All Forum Posts by: Keisha F.

@Joe White Thanks Joe! Philly seems to be my best bet. Thanks for your advice. 

John Spina jr Hi John, yes I plan to market for contractors in whichever area I settle on. Any suggestions on cities that I should look into?

Kevin Paulk Thanks!

Kevin Paulk Thanks Kevin for your response. I'm definitely priced out of New York. I would like to start with a 100k flip. So the area I focus on would have to be outside of the NYC Metro area. Once I find the area, I absolutely plan to become well versed, learning the ins and outs of the area, and developing relationships within the area. Any recommendations on areas outside of NYC? I appreciate your advice!!

Brandhyze Stanley Thanks so much for your advice! I'll definitely look into Philly. By "farm area" I mean the area that I'll be focusing on. A little lingo that I picked up from reading the Bigger Pockets "The Book on Flipping Houses"...Lol.

Hi guys! I'm an landlord of a 4 family brownstone in Brooklyn, NY and want to go into flipping. I've been reading forums, listening to podcasts, reading books on flipping for months now. I want to start developing relationships with contractors, real estate agents, and other investors but I'm struggling to settle on a farm area. Any recommendations on where I should start looking for my first flip? From researching, I know that your flip shouldn't be farther than a 2 hour drive away so I've been researching in that radius but I've been getting mixed reviews. All suggestions are welcome! Thanks!!!

@OnYango Williams @Andrew Johnson Thank you!! 

@Brandon McLean Yes, NACA was a trying process, but it paid off! I will definitely look into the areas you suggested. Thanks!

@Mark Gallagher Understood...my skin in the game would be the equity I have in my current property, I guess I'm just nervous to touch it since it's all I have right now. 

@Anthony Dooley

Thanks for your reply. In regards to "no such thing as investing with no money", I've read on this site in several forums that it's possible to invest in flips with little or no money down using hard money loans. I've also read that you can use hard money loans to purchase and then refi into a mortgage. Is this not true? Unfortunately, investing with friends and family is not an option for me which is why I'm looking for other means. 

I've been browsing through the forums trying to get answers to my many questions and have had some success but I wanted to post all of my questions here to get more specific answers. 

So, I currently own a 4-family brownstone in Brooklyn, NY. I bought it in 2012. I have a great rent roll and profit from this property. I bought the house with NACA, first time home buyer program. I stay in one unit and rent out the other three. My ultimate goal is to gain full financial freedom through real estate. I want this to become my main or only source of income. I have about $20k saved and great credit but I don't want to use my savings or use my current property as collateral. What are my options to invest in real estate further? I live in Brooklyn, NY so the price of houses is astronomical. So here are my main questions:

1. What type of real estate investing can I do with little or no money (I.e. Flips, Vacation Rentals, Rentals, etc)?

2. Being that I live in New York, what areas near me would be affordable and within reach to be able to manage?

3. Hard money vs Private lending, which would be more suitable for my specific situation?

Thanks for all your help in advance!