All Forum Posts by: Tom Chen

So a couple of news articles have come up in my feed how housing construction has taken a dive in the last month or so.  Does this mean that it will be a better investing market for us?

http://www.businessinsider.com/housing-starts-and-building-permits-november-2016-2016-12 

Done. I'm brand new to BP, but live the podcasts so far. Looking forward to networking with people and landing my first deal in the very near future.

Congrats!!!

Thank you Vas. I am actually looking in areas that are less affluent because at this time, that's all I can afford. I won't be able to do the fha loans because I already own a home and family would definitely have my head if I proposed to move. lol I still need to explore my heloc option which I didn't before because I was still upside down on my mortgage (bought this house at its very peak pricing before the crash). I think the value has recovered and I should be able to refi and get a heloc which will open doors for me. I'm thinking in the end, I should have somewhere in the neighborhood of $50k more or less to invest. Still learning so I won't be pulling the trigger yet, but definitely wanted to introduce and network.

Thank you Christopher. I am aware of the home condition at that price range, but unfortunately due to my capital limitations, that seems the best course of action. I already live in a home I own so fha isn't an option (wife and kids wouldn't want to move). I haven't explored the heloc option as yet. Unless I think about investing outside of NY...which would be a challenge in itself.

Hello everyone... So I didn't read the sticky on how to I intro. Apologies. New member in Long Island and I'm hoping to get started within the next 6 months. I was thinking of SFH in the less affluent neighborhoods since my DP is only going to be around $15k. Obviously I would thoroughly vet the renters to get started. Looking to B&H since I don't have enough capital to flip and have a day job. So even in some of those neighborhoods, homes are still listed at around $150k - $200k...my FICO is a little above 700. Will that DP be enough to try and get started? If it is, the cash flow should still be worth it at the rental rates in the area. I'm basing all my assumptions off Zillow estimates and rental prices. Thanks in advance! Tom

Hello everyone,

I'm in Long Island NY and am starting to educate myself on how to invest in Real Estate to build wealth.  Having a single source of income from a job scares the crap out of me.

So I'm starting to listen to the podcasts and reading up on the different articles.  I have a bit of cash saved up and want to start within the next 6 months.

So in the NY market, i'm looking to do B&H...  If there are any other NYers with tips, I'm all ears.  

Thanks,

Tom