I want to start my real estate business in NY

7 Replies

Hello everyone, my name is Jeff and I am looking for all the help and advice I can get! I would like to start my real estate business in NYC. I currently live on Long Island and am interested in the Nassau area. I am looking to find an invested real estate agent that knows the area, market trends, and understands what it means to invest in flips or Rental units and has personal experience. I am looking for deals that can be rehabbed and flipped or rented. I am looking for motivated Byers that have to sell, pre-foreclose their homes, or do not want to deal with rehabs or vacant rental units. Can anyone point me in the right direction or does anyone offer help? I am highly motivated and I am ready to invest Thank you

@Jeff Morys   Best advice  I can give is to start networking.  Start attending local RE meetups.  Very hard to find any good deals now in Nassau.  Everything is over priced.  

@Jeff Morys congrats on getting into RE. The first thing I would do is get educated. Find a local mentor who is doing what your looking to do and pair up with him/her. You could also do an online coaching program. Find someone who is an expert in sector of RE your doing.

@Christopher Phillips Thank you for getting back to me. I am now trying to use this homepage more often for its recourses. I am looking in competitive market which makes it difficult to find deals. I am having a hard time finding a deal that makes sense to flip or rehab and rent. The numbers do not add up.

@Thomas N. Thank you Thomas. You are so right. I am having a hard time getting the numbers right. Flip deals are hard to come by that make sense and even rehabbing and renting seems challenging. How do I calculate accurate expenses for a possible rental unit?

@Jeff Morys

Pretty much when the market is super tight, you have to make deals happen. Usually, by buying off market.

There are tons of homes going to foreclosure every week in every town of every price range. Many of them are over priced, but things are out there to analyze as prospects.

@Jeff Morys You have to buy off-market as Christopher said. And you need to have lump sump of cash to close quickly in a competitive market. Some people are still making deals work at courthouse auction because it is still a lot cheaper than MLS deals that everyone can find.