Updated over 7 years ago on . Most recent reply
Networking in New York City Area
Hi everyone!
I moved to NYC 4 years ago for a career change, and I have been thinking about how to get out of my student loan debt faster and create passive income to retire early by having a financial freedom.
I am motivated to learn about real estate investing and am looking to network with people (newbie or experienced) in NYC. Currently, I am most interested in learning about wholesaling due to lack of my own money in my bank account.
Is there anyone interested in meeting up for a coffee, and get hands on experience in wholesaling by applying concepts and ideas discussed in BiggerPocket? i.e. finding potential deals on craigslist by calling apartment ads or working on business plan as a wholesale. We can help each other analyze deals or look properties.
Let me know if you are interested!
Most Popular Reply
Short term: Develop team, agent/property manager/contractors/lender/lawyer for a flip. Justification: To raise capital for first buy and hold property, taking all costs (down payment, renovations, taxes, vacancy rate, insurance, etc.) into consideration. Then..
Long Term: Buy and hold using the BRRRR Strategy. The ability to leverage refinancing to quickly develop a portfolio is attractive, and that means the bottleneck is the ability to FIND deals. Having said that, finding a rockstar agent (one that can connect us with the team mentioned above, and can FIND deals) can be a true gem... Take care of them like family.
Caveat: My plans are not set in stone and am comfortable flipping or buying and hold whether its my first, middle, or last investment. It seems that deals are the bloodline of being a Real Estate investor and as we start off, finding one will be our first real challenge. If the numbers work as either a flip OR a buy and hold, I would be aggressive and put in an offer asap.
Outside of that, I am always open to working with/learning/supporting those I find here on BP, and being a local helps make that possible (I'm living in Queens at the moment). Let me know how I can help and send a message to discuss further!
gw