All Forum Posts by: Account Closed

JR Voris I also heard the CO is a pain but is not a deal breaker, I would discount it but no by much.

@Eric F. your over thinking this simple logic, keep in mind in the beginning of this thread i stated this applies to the NYC and NJ.  Using the traditional wholesale method in my market those not work as well in comparison to your market.

In the NYC and NJ market the sellers are different type of breed of people and they have back out many times for silly little things, I am sure in your market a hand shake is a bond but in this market time is your enemy and whatever way you could prevent a seller from backing out, this is an added option for it.

I dont know why you want to focus and the"stress statement" that was just added information but that doesn't make or brake this strategy.

The conclusion, many responded here that using the MLS would get you a higher profit margin. I didnt create this thread to figure out stress levels or sellers backing out that you seen to be focusing on. By purchasing a off market deal and re-selling it on the MLS yourself will get you a higher profit margin but of course there is some pro's and con's behind that but in my market NYC & NJ there is more pro's than con's.

It seems to me the clear winner is purchasing the off market property yourself and put it on the MLS for maximum profit. The risk and downside is that you have to use your own money so this strategy is not easy but more profitable. Thank you everyone for your response,

Gena Kirkwood I put it on the MLS to attract more traffic, it works great that way for anybody who doesn't want to hire a listing agent, but only great in the NYC market. I have not tried it on other markets so I'm sure having a listing agent on some markets is more beneficial.

I will tell you where not to get one and that's on Craigslist

Diane G. No point in metro locations, plenty opportunity in small towns

Raymond Chan there isn't a specific statistic tool for real estate investors for the NYC market. Of course you have the professionals who have their own tool and programs. I never say no such tool doesn't exit overall, but the one your looking for is not popular because I have been successful without needed such tool.

Nilokas Kane there's way to make money here but is a slow process. I recently flip a property here in queens but couldn't do much other deals since my time and funds was tied up on that one property due to being a half million dollar home and that's the norm here. To make any profit here you have to play with the big boys. $100k here won't get you anywhere but in other markets it will get you 1-3 homes. You have to know creative financing and how to have access to $400-$500k if your doing it on your own in this market. I always recommend beginner investors to partner up in this market. NYC has reach its peak in flipping and buy and hold, the next phase is developing which you could make a cash cow profit but then again you need more capital and know the right people. My advice to you is start looking at the New Jersey market, the potential is there and the cost is flexible. I'm not saying leave NYC but due keep an eye on it and once the market slows down in NYC, then proceed. I'm taking a break of NYC and started investing in NJ.

Raymond Chan not in this market NYC,

Dell Schlabach thanks for clearing that up, seems like the MLS is a better higher profit tool than just having a buyers/investors list.