All Forum Posts by: Mida T.

Hello guys, I am relatively new to REI, and after reading BP posts it starting doing some driving for dollars or biking for dollars to be exact around my neighborhood in Brooklyn New York. After few days I saw some houses that seems vacant or in bad shape. So my question what to do next with these properties?

My thinking was to find the owner's info and contact them and see if they want to sell, but I cannot buy it due to insufficient experience and money! 

The other idea that I have is to partner with someone, but how to find one, and what can I offer to the table?

The last thought is to find an investor or a wholeseller in NYC and get a referral fee, but how and where can find one?

Any other suggestion on how to take action on these leads would be greatly appreciated.

Thanks.

Thank you guys for the very insightful explanation and the the calculation breakdown. I will certainly take this in consideration in my future queries. As for my specific location I am located near Prospect Park Brooklyn, but I am trying to analyze deals all over NYC. 

Thanks you guys for the feedback, however my initial thinking that if let say the monthly mortgage payments is $7000 to $8000 per month. And the rent roll would be increased to $2000 x 6 = $12000 / month. Then there is a potential profit of $5000 a month. Is my logic wrong?

Hello guys,

I am new real estate agent, and I found this off market  multifamily listing in Brooklyn, NY. I think it has a great potential if I can find a someone to help me run the numbers and explain it to me. After that suggest what can I do with this opportunity to make it work.

Here is the specs:

- List price: $1,700,000

- Number of apartments: 6 x 2 bedroom apartments

- Annual tax: $8000

- Property condition: Building Is Well Maintained

- Rent Roll (currently rent prices are way below market price)

- apartment 1A + 1B are merged into 4BR for $1100/month

- apartment 2A 2BR for $620/month

- apartment 2B 2BR for $610/month

- apartment 3A 2BR for $650/month

- apartment 3B 2BR for $640/month

I am not sure why the rents are that low, but I new in Brooklyn a good two bedroom apartment in this area goes fro $2000 to $2800 per month.

So how to run the numbers for this property? and if the calculation show a good profit, how to find a partner to make this a great deal.

Thanks to all.

Hello BP members, I recently stumbled across:

"Profit Lab: Real Estate Investor Training" from Rich Hart

Which they offer a two days on the subject. Did anyone tried this seminar? anyone knows about the price? since they are not saying how much and they require some registration before they can surprise you with the hefty price I guess.

Also anyone know a good source of training on RE investing around NYC area?

Thanks.

Thank you guys for the suggestions, I think, I agree that this is not for me, first because I don't have the funds. And even if I have the funds I would put these funds toward a down payment or something. As for learning I think I'de better find someone local to learn from.

I got an email about joining the "the 6 FIGURE FLIPPING ACCELERATION PROGRAM" and wanted to ask if anyone have any review about this program? does it work? is it a scam? also why it's expensive?