All Forum Posts by: Cesar Figueroa

I love all the engagement and support from the community. I think I landed on Columbus, but Detroit can be next.  I’d love to connect with like minded investors, if you’re open to a phone chat to pick each other’s brain please DM me.  Would love to network with any and all. 

Thanks everyone for the tips.  I will check out the neighborhoods listed.  Columbus sounds great too, especially with all the growth.  My only concern with Cleveland is it seems to be shrinking consistently YoY.  But there is definitely less there in the price range I am looking for!

Quote from @Nicholas L.:

@Cesar Figueroa why not pick a market within a couple hours of NYC rather than something you'd have to fly to?

Hi Nicholas, doesn’t seem to be very many solid areas to invest with decent cash flow in the area.  NJ taxes are crazy high and everything is already expensive.  I figure being a flight away isn’t going to be much different than being a 2-3 hour car drive away.  Especially being I don’t have a car.  Thinking of moving out of NYC and doing a sort of house hack somewhere as a primary residence, but currently here until end of the year! 

Quote from @Michael P.:

I would also check out Toledo in that corridor.

 I will check out Toledo too, haven’t given it much thought prior.  Thank you!  

Hi all!  New to investing and am really excited to get into it.  I’ve been a lurker of BP for years and have never had the guts to do it.  I am living out of NYC and have the opportunity to travel a bit more as I work in tech and am remote.  That being said, I am hyper interested in the Cleveland and Detroit markets.  

My main goal is to get decent cash flow, but of course appreciation trickled in. I want to knock out my first SFR purchase in the next 3 months and am hoping to network with link minded people in both of these markets. Or any advice/comments/nuggets would be great. I will say I don't have a construction background, but I'd like to build a solid network so I can pop in and out of the areas and oversee projects.

Thanks and hope you all are having a great weekend!  

Well the goal is to become seasoned :).  Thanks again for all the replies!

I'm sorry Melissa, Hard Money Lenders.  Private lenders to purchase a home that needs rehab, which a bank will not typically loan on because of the condition.  Usually short term loans that they charge high interest rates, but they make for quick money to use to flip.

@Melissa Gittens

Thank you guys very much for the responses! Yes it looks like I need to get a pre approval, I found a HML who is willing to get one out to me tomorrow or Monday. Love this forum, thanks for the immediate responses, and Happy Easter!

Hello everyone!  I hope you are all well.  My partner and I are new investors in NY.  We live in NYC, but are looking in NJ, upstate NY and CT.  We found a dynamite place that we are ready to make an offer on, but we came to this question.  I am a licensed real estate agent in NYC.  When I submit offers, I always submit with a pre approval letter. 

How do you submit an offer with a HML? Do I need to get a pre approval from a HML? On a property that is in such bad shape it can't get a mortgage, does the broker understand what a HML loan is?

Everyone who has used a HML before, what is your strategy for making offers on the MLS? Especially when you don't have the relationship to get a POF with them?

If you are a HML in NY and can chime in please do. Thank you.

Hello everyone!  I just signed up and I am really excited to learn more about real estate investing.  Currently living in NYC, my 3 friends and I want to start investing in small properties in the south and do quick flips.  Hoping to buy up 60-70k 3 bedroom homes that need work, dump some money and flip in about 30-60 days. 

My question for all of you vets!  We don't have a lot of assets currently, but we were told that some people go to a bank and get a personal line of credit and buy these places cash with our lines of credit. 

My question is, do any of you have any experience with financing this way?  And how likely is it to get a good size line of credit with a credit score of low 700s?  Also if this isn't the best option, do you have other suggestions?  Aside from friends and family money, as my friends and family are in the same boat as me!  

Thank you all in advance and I am very excited to make some money!