All Forum Posts by: Donald Jeune

@John Hickey

How are you generating your leads? Are you sending out mail ? REOs? Foreclusures? MLS? I'm interested in flipping but wanted to get advice on the best way to generate leads in the area.

-Donald Jeune

@Dan Mitchen For some reason I missed your post. I am looking at distressed properties in parts of Cleveland and wanted to have a system set up before investing but I haven't found any Cleveland contractors yet through BP. The work being done would vary. If you know of any good contractors then please let me know. 

 You can PM me when you get the chance.  @Juan Perez 

I tried the same thing with a 203K for that price range in Brooklyn. At that price range, investors are paying all cash for the property so its hard to get the property using a 203K loan since the seller would always prefer a cash purchase. You would have to go to the owner/seller directly and try to purchase it before anyone else finds it through the MLS. Once it hits the MLS and its a good deal, an investor will probably snatch it up.

Does anyone have any good contractors that they would recommend in Cleveland, Ohio? 

I've been looking into properties in Cleveland,Ohio and I have been getting in contact with a few realtors that have been showing me properties in the area. Since I'm from Brooklyn,NY it has been mostly photos and videos of the distressed properties. I wanted to get rehab estimates from contractors in the Cleveland area to make sure that the deals are worthwhile. I went to Cleveland 2 weeks ago and plan on doing so within the next month or so. If anyone is a contractor or has any good contractors they recommend then please let me know. 

I'm looking for multi's under 400K but having some trouble doing so through the usual websites (realtor, trulia etc). Anyone know of any good wholesalers in the Bronx? 

@Abel Curiel

Thanks for the encouragement and advice. I will definitely look into finding some wholesalers in Bronx. 

Don't think you can get a house in the 5 boroughs for that amount. If you find one then it will most likely need a gut renovation but even that would be rare to find at that price in NY. If you got pre-approved for that amount perhaps its become of your income, credit, or debt to income ratio. Maybe you can try finding a co-borrower or co-signer with more income and better credit to go on the FHA with you?

@Adam K. I haven't heard of streeteasy but i'll look into it. Thanks

@Abena Sidibe I did hear from somewhere elsethat sellers do prefer the conventional loan rather than the 203K since the process is faster.  Paying a down payment on a conventional loan is way too much in Brooklyn/Bronx/Queens. I'll keep grinding till i find a deal though. Thanks for the encouragement!

@Anthony Espinal Thats real good to know. I'll keep using it then. I'm also going to take real estate agent classes in order to get my license within the next couple of months so that should also help. Thanks for the insight.