All Forum Posts by: John Hickey

K folks.  Your looking for proof?

508 Lafayette ave Brooklyn NY 11205

Purchase 6/2007 714k sold 7/2017 1.7m

54 benkard Newburgh by 12550

Purchase 5/2017 47k sold 11/18 159k

163 broadway Newburgh ny 

Purchase 9/2017 560k sold 9/2019 895k

Those aren’t flips.  I didnt gut renovate and sell them.  

I buy crack dens and clean them up and sell them.

I’m not the only one doing it. If you have have what it takes it’s relatively easy.  

@Brian Brusich if there is an upswing you should probably look someplace Else.  

Someone is in control of that upswing. 

 If your not in control of the upswing what you buy is a gamble.  

@Scott Mac I don’t think I’m very altruist.

But yes I will move problems from where I own to where others own. 

And guess what.  I not only try to figure out where to put the problems I also plan to where to put them.  And then after a bit I go there and start making offers.  

Just yesterday I went and made an offer to an owner.  He said things have gotten very bad aroind here recently. I can’t take it anymore.  

When I was outside I knew most of the junkies.  I had told them they could not  be near my corner anymore recently.  They refused......when they wouldn’t leave I had used some unorthodox methods to encourage them to leave. They left  

His offer to me was much lower than market.  Once I close I will move them again.  

@Will Barnard

Your first sentence is 100% correct. Yes what I do is high risk.

This is not a “hey I have a new investment strategy that’s fine and easy and anyone can do it post”

I do not suggest this for someone that is just getting started in RE. There are plenty of other folks this will not appeal to.

Although for the right type of person this can be your first stab at RE  

People that have specialized skills.  

But if you think your juts an average type, looking for minimal returns keep moving   

This is  not for everyone....although I personally think anyone can do it   

But not everyone will.

Unless they have stones.

The words i write here are not going to give some spineless loser the intestinal fortitude to walk down the most dangerous blocks in the world buy houses and turn crack dens into Disney land for hipsters.

if you have the stomach for what I do I will devote myslef to help you turn war zones into safe zones.

And if your tougher then I am have and have experience in this arena pls share your info.

I will return the favor in some way.

If not move one check out Zillow mls auction.com....cruise loop net. There are plenty of 5 caps about there......

This stuff I want to share is not average guy stuff.

You said.....

This is a high risk strategy that requires boots on the ground, lots of capital to back you and is not for everyone, particularly someone just getting started. It can also be dangerous, personally, I’m not risking my life just to make a buck in a cesspool, I can make money in better areas without the risk or headaches that come with this strategy. That said, I am certainly not discouraging you, just pointing out to others the risks involved. 

@Brian Brusich pls explain.

@Jon Schoeller

You have this kind of property close by?

@Cin Suan Khai

The stuff I buy now isn’t usually cash flowing....or it is but it’s got some issue so it’s not being sold at the local cap rate.

Cash flowing deals in today’s market are too expensive for me. I was years ago and that was my sheet. Now when I buy I usually buy such bad property that I’m not keeping any tenants so I don’t care what they pay.

I for the most part only buy heavily distressed property. If they do happen to cashflow that’s great but not a metric I stress when buying nowadays.

When I did this sheet spring of 2017 I was still transitioning to what I do now and I see you guys are in my former mode so I figured it would help.

That property 228 broadway Newburgh ny had a drug dealer,a non paying tenant and vacant store. Needed a ton of work.

I’m in contract to sell it now.

@Tyrone Hood what’s your email dm me.

@Jerryll Noorden probably could have broken Into stand up Comedy and crushed it there as well.  

@Jon Schoeller is it that area near Kanazawa? Crime is high enough. Don’t see many vacants tho.

You need something like this   

If you scroll down there a few rows of vacants   Say 20 units.  That’s  when the strategy works well   

https://www.flickr.com/photos/...

Where are you thinking.