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All Forum Posts by: Jane Wish

Jane Wish has started 3 posts and replied 19 times.

Post: Feeling a little discouraged

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12

Hi Erin! Don't be discouraged. You will get there! You just have to believe. If sales and networking aren't your strong suit, then figure out what it is that you can bring to the table. Are you good at analyzing and finding deals? Perhaps you're creative and good with your hands? Everyone is good at something. I know networking can seem daunting. How about just starting by talking more on the forums and getting acquainted with people online? I know things are a lot less intimidating for me when I can do it with some time to gather my thoughts! Good luck.

Post: BP Newbie from Queens, NYC

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12
Originally posted by @Raul R.:

As @Basit Siddiqi mention with your budget you will definitely need to look outside of your market.. I Highly recommend @David Greene book for investing Out of State. Book has many tips and emphasizes the importance of finding your "Core 4" team, that will be make you or break you when you invest out of state.

First steps should be picking your market and what type of REI you want to get into..

Best of luck Jane!!!

Hi, Raul! Thanks for your message. I actually did purchase this book not too long ago and it is on my To-Read list. I love @David Greene He's so inspiring. As far as REI, I would really like to get into buy and hold, and since I do not have much capital, am looking to acquire properties using the BRRRR method. ^_^

Post: BP Newbie from Queens, NYC

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12
Originally posted by @Basit Siddiqi:

@Jane Wish

Welcome to biggerpockets!

I would continue what you are doing by researching real estate(listening to podcasts and reading the forums).

I would also buy some real estate related books and potentially go to some real estate networking events if you have a chance.

$30,000 can realistically buy you a $75,000 house(if we consider 20% down payment and not the 3.5% FHA down payment requirement).

Approx $5,000 will be used for closing costs
Approx $10,000 should be set aside for repairs/emergencies
The remaining $15,000 will be available for the down payment of the house.

You should be able to find some $75,000 homes...but they will likely be outside of NYC as you pointed out.

Good luck in your real estate investing journey.

Thanks so much, Basit. This was extremely informative. It's good to know that I am on the right track! Do you have any recommendations as to which areas I should be focusing on?  

Post: So what's holding you back?

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12
Originally posted by @Frank Patalano:
Originally posted by @Jane Wish:

It took me a bunch of lurking and listening to BP podcasts every day for months until I finally decided to bite the bullet and make an account. My biggest hesitations were that I had no savings and that I lived in an expensive market (NYC) which, in my mind, was a double whammy. But everyone has to start somewhere, right?

 Well I'm glad that you started your journey. Sometimes you need education which will be motivation. It will also help you realize that capital is helpful but not a requirement to make money in real estate. 

Thanks, Frank! This is something I am trying to figure out now as a person who does not have much capital, but is willing to put in sweat equity and contribute however else I can.

Post: Queens NY

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12
Originally posted by @Marzan Khan:

@Benjamin Qiu was spot on here with his forecast of the Ozone Park, Woodhaven market given pick up in price and demand in the past few years.

Curious to know if other people are finding cash-flow-positive rental areas in Queens still? My radius has now shifted to The Bronx but wondering if there’s still untapped value within Queens that I may be overlooking. Cheers. 

 I have been struggling to find a cash-flow-positive place in Queens for the longest! It seems almost impossible with any of these Coops and the houses are just so expensive. Would love to know the answer to this as well! T_T

Post: How long does a BRRRR take you?

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12

Following! This is something that I am curious about as well. Have heard about the BRRRR method a bunch from listening to all the BP podcasts about it, but would love to learn more about the actual execution of it and the timeline.

Post: So what's holding you back?

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12

It took me a bunch of lurking and listening to BP podcasts every day for months until I finally decided to bite the bullet and make an account. My biggest hesitations were that I had no savings and that I lived in an expensive market (NYC) which, in my mind, was a double whammy. But everyone has to start somewhere, right?

Post: BP Newbie from Queens, NYC

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12

Hello! My name is Jane. :) I'm from Queens, NYC and have been listening to the BP podcasts for a few months now. I've been meaning to join the forums for a while too, but finally decided that now was the time to suck it up and get over my "analysis paralysis." I am on the road to saving up $30K by the end of this year, which is not much here in NYC, but I would like to buy my first property outside of the area and follow the footsteps of the many others who have gone down the long-distance real estate investing path. Any tips would be appreciated! Thank you and looking forward to getting to know everyone.

Post: Newbie from queens , New York

Jane WishPosted
  • New York City, NY
  • Posts 20
  • Votes 12

Howdy! I'm also from Queens and new to Bigger Pockets. Glad that we are in this adventure together! "Queens gets the money!" as they say haha. Best of luck! :)