All Forum Posts by: Ben Vargas

Hi guys I'm from NYC (Bronx). I know the NYC market is very expensive for newbies like myself and I feel like I may have to look outside of the city to get started. Eventually I want to get a duplex in NYC to live/ rent out. As far as investing I will have some capital to invest soon and I feel like I should start either wholesaling or flipping in an area where the housing is cheaper for example looking at Buffalo. Id like to know where other NYC investors are investing at. Any ideas or feedback would be appreciated.

Hi Brandon this is something I was looking into as well since I'm in NYC. What I've found is that NYC makes short term rentals of 30 days or less illegal for 3 or more units unless there is a tenant staying in the unit with the renter. I think 2 family homes is what you might need to look into if you are planning on renting out the whole unit. Anyone correct me if I'm wrong.

Guys thanks for your input good points!

Hi guys this is my first post. I have been actively trying to get my first deal done in wholesaling. Here's the situation. I have a seller who has a property 8br/ 2ba free and clear with fire damage. No structural damage. Estimated repairs 40-50k. ARV about 70k. We agreed to 10k. The thing is seller does not want to go through title company to avoid paying capital gains and wants to get paid upon the deed transfer. One of my buyers says they won't touch properties with fire damage. Is this deal worth pursuing? I'm also not in the area as I live in the Bronx NY but am focusing on wholesaling in Buffalo. Any advice would be appreciated. Thanks in advance!