back after 2 years and ask them the credit/pay back the violations which we were not responsible, and we will be entertained? After 2 yrs.