All Forum Posts by: Ronny Tiburcio

Hey @Hardeep Singh depending on the area you are trying to purchase in will determine if you are getting a deal or not. With the duplex you mentioned, if you only have to pay a small portion then it kinda sounds like a good deal because if you decided to move out and rent out your current space, in theory you would cash flow but these are assumptions from my end because i dont know the numbers. Good luck!!!! 

Go in with the mindset that you are never going to know everything about Real Estate. With that being said, read books, listen to podcasts, attend a couple of REI meetings and network your way into some kind of mentor ship if possible.

Time is not a problem for me so I guess short sales will be a definite option. Have you ever done a short sale?

You can use websites like Zillow or realtor initially even though the numbers arent accurate to the t until you are serious about purchasing a home. But if you are really looking for houses to flip, you should definitely be looking for agents. It should not be a problem for them to just create an automatic system where you will get emails from them with potential houses that meet your criteria. 

P.S. make sure they don't make you sign on a contract in which you agree to only work with them.

Wow, @Kyle Mack that is awesome!!! i would love to have a deal like that here in New York. I am going to continue to search and hearing stories like that keep me motivated. Thanks.

I would invest in the stock market. You can download the robinhood app which doesn't charge per transaction and since you are just trying to invest your money instead of keeping it in your savings you can just invest in some safe slow growing stocks. It beats keeping your money in a savings account. 

No one can really answer that. I would go to what ever institution you want get the loc from and ask them what are their requirements to receive a 50k line of credit.

If you find a good deal you can probably find a hard money lender but they charge an arm and leg sometimes. You can also go to local banks where they provide in house loans or portfolio loans. If you know anyone who would be willing to co-sign for you, that can also be a great help as well. Basically, just figure out every financing option you have so you can figure out what best works for you.

Hey guys, so the first step i plan to take in my real estate career is house hacking. I am looking for multi-families in Brooklyn, New York. It seems the market is over priced and the only thing i see are short sales. I would be a first time investor so i dont know if trying to get into a short sale but it seems like that's the only way to get a deal. I am constantly using the BP rental calculator and i am no where near potentially making some kind of profit. I originally wanted to look for a multifamily in New Jersey because it seems more investor friendly but because me and my partner both have city government jobs in NYC, we are mandated to live here. Should i be looking in short sales and are there any ways to take advantage of them?

That makes way more sense. But I just want to be sure I understand what you just said. Instead of trying to figure out if I can afford the mortgage my self, I should be figuring out if the house I want has a good rental demand based on a realistic amount expected on the rent I will charge. Because if purchase a home where the rent demand is high and the rent I charge is competitive, I should be able to rent with no issues. Is that the gist of it?