All Forum Posts by: Darren Sager

@Llewelyn A. any insight to the above.  You're my go to expert on the area.  

Welcome to BiggerPockets @Adrien Salvador.  Glad to have you on board.  203K loans can be tricky as the rule of thumb is that you're going to overpay for the service that the 203K loan approved contractor will provide.  There's much more red tape involved with getting the work done and the contractor getting paid.  The contractors wind up floating the money up front to cover all the costs so in most cases that we're aware of they put a large buffer in there for interest.  Just keep that in mind. There are other programs we've heard of that offer something similar but don't require use of the 203K loan approved contractors.

Best Ever I think is more geared toward larger Multifamily after attending it earlier this year.  

Looking forward to BP Con 2.0 in 2020.  

 @Tarl Yarber puts on a great event in Seattle (which I traveled all the way from NJ to go to) which is very worthwhile.  It's the Pacific Northwest Big Badass Real Estate Wealth Expo.   This year it's taking place July 10-12.  Tons of value at that event.  

Also @Dave Van Horn puts on the MidAtlantic Summit in Philly.  Not sure of the dates for 2020 but we'll definitely be back as the last 2 we attended were GREAT!

Third vote for @Nicholas Aiola.

@Nicholas Aiola do you know someone for @James Colgan?  You're up closer to there than I am.

@Corbin Everett real estate license classes teach you the law and how to pass the test, so go with whatever works best on your schedule.  NY does allow online classes for it.  

They won't teach you the business though.  Not even how to fill out paperwork.

@George Samios of course the bank or lender is going to speak to you. You're a potential customer.  You should have no issue getting a pre-qual letter.  And many lenders will even allow you to go thru the entire process of getting a true pre-approval (which means they're giving you a loan commitment and the property is to be determined).  By getting the true pre-approval you're as good as a cash buyer because there's no issue wondering if you'll get a commitment from a lender.  You have it in hand.

@George Samios first rule is that you understand what you can do, before you choose a location.  If you haven't spoken to a lender to find out, I'd do so right away.  Unless of course you're a cash buyer.  

After you understand what your budget is, then can determine what locations will work best for you depending upon your comfort level and experience as a real estate investor.  

Also close to NYC is subjective.  To some, it's across the Hudson River.  To others, it's within 30 minutes or an hour from Manhattan.  

Overall people are moving towards the city, and to places that have easy access into Manhattan, such as train station towns with a direct path in.

Hey @Tomas Janusas, you can find an agent thru the BiggerPockets Agent search feature which is here:

https://www.biggerpockets.com/real-estate-companies/find-real-estate-agent-directory

Or, you can also search the forums to see who's active and participating as a means to find one.  Always is good to try to find an agent with similar experience to what you're trying to do, so that they can act as a resource to you after the sale. 

Gabe did an AMAZING informative session last night in Manhattan!  So looking forward to the next two nights, tonight in Clifton, NJ and tomorrow in New Rochelle, NY.  What a treat! Thanks so much @Gabriel Hamel for taking the time out of your busy schedule to come join us here in Manhattan!  Thanks for taking the time out to share with the group insight on your strategies, and also answering all those questions everyone had (even after your presentation!).  You're a wealth of info to the BiggerPockets community and we're grateful you're with us!