All Forum Posts by: Chris Mignone

Hey Everyone! I’ve decided to branch out to other areas to invest and have set my sights on Evansville as a target. Believe it or not, I have made very quick progress with a couple of sellers and have already gotten contracts on a property. This happened much quicker than expected.

I am looking to network with anyone and everyone regarding Evansville real estate. I’ve already spoken with a couple of property managers, realtors, home inspector, title company, etc but would love to build as big of a network as possible out there even though I am out of state. I hope to speak with some of you soon!

@Tara M. Well if you're paying the heat, I hope the house is insulated well lol! Maybe consider offering a bit lower rent and asking the tenant in the larger unit to pay the heating bill. Is there only 1 electric meter as well?

@Tara M. So there's only 1 heating unit for the whole house?

@Emily Ellis There is absolutely nothing illegal about wholesaling in NY. It is just more difficult to do here than in other states. You're not selling the property, you're assigning the contracts for the property.

@Justin Rockitter more difficult than other places but definitely possible. Doing it right now with some success.

@Dennis Kelly There are a ton of variables here that would determine the best course of action moving forward right now. Such as: what's your spread? What's your financing situation, hard money, private, self funded? How long can you sit vacant before you lose money? Do you have extra furniture anywhere to make it a short term rental while you wait for market to adjust to new normal? Do you have an investor friendly realtor to help you make these decisions? I know the neighborhood well as I grew up there and also flipped a property there last year. Let me know if I can be of any help. Good luck!

@Matthew Kalwiss Congrats on your success!!

@WILLIAM WELCH hey Bill. I'm in Suffolk as well. Bought a property last year that I planned on using the BRRRR method but ended up flipping it instead. Looking to BRRRR a place right now probably in Shirley or Mastic and go section 8.

@Kristen Ford I'll DM you!

@Kristen Ford Welcome! 203k loans can be a great option to value add. It's important to work right a lender who specializes in them as they can best help you navigate the intricacies of the product. You'll also need to use licensed and insured contractors for all the work. I'm happy to recommend a lender if you like. And I LOVE multi families on LI, especially if you are house hacking, it's exactly what I do!