All Forum Posts by: Lee Burns

Hi Ramone. What's the status of your purchase, if you don't mind me asking? I'm also looking into purchasing a FSBO MFH with seller financing.

@Tom S. good idea.  One of my partners is looking into the legalwork and comparing development costs with other contractors.  Thank you for the tip on checking with commercial lending departments, I'll definitely check that out.  My credit score is just shy of 700, but it's climbing up quickly.  I'm inbetween jobs and expecting to start next week which will help a ton.

@Michele B. thank you for the tips, but could you explain what you meant by angel with regards to hard money lending and also what a bridge on top is?

@Jason D. if you're serious about your offer, please private message me and I will happily send you the details I have as of now and you can make your decision.  Do you have that type of funding available?

I'm not too experienced just yet, but I've reached out to some partners to also investigate.  It's been on the market 5 months, but it's still under construction so repairs wouldn't exactly be the word I'd use for it.  I can't speak as to why noone else has purchased it yet, except nobody might be desiring to undertake the project; ha.

So I found a great FSBO property, SFH, 2/3 constructed. Asking price is under 600 and the comps are anywhere from 1.5 to 3+. This sounds almost too good to be true! My only problem now is...finding a way to fund this project then to sell it. I lack the funds and my credit isn't superb, but climbing back up. Any recommendations for a new REI?

I've considered the tri-state area, but I feel confident about the Bronx and north.  Luckily I landed a small job to offset some costs and I think it's very doable.  I just don't have a lot of travel time now to visit too far away.

Hi, I'm a recent Navy veteran in NYC and am studying up on real estate.  I've gone to see gurus, paid for some minor courses, but never jumped all in for courses in the thousands.  I was excited to make money, but didn't want to be ripped off in the process and I stumbled across Biggerpockets on youtube, thankfully, while I was listening to investment strategies!  I'm interested in flips, mfh, and later down the road...commercial!

Ty Boyce, when you have the chance, please post that link as I'm interested as well.  Thanks