All Forum Posts by: Andrew Jennings Freerks

Hi there. Can I have the address? 

@Brianna Arce I run a small real estate development firm. We own and manage about $5.5M in assets in the Bronx, Chicagoland and Albany markets. All residential units, but expanding into larger and ground up projects. Send me a message if you’d be interested in talking more and good luck with your career!

@Mark S. Fisher how much did he charge you?  I am going through two evictions in the Bronx and it's not a cheap process.

I am booked that day.  Weekday evenings are better

I’d be down to meet other investors in the Bronx

I second Evan's response.  I have leased units to corporations in the past, and currently still do on some of my units in the Bronx.  Depending on the corporation it could be a solid way to limit vacancy and PM.  I make sure the company has a long history in the area and that they have solid funding.  A landlord I know leased to a local non-profit that lost their funding, and thus he had to evict the corporation and their tenants.  But I have only had good experiences.

HI Durnesh, a few investor friends and I are meeting up tonight in Bryant Park if you want to join.  Nothing formal, just some good convos and good connections.  I'll send you my phone number if you want to join.

@Meir Brach great question! I would recommend working PT as a realtor. The experience you would gain from sourcing deals, running transactions, filling rentals, conversating/ working with professionals (bankers, appraisers, attorneys) will strengthen your understanding of real estate and give you a good foot to stand on when you start making investment purchases. Plus, as a realtor you can collect a commission on the purchase of those assets, and find deals easier, as you will have access to the MLS. I became a realtor 10 years ago, with the intent to learn the items listed above and it has helped me immensely reach and grow my real estate investment goals.

I hope this help!

Unfortunately I did but they didn't save on my iCloud auto download and are now lost forever :(

Investment Info:

Single-family residence note investment investment.

Purchase price: $410,000
Cash invested: $60,000

A developer friend approached me with a deal, but he was lacking the cash to purchase it. We brought the cash to make the deal happen negotiating a 25% return and the right to be the exclusive broker on the back end. Also, we had direct knowledge of the area, helping to choose finishes, and layout that would make the home an optimal fix and flip.

What made you interested in investing in this type of deal?

It was very hands off, but still had a nice return. I believed in the area and the numbers

How did you find this deal and how did you negotiate it?

A friend from Bigger Pockets :)

How did you finance this deal?

Savings and investor's cash

How did you add value to the deal?

I knew the area and could tell the developer what type of finishes to use and how to best change the layout of the property to fit the market

What was the outcome?

we will see. The house is currently on the market for sale

Lessons learned? Challenges?

You can find flipping deals on the MLS in NYC!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Garreton Smith