All Forum Posts by: Adolph Bellamy

@Solanny Sanchez

You would have to do the research to find out what area fits you based on schools/crime/price etc.

I’ve heard the Ironbound section is good but its also been hot, so it might be a little harder to purchase there due to the competition.

@Twana Rasoul I’ve realized that it seems a waste for me to look off market because I may not have the means to purchase. Usually those deals get bought up straight cash (from what I have seen) and I am not that liquid right now. The idea for the househack I would love as a starting point especially because it kills two birds with one stone. My concern with that is making sure that my fiancee and I get pre approved for a price range that is feasible in NY. I eill most definitely start to make moves towards this end though, thank you!

@Anthony Dooley I appreciate the advice. I will say that I spent many an hour looking at deals here and in New Jersey. My mother has invested as well so I believe that ai have her and our neighbor to help find good deals and not something I will fail in. Having said that, yes you are 100 percent correct, I need to know my numbers and not rush to failure. Thank you!

@Frank Rubino I would love to do so. When I spoke back in the day with real estate agents, they would always ask me to get pre approved first before we can talk seriously about purchasing properties. I believe when I last did so, I was pre approved for a property at around 300k. It is quite difficult to find said properties around me in NY that are worth buying, so I guess the next question is, do you have any idea where I would go from here?

@Alex Olson Thank you. I think of all the things I thought of, I never thought of using my Linked In (I have one of course). You mentioned you dont know my goals. Short term I would like to househack a multifamily (there are few in Long Island and I need to get my lady on board to live elsewhere in the state to find a 2-4 unit). Long term is to own something like 100 doors. That should get me to about $10,000/month cash flow, plus the properties themselves once they are paid off will do nothing but increase my networth, and I would reach financial independence.

Hey guys. My name is Andrew, Ive been a member of BiggerPockets for a few years now, and Ive "tried" to start investing in Real Estate several times.  I never put my best foot forward though, and never actually CONTINUED the process. I've gone to some meetups, spoken to some real estate agents, seen some properties, even purchased a Listsource and sent direct mail to property owners.  Even with that though, I wasn't persistent enough, hence why I'm here now without a rental.

11 weeks ago my fiancee gave birth to our first child, and I was ecstatic. I'm also scared out of my mind.  I'm 30 years old and we live in an apartment thats already too small for us and our dog, now there's a child to add to the mix.  Needless to say I'm actually devoted with proper motivation to start up this real estate venture for real now. 

Here's my problem:

I live in Long Island NY.  The entire Tri State area (especially NY city) is the hardest hit from Covid-19.  We are currently in lockdown until May 15, and who knows what the local government decides then.  I don't have much of my own money, so my best bet is to go out and talk to people, through here and in person, and put boots on the ground as much and as well as possible.  Considering my current situation, what do you guys recommend my course of action to be?

Thank you very much!

So I just purchased my first Listscource list. Hooray! Except Im confused now.  In the list I see the owners name and as I'm reading the expanded contact list I see a "Property" address and a "mail" address.  This may be a silly question to ask but I should assume that the "property" is what Im looking to buy whereas the "mail" is where the owner lives, correct?

So I'm starting up in real estate and just recently posted with regards to maybe finding an agent to help me navigate the Newark, NJ area.  I just spoke to a gentleman today to let me know officially where my financial situation is and suffice it to say by myself I'm not in the greatest standing.  Now I've read many articles and seen many webinars and podcasts from this website and one thing I always get from those media is that as long as I have a deal I can find the money.  However, I tried putting in offers previously and the agent I was working with at the time would always first ask for proof of funds (which, of course I by myself don't have enough of).  So my questions are twofold.

1-How would I be able to first secure a deal before finding the money without proof of funds? (or is there another way besides using a partner/lender to secure that).

2- Does anyone know of or would like to themselves partner with me on my (hopefully) upcoming projects? If so I would love to talk

and get to know. I have nothing but time, just need the means to make offers.

Thank you guys!

@Fernando Lama welcome! Enjoy all that this website has to offer it will change your life!