All Forum Posts by: Account Closed

It does not matter where you are. There are deals all over the US. The most important thing for you to answer is what is it you want from your investments. Do you want more quick cash from flips, or income from your rentals? I personally am doing both. I'm buying and selling single family houses to raise cash to buy multifamily for the long term passive income. 

How are you going to handle managing the property from New York? 

As of this morning some of those deals have been sold. So if you see any you like let me know the address and I'll let you know if it is still available. 

What is your 1st step you must accomplish to 'Become financially free?'

If you get a local realtors contract and make sure it has the words that deals with assignments. You want to check off the terms where you can assign the contract. 

Did you get the info I sent you?

Welcome to the BP site. What are your goals for real estate?

Cap rates are always calculated based on purchase price. If you are an out of town owner then having a management company working for you is a must. I work with one here in Orlando FL that only charges 7%. They also has the rehab and maintenance crews available if needed.

My advice to new investors is to start wholesaling properties. First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. There should be some. Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close.

When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then again go to the assessors website and find their name and mailing address.

Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.

Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'

I hope this helps.

Steve Anderson

I tried to find your contact info but it was not on your profile. You can get my phone number and email address by clicking on my picture. Either email me or call me to discuss how I can help you in central Florida.