All Forum Posts by: Tzvi Balsam

@Alex Katos

Let me start off by saying (Like trump would say) Upstate NY is HUGE. I have a friend that does Upstate, Using the buy and hold strategy on single family homes and he is doing pretty well, but it takes allot of work because he has to travel from Brooklyn he drives up twice a week 4 hours each way.

He told me there were many investors when he started in the places where he does, and a year later he is the only one left, they all walked away it takes allot of commitment.

Advice: Do not rely on managers there you need to do it yourself there they are tough markets.

@Connor Depace Can you elaborate ?

@Edwin Gutierrez Best I can think of is become a real estate agent.

can only talk for the location I know,

NYC is a major bust on the way to happen people are paying crazy prices for property's through out the 5 Boroughs at record low interest, one guy just told me he refinanced a 4 million dollar loan at a 3.65 interest rate. Appraisals are up through the roof (A guy I know just bought a property in east NY all cash 600K A few months later went for refinance did not put in a penny was appraised at 1.1 million and he cashed out) everyone is cashing out now. But interest will eventually have to go up it cant be like this for ever, and when these loans will become due (5-4-3) Years you will have thousands of investors walking away (the value just is not there at interest at 6-7 percent)

But the truth is 1 god knows what will be tomorrow.

Did you try wells Fargo I know they do 80% LTV I do not know any more info though.

@Soji Oyenuga Anything In bayonne NJ or jersey City Please email me 

[email protected]

@David McCracken 9.5 if it is a real number then it sounds great, (Depending on location) but has to be real expenses ......

I have had people sending me deals with 12 cap but when I ran the numbers it was more like 3-4 CAP.

A good way of knowing roughly is by calculating 50 percent of income towards expenses before mortgage.

@Jason Kallina Interesting question, I will not take the time to answer it because there is no 1 answer you can work out commission either way.

But what i would tell you from my experience  I do not take commission when I would rather my commission be loyalty for example I have referred many deals to my lawyer and guess what he is always ready for me and bends backwards to make me happy and gives me great pricing, It more worth it for me then getting a few hundred dollars.

And guess what he sent me 2 real estate deals from one of his clients best deals i bought so far.

@John Rogers Are you out of state to or only in florida?

@Chad Deberry What works better for you ?