Hey whats up bigger pockets family? I am a new investor in New York. I'm still at my researching stage and I'm still learning about real estate. However this past week I did a lot of research and found some potential deals and I reached out the home owners via direct mail. I am looking to wholesale, assigning contracts, to begin my real estate journey to raise capital and venture off to flipping houses and also becoming a landlord. The New York real estate market is very pricey and I wanted to get some thoughts and advice on wholesaling in New York. Do you guys think that assigning contracts is possible in New York?
How's it going? I'm also in New York, trying to figure out how to get into this market. You seem to be steps ahead of me because I'm just in the education phase of things. Hope things work out for you!
I am still trying to figure things out in the New York market too. My advice is to take action while you are still learning. Experience is the greatest teacher. I'd like to share this quote with you. "Sometimes you have to jump off a roof and grow wings on your way down." I feel like that's how we will succeed in the real estate world.
To be honest with you, the markets here in NY are very tough for us investors. This is why I opted to invest out of state where my money went a lot further. I highly recommend attending some local REI meetings and you might be able to meet an investor that does wholesaling here and can help.
I agree, I'm new at this and I can tell that New York's market is challenging. I will definitely look into the local REI meetings to network. Thank you for your advice.
@Steve Kontos I'm open minded especially because I'm new to all this. I'd rather get my money to go a lot further like you said.
@Reynaldo Eloy . You can absolutely wholesale in NYC. It takes hustle and moxie, but if you can get distressed property owners to listen to you, you can do it. And when you get those contracts, let me know. I've got lots of investors taking assignments from wholesalers. Good luck and let me know if I can help.
@Randi Plevy Thank you. I will definitely let you know when i get those contracts. Lets connect!