All Forum Posts by: Abel Curiel

Hello @Will Park,

At $1.8M for a Quad in NYC (Manhattan) is pretty good since Average sale price of Quads is over $2M.

If you're looking at a 4-family in the outerboroughs (BK, BX, Queens), $1.8M is substantially higher than the average of about $1.4M for Quads.
Median sale price is even lower in the outer boroughs $1.25M last year and $1.26M so far this year.

This could be risky when trying to account for future value increases as you'd be close to the top of the market. 

That said, neighborhoods with ~$1.8M 4-famiy properties tend to have lower tenant turnover, and higher-quality tenant pools. Still many other variables to consider here before determining whether this purchase is risky from a property value standpoint i.e. location/neighborhood, deferred maintenance, vacancy on title, etc.

From a tax standpoint, I defer to @Basit.

All the best!

Abel

Public records, skip tracing, direct mail, etc., are familiar lead sources for wholesalers. The best lead sources are typically when you are directly in touch with the motivated seller.

Partnering with an agent could work, but that depends on the partnership.

Will the agent:
- supply leads for you to call and pre-screen
- help you run comps
- help you speak with the seller 
- provide additional tools and support
?

Lastly, follow-up is super important - thats how you'll make your money. 
No matter where you get your leads from, it won't make a difference in the end if you lose touch with a property owner. Keep in touch after the initial contact until they decide to work with you OR until they tell you to leave them alone.

All the best!

Abel

Quote from @Alex S.:

Hey everyone! 👋

I’m an investor-friendly agent myself, and I’m always looking to connect with others in the same space - whether that’s to share tools, insights, or find better ways to evaluate deals and support clients.

I’ve found BP forums to be an active community, but I'm wondering if there's something else out there. Are there any active online communities, Discord groups, forums, masterminds, or even meetups you’ve found helpful for agents like us?

Would love to hear where you all go to swap ideas or find investor leads (except for the BP forums). 🙌

 Super old school and not very efficient but I've been having a ton of success 1 on 1.

I attended a BP webinar last week and connected with a couple of investor-friendly agents.

Maybe @Adam Macias has some insights since he connects with many agents on here.

Lastly, BPCon is next month - can't think of a better meet-up. I'll be there as well but if you can't attend, I'd be happy to jump on a call/zoom and mastermind some other time.

All the best!

Abel

 Hello Tammy,

I'd try promoting on:

- Google Business
- Instagram
- Youtube
- TikTok, etc.

Find local Real Estate influencers - (agents, videographers, investors, etc.) and ask them to feature your property across their channels.

You can hire a photographer/videographer on your own but you'd then have to share the content on as many platforms as possible.

You can also pull up recent sales nearby and contact listing agents and/or buyer's agents - ask them to promote your listing to their databases.

Agents might ask about commission and they'll likely also try to convince you to list with them... Use Eminem's method in 8-Mile... Take away their ammo by, first, telling them you'd agree to pay X if they brought a buyer and that you're NOT interested in listing your property (if thats the case).

Lastly, The best way to promote it on Zillow is to have it priced to sell.

Specifically, pricing it about 3% below average sale price (or estimated value) will bring direct buyer traffic and agent traffic.
This doesn't mean you're SELLING for less, it just means you're listing it at a # that is enticing to prospective buyers. This leads to more views, more inquiries, more showings, more offers, and hopefully a bidding war.

Another reason for pricing this way is to account for the fall season which usually brings less buyer traffic. The fall/winter can also lead to higher 'Days on Market' (DOM) and competition i.e. more inventory. 

Per Housingwire, nationwide inventory is up 20% YOY which could be a challenge for sellers BUT Miami's inventory could be in a different place - NY inventory is up only 3.5% YOY.

Either way, I think your best promotion would be pricing to sell.

All the best!

Abel

Quote from @Rene Hosman:

Quote from @Henry Clark:

OP

I vote yes to the following.

1. WHY? REI. Have a forum section on WHY? Shout out to Nicks Boathouse in Pensacola. Eggs Benedict with crab. Best Green Fried Tomatoes I have ever had. Paid for by REI both money and time.

2.  View count on posts.  Other forums do.  You do on blogs.   Helps me tell which topics are more interesting.  I have found most BP members don’t post.

3. Podcasts- use more of the posters on the forums. To me they have street cred. If you post 100s or 1000s of post the BS shows thru. Or you're the real deal. I have watched 3 podcasts in my life. Of the mm BP forum users I will watch more of the BP posters who have given freely to the community more than other REI celebs.

4.  Improve the lookup function.   Even if I type my name in and the post title I wrote it won’t pop up near the top.

5. AI baby. Is REI or the S&P 500 best. This is an old topic that keeps recurring. Which it should. Start having an AI response even if it has a disclaimer this may be wrong. Or what is the best REI market. Everyone should know, it's where you live. AI a response then let the conversation begin.

Monetize- after day 3 of a post reference paid for material or advertised material.  Or podcasts.  There is so much material on BP now.  Direct the person so the connection is made.

As a former Controller and CFO I always prioritized profitability and Customer experience when viewing our companies directions.  Learn to monetize the above comments.  As a PE firm you have a 3 to 5 year horizon.  Glad to help you improve my experience on BP.

Keep pushing the dream of WHY?

 Could not agree more with the WHY Henry! I do hope if you're open to it, that you clicked the link for the screener, I know you've been around a long time and brought a lot of value to the forums yourself, so if you're willing to talk to the product team I think you'd have valued insight!!

 Hey Rene, link is not working. "Study is closed"

Hello Chris!
I like your lead generation approach here. Local investors can have an upper hand when competiting for a deal with other investors, wholesalers, brokers, etc.

 Great advice from 

@Jp Kilduff regarding skip tracing.

If you decide to start calling 100s/1000s per month, I'd recommend a dialer system that can pull data on the property owner, give you quick access property value info, and more.

All the best!

Abel

Moderating the S*** out of this Forum!! 

Keep doing your thing Rene!

 Hello Phoenix,

Good that you're planning ahead on your first deal. As @Nicholas L. mentioned, you'd be ahead of the game with a househack or 2 in the next few years.

House hacking will allow you to keep your entry costs relatively low i.e. 3.5% or 5% of the purchase price. To put it in perspective, the Average sale price for 2-4 family properties on Long Island have gone up 19.4% since 2023 (median price has increased 14.1%). 

This means the minimum down payment for a househack nearby went from about $25,550 to about $29,750 in the last couple of years... despite small multifamily prices going from $730K to $850K in that span.

As another option, you ca flip houses. Put down about 10% of the purchase, and finance the renovation costs as well with a Hard Money Loan. This is a huge undertaking for most first-time investors. Since you're earning a related degree and maybe have some additional experience, flipping may be less risky for you vs. most 1st time investors.

Still, I think househacking is the way to go. Florida is super attractive because it is landlord friendly (especially when compared to NY). The 2-4 family property pricepoints in Florida could be more favorable to NY as well.

If you were to look locally on Long Island for a househack deal, it could get pretty competitive. Many buyers are putting down 10-30% but you can still get a deal done with an FHA or low-down-payment conventional loan (~95% LTV).

All the best!

Abel

 Hey Bryan!

Is this for litigation or to represent you on a deal?

Shooting you a PM as well.

Abel

Hello @Jonathan Warner,

I used Repair Pricer about 4 years ago and found it to be pretty helpful.

Hope this helps!

Abel