All Forum Posts by: Tzvi Balsam

@Sean Jordan

Why would you want a mix use, It will fall in to a commercial category and can be difficult with financing.

When you say commutable from NYC, how far from NYC and where in NYC are you talking from NY is big  ?

A older fellow approached me he would like to sell me the properties he owns he would like to retire. I took a contract on 2 properties so far.

I am not looking to be a "buy and hold investor" as of now because I do not like the management aspect of it. I am only buying to wholesale the deal to another investor, or sell it right away after I close.

Now this is my question are there many investors who will buy a property even if it wont cash flow, or has great numbers, will I be able to get much more money on the open market for it?

Its in North jersey where the market is really hot I would like to hear from other Investors who put properties on the market and had people bidding for it above what it makes sense on paper.

Its a 7 Unit so I understand it will be different then a 1-4 Unit.

Bump

@Kevin Harrison @Marlon Perez

I am not talking about a cap rate, I see Investors calculating how much the cost is per door and how many times the rent.

Would like to understand more these numbers.

@Jerryll Noorden

LOL I am backing off. I like your passion its a great thing it should get you far. and just by the way I understand how you feel I am in the same boat all the time, but that just the way of life. 

@Jerryll Noorden

I feel like you understand something.

 Cash is King, you need the cash you will do it on his terms, when you have cash you will do it on your own terms that's the way of life.

If you are so confident in the deal, why do you want a partner, go get hard money, go max out your Credit Cards ................... 

@Jerryll Noorden

You are not being reasonable

What makes you not walk away from the deal if you bump in to hardship?

Ask the bank why they only give 75 LTV even if you found a property a million dollars below market value. Its because they don't want people walking away

I would love to partner with someone on a flip in Bayonne NJ. I am willing to fund it, and split the profits 50/50 . has to be a great deal, and has to have experience, and come with a detailed plan comps, repair projections, .......

And in general looking for deals in Bayonne, If any one has any good deals send them this way. 

Thanks In Advance 

In Brooklyn I hear people buying buildings based on how many times the rent it is. For example if purchase price is 8 times the rent its considered a great deal, If its 10 times the rent not so great.

I wanted to understand this more, if someone can please explain this concept.

@Jerryll Noorden

I would definitely consider it 50/50 If this deal was in my area (NJ/NY) and I can be involved, although I would want you to put in at least 10 percent.