My name is Brian Baker and I live in NY, NY with my wife. We own a personal training business and I'm looking to supplement our income. Here is my breakdown of goals:
My first goal is to make $1,800/mo (or bigger chunks of change more spread out) in order to cover our rent.
Secondly, I would like enough to start paying off all our debts (student loans, CC's, etc).
Thirdly, I want to begin building our net worth. I want to learn the in's and out's of investing and just keep building the net worth and my network.
My wife and I sold our Queens, NY condo and have about $90k equity leftover. Our realtor directed us towards foreclosure auctions to find a deal since he specializes in short sales and foreclosures. However, I've been frequently outbid, and I also don't have the funds to spend on doing title searches, especially when the likelihood is I will get outbid. Recently I offered to invest through my realtor who is working on an investment which I will give me him the $90k and get $100k back after 3 months (we're going to work out an agreement with attorneys, etc.)
I plan on reading the beginner's guide from BP, attending webinars, and watching as money videos as possible through youtube to learn. Once I feel more comfortable, I will upgrade to the pro version of the message board. I have attended renatus workshops, but stumbled across this message board suggesting I get all the information they charge you for, for free here. Thus I am here. :)
Now that my introduction is over, I just wanted to see who is the NY, NY area and what kind of income they are find the most success with (buy and hold, flipping, foreclosure auctions, etc). I'm really excited to learn as much about all this as I can and hope to meet business partners, colleagues, and friends! Thanks!
Welcome. Fill in the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
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Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
Consider checking out HUD homes for small multi's owner occupied gets first crack.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
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