All Forum Posts by: Corey Demuth
Corey Demuth has started 54 posts and replied 424 times.
Post: What are the best areas to buy rentals close to nyc?
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
I live in nyc (queens, specifically) but there are several factors that discourage me from buying a rental here - mainly the high price entry barrier and the absurd level of protection the city offers to renters.
As an aside, a few years back I lived in an apartment building in a very nice area but there was a lunatic on the floor above me. He would frequently scream obscenities and break glass bottles in his room, play extremely loud music, and just generally cause chaos. Everyone in the building complained about him and called the police but when they came, he would be silent until they left. The management company said they had been trying to evict him for 2 years! They wanted me to testify against him in court - I moved out instead. It is also very difficult and time-consuming, as I understand, to evict a non-paying tenant in nyc.
So, can anyone suggest some good areas that are relatively close to nyc that I could invest in? Connecticut, parts of NJ, some of western NY and Long Island are all pretty easily accessible, but I don't know how to find out what their policies are regarding renters (basically I'm concerned with how hard is it to throw someone out if they don't pay or cause mayhem, but if there are other things I should be worrying about please do point them out to me.)
I think for my first building or two, I should be buying in an area that is close enough for me to drive there to take care of issues. Investing in far off regions seems dangerous until I have more experience.
Experienced landlords - please advise! Thanks for your time.
Post: Need some advise - want to invest 10k
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
How do you park and let the buyer test drive the cars if they aren't registered? I'm assuming you mean that basically you buy the car, the owner takes his plates and gives you the title, you don't put the title in your name you just give it to the buyer when they buy the car from you. But how do you store it in the meantime and how does the buyer test drive it? I really appreciate your help
Post: Need some advise - want to invest 10k
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
Originally posted by NC Mark:
In NC the state sells all its surplus property at auction. How about where you're at? Here they sell all kinds of great stuff. I've only dealt with vehicles but I've had profitable fun 'wholesaling' a couple ex-highway patrol cars.
And NC also auctions off property seized in drug-related crimes. Boats, planes, shiney bling and so forth. I happen to like the wholesale Harleys that appear regularly.
In today's economy your cash should speak very loudly in the right market. Choose an overlooked niche, learn more than the competition and you should do very well.
Good luck and keep us posted.
I actually have thought about the car idea before so I am really intrigued by this answer. Can you give me more information about how this works? If you buy cars like that and resell them are you going to have to get some kind of used car dealer license? Do you have to warranty them and such?I know a lot of states now have laws where if you are a car "dealer" you need to warranty the cars you sell.
Post: has anyone on here ever tried timothysykes?
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
nobody??
Post: has anyone on here ever tried timothysykes?
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
Just wondering, seems "too good to be true." Anyone on here ever tried it?
Post: Need some advise - want to invest 10k
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
William - can you text me at [PHONE NUMBER REMOVED] please?
Post: Need some advise - want to invest 10k
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
How much cash would I need to do a wholesale? I looked into them before but there seems to be a stigma against wholesalers in ny...
Post: Need some advise - want to invest 10k
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
What should I do with it?? Suggestions? Advice? I want to do something that will allow me to grow it into more so that I can either make a down payment on a house for myself or have enough cash to get a hard money loan for a first real estate investment deal. I thought about investing in tax liens, or buying gold, or possibly buying notes... what do you guys think? Do you have any alternative suggestions? Thanks!!
ps I feel retarded for putting "advise" in the title but it won't let me change that now
Post: quick question about tax deed sales - not sure what these numbers mean?
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
I am looking at some listings for tax deed sales. here is what i see in one of them:
"
Judgement Date
09/17/2009
Order Issue Date
10/29/2009
Case Style
COUNTY, ET AL VS NAME, ET AL
Legal Desc.
LT 7 BLK 3 LIBERTY ROAD MANOR SEC 20 U/R
Physical Address
ADDRESS
Adjudged Value
$6,936
Estimated Minimum Bid
$6,936.00
"
What does the adjudged value mean? Why is it the same as the minimum bid? Some other listings have a minimum bid significantly below the adjudged value. What do these two numbers really mean? I saw one that had an adjudged value of 60k, with a minimum opening bid of only 1300!
Thanks for any advice.
Post: want to try buying tax liens/deeds - located in ny but willing to buy anywhere - help please?
- Real Estate Agent
- Tampa, FL
- Posts 456
- Votes 123
My goal is to invest some money and make a healthy profit. sort of like a CD only one that actually pays out more than 2% interest!! I'm not really looking to take ownership of the property, my ideal situation is that I just make some interest. However, if necessary, I could come up with the cash to go through the legal fees and other costs associated with taking over / selling / holding the property.