All Forum Posts by: Andres Baena

Looking forward to it.

Best,

Hello @Olga Abreu, please feel free to reach out to discuss potential solutions. The first steps should be doing an accounting of all debts, taxes owed, speaking to local brokers (like myself) for accurate market pricing, get in contact with a mortgage broker who can give you a better handle on the numbers and can give solutions such as selling the home, refinancing or equity lines. I have several preferred lenders if you need. 

Wish you the best of luck,

Hello everyone,

I am looking to get a better handle on SFH remodeling costs in the boroughs and have heard multiple opinions as to how I should be estimating rehab costs. I want to get into foreclosure rehabbing and I'm not married to any borough. My team likes the idea of South East Queens because we know the markets and understand the buyers. Initially I was told that for a model I should be using a range of $30-$80 per sq ft based on location. Then I spoke to someone in the insurance business who recommended I should be north of $120 when rehabbing homes as certain unforeseen costs can arise such as asbestos, foundation issues, and a long eviction process which leads to longer holding costs. I have allocated in my model $10000 cash for keys and will most likely begin with only vacant properties. Anyone out here in the forums with similar experiences?

@Sal Fichera, I believe that the MLSLI application will automatically make you a member of LIBOR and NAR. Also, i'm thinking of checking out Hudson Yards the 16th during the day. We should link up if you're free.

Hello @Sal Fichera, also an attorney recently turned broker, trying to grow a real estate team. I can agree and attest that growing the business is full time as well. I was fortunate that I was able to convince 16 agents from the brokerage I used to be under and im now in the process of recruiting and redoing the marketing  for the team. It’s a lot of work and it’s been an interesting experience balancing a growing flipping business and growing a brokerage. Would love to connect one day to chat about how we can help each other.

Hello @Joseph Romano, I’ve been going the past of couple of weeks and plan to bid on a home by next Friday at the Queens auction. Any questions please feel free to reach out.

For example, I can write up a lease clause stating that the property has to be in the condition that you received it in. Say I rehab a home and its in pristine condition when I give it to a tenant, I come back a year later and notice a stain on the wood floors. I go hard on making the tenant pay for removing that stain, potentially making them replace the wood plank and labor for the contractor. I can go around the home with a fine comb and enforce little things like this with the intent to drive up the cost of repairs and ultimately make the tenant realize that its not worth the repairs...hypothetically of course.

https://www.housingwire.com/articles/48325-oregon-...

Ran across this and thought of your post.  Scary thought...but it might make investing more interesting and hurt the renters. I'm thinking that if rent is capped at an increase percentage (7%) then landlords will just be more likely to make stricter leases, increase the new rent 7% and make their new tenants agree to super strict leases. 

Hello again @Tyler Radford I can definitely help you out with finding Queens properties. My offices are based out of Bayside and Flushing. I also work with local wholesalers and come across the occasional multi-family deal. 

Hello @Ahmed Saad, would love to sit down with you to go over your goals and figure out how we can work together. I work with wholesaler groups throughout the boroughs and Long Island that bring about the occasional good deal. Shoot me a message if you're interested.

Best,

Andres