All Forum Posts by: Sal Mazzone

Correction - "I haven't gotten to actually use it yet as my leases are not up but I* will certainly utilize them when the time comes. "

I second smartmove. I recently signed up for it and the platform is super easy to use. I haven't gotten to actually use it yet as my leases are not up but u will certainly utilize them when the time comes. They offer credit report and background checks for about $30 which can be paid by the applicant or you however you choose. I'll probably make them pay the fee then credit it toward the first month rent if they are accepted.

Welcome! 

I currently live in Westchester and some of the areas I've seen multifamilies for reasonable prices are Elmsford, Yonkers, and Peekskill. As I'm sure you know property taxes are  high in the area so make sure you run the numbers and if you plan on holding onto it once you leave, ensure that it still cash flows with a tenant in the unit you would be living in. Those areas I mentioned have slightly lower taxes since the school districts are not the greatest amongst the other surrounding areas. 

If you have any questions feel free to reach out.

Best of luck!

Welcome! The westchester market is very hot right now- I've seen a number of properties and before I even run the numbers they are in contract. Be aggressive but make sure the numbers make sense. Keep in mind a lot of older homes here in westchester with outdated plumbing and electrical work and plaster walls. Best of luck!

also, I agree with Roland about just wholesaling it. I would suggest having an attorney who can assist in structuring the contract. 

I'm just still a bit confused by what you said below. If you are buying the property from someone it's yours to own and rehab as you please then either flip or rent. If you are wholesaling you would be buying the property from the owner, then selling it to another buyer/investor for a spread.

"I would like to wholesale the deal, but if i could talk the seller down i could possibly work something out. How would i bypass the wholesale route and move straight to rehabbing?"

Just curious, are you wholesaling the deal to another buyer or rehabing it? A little confused because you mentioned contractors but then you mentioned setting up a legal entity for a wholesale business. 

would be interested in recommendations as well. Has anyone had any good experiences with contractors in westchester, NY?

Looking to connect with wholesalers in lower New York/New York city. Based in Westchester county, but willing to do deals within a reasonable radius.

Spent most of my Saturday "Driving For Dollars" & scoping out neighborhoods with existing listings.  I have to say it's amazing how beneficial this was.  I've been getting stuck in the "analysis paralysis" stage, and it was great to get out there.

We happened to pass an open house, went in, spoke to the listing agents, told them what we were looking for and exchanged information and actually attended another open house they hosted that afternoon.

We also scoped out a listing in another area, and within 30 seconds another investor and his agent pulled up.  We exchanged information and discussed our individual strategies. We spoke to neighbors, the mailman, and anyone we saw near listed properties we were scoping. My partner and I tried to put an offer on a property we saw but unfortunately it already had an accepted cash offer, with a backup cash offer. 

It's amazing how just driving around can lead to so much networking.