New to real estate investing from Syracuse, NY

East Syracuse, NY · Member since 2016 · 1 post · 1 vote

Newbee real estate investor looking to put equity in primary home to work for me.

Looking for insight, financing, and suggestions on successful real estate investing. Currently 45 and looking to retire comfortably.

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Chris JacksonPro Member

Investor · Southold, NY · Member since 2016 · 173 posts · 154 votes

10y

@Marc Orlando contact me directly. We have multifamily in Syracuse for many years and this year have picked up 20 SFRs in Syracuse.

I have the contact you should call in the area to help find you one if you are serious.

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Dave VisayaPro Member
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Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
10y
Hey @Marc Orlando, welcome to BiggerPockets! Definitely start jumping into the community here and feel free to ask any questions related to Real Estate investing!
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Valentina Naumenko
Property Manager · Orlando Kissimmee, Daytona Beach & Cocoa Beach · Member since 2016 · 331 posts · 166 votes
10y
Hi @Marc Orlando
Welcome to BP. Orlando is a great choice. Our investors turn their properties either in short- term or long term rentals. I am an expert in both. I will be happy to go over some ideas with you and provide with calculations. Feel free to contact me.
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Account Closed
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
10y
My advice to new investors is to start wholesaling properties. This does not require much of any marketing money to start and to get deals closed.
First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. (Not by using Google maps because they can easily be outdated pictures) There should be some.
Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter (not yellow letter because they are getting dozens of them) telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close. Write it up as a personal letter.
When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. That typically is investors. Then again go to the assessors website and find their name and mailing address. Also do a name search on the assessors website to see how many other properties they own. If they own several they are obviously investors.
Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash and get it under contract. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it. If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.
Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'
I hope this helps.

Steve Anderson
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Justin Stamper
Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
10y
@Account Closed dude dont suggest people start off trying to wholesale. That is like the cause of the problem of why everyone hates wholesaling. Its hard and its not for everyone. Just because they dont need large amounts of start up money doesnt mean they should give it a whirl.
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Account Closed
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
10y
BS. That is the best and quickest and easiest way an newbee can get started to learn the business.
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Chris JacksonPro Member
Investor · Southold, NY · Member since 2016 · 173 posts · 154 votes
10y
@Marc Orlando contact me directly. We have multifamily in Syracuse for many years and this year have picked up 20 SFRs in Syracuse.
I have the contact you should call in the area to help find you one if you are serious.
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