All Forum Posts by: Zachary Smith

Jerry Padilla would love to hear more about this program... I also frequent western NY and am looking to grow my business there soon. Would love to connect.

Looks like you're looking into a lot of important factors already. Do you have a team in place or do you plan on managing this yourself? You'll want to have done tried and true systems to have that baby running smoothly. Good luck!

Hi All,

I am looking to implement the BRRR strategy with a very large duplex in one of my sub-markets that does not have many solid comps. The property is in need of a great deal of work, my spreadsheet has it at just under 80K in repairs with a $84K asking price.

Here lies my dilemma, within the past 6 months only a few duplexes have sold, none within 1000 sqft of this property. One sold a month ago, with a condition well under what i would do to this property for 140K. 

A new property was built, two houses down, again 1000 sqft less, very similar bells and whistles to my plan and has a market value of 240K.

From an ARV perspective if i were to purchase this property at 70, put 85K (all in for 155K) could I safely expect an ARV above 160?

@Eleazar Becerra, I live buy, sell, and invest in Binghamton NY. It's a college town and very central in NY. Would love to talk to you about student housing in our area.

Welcome Kristina - your numbers background should provide you with a great start! What area in upstate NY is your husband from?

Hi @Jake Whitman, crowdfunding may be the hard way to get your first deal done. Id find a local investment club, or a friend or family member who'd be willing to partner with you on a great deal, great deal being the key word. 

@Steve W. what @Robert White has said is very true - to add to it some - a lot of these developments are going for 700-800+ for one bedrooms. Many single family homes are bing converted and marketed for 300-600 (depending on the level of upgrades) per room which appeals to students just as much.

I am an investor and agent in the area- would love to connect and discuss more

Zach

@Peter @Drawyan Zhang

@Peter Kelly -  have you tried Tioga State Bank yet? Local community bank that i've had some success with.

Are either of you currently looking for more deals in the binghamton/ johnson city area? I am an investor and agent in the area. Most of my deals and properties have been done in johnson city.

Hello @Jesse Wixson,

I love the ithaca area. I live, invest and buy/sell in the Binghamton Area, - but my family is in Dryden so I get out there often. We have a meet up out here in Binghamton every 4th Tuesday at Brothers Two restaurant - lots of networking there.

What kind of deals are you working on currently?

Hi @Noah Singer & @Phylicia Stephenson  I am an investor and agent in Binghamton -focusing in student housing and other very specific niches. Are both of you still in the area / back in the area - I'd love to connect.

Every 4th tuesday of the month there is a REI meet up held in vestal headed up by @Christopher Stanis - a wealth of knowledge and information.

Let me know when youre free - and we can grab a cup of coffee and one of the two new coffee cafes in binghamton (a great sign of the area coming back!)