All Forum Posts by: Lee Burns

I'm in a similar boat.  I'm considering wholesaling, but I'm just not super into it.  I want to buy and hold long term and eventually get into short term flips.  Where are you located and what niche(s) do you want to invest in?

Congrats on your making your first post! Check out SONYMA, as well as FHA. Where are you looking to purchase? What are your reserves and score, roughly?

What county is the property in?  Bronx/Westchester?

Have you checked out the podcasts?

I'm also looking to purchase my first home in Westchester county, probably using a VA home loan. Check out a great REI meetup group that I've recently joined, that's based in Westchester. Let me know if you ever want to brainstorm, I'm often analyzing the area and networking with locals.

It doesn't sound bad, based on just this information.  Have you reached out to any local property managers or real estate agents to assist with comps?

I live in Harlem for the time being and do not plan to invest out of state for my first deal, but it is a possibility, like the others are saying on this post.  Pick a niche and send me a connection request if you want to brainstorm on ideas.  I'll be starting in the Westchester County area.  I prefer to go north than east for a few reasons.

That's my first time hearing about that and it sounds odd. Try posting in the private lending forums; I'd be interested to learn about that too. The only thing that caught me off guard, but made sense, was that HML only lend to LLCs. Are you still in the Hong Kong market? Have you connected with any local investors and/or agents who could help advise?

I was stationed at NS Mayport for almost 5 years and I sure miss that area.  Have you looked up property managers in the area that you would consider employing to handle this duplex for you?  They could offer some insight as to what typical rents and repairs are.  The numbers are a bit askewed, but another idea is to reach out to the owner and start a dialogue to assess where the numbers are currently and what his/her motivation is to sell.  He/she could even tell you info on the roof, boiler, septic; etc.

Yeah it's totally doable, but have you considered investing out of state or in a more densely populated area in state?  Maybe something closer to an economic engine like a college, hospital, airport.