All Forum Posts by: Nelya Mushiyeva

thanks you for the response

Good afternoon,

A house that I have been watching  for quite some time is in long Island auction.  The property is located in a great location, I am looking for someone to partner with me in flipping this house.  Current auction price is $174K it went down in price, since the last time they put it up in the auction. the prices in that area is in 390K and above.  Outside of the house looks great, I am unsure what the inside looks like.  My husband is a licensed contractor, we are willing to put in sweat equity into this deal.  

This is my first time doing something like this and i don't know how to get financing for an auctioned house.  I know that I need all cash to get this deal, which my husband and currently don't have.

If you are interested please email me and I will give you all of the detail.

@Ed Kahle

The areas that you are mentioning are D class areas. Majority people that live in those area are section 8. For those of us that want to invest in good neighborhoods for instance Forest Hills, Rego Park, Elmhurst, Flushing, Dyker Hights, Marian Park, Park Slop, they are all expensive area. The houses in those areas Half a million and more. I had purchased my first real estate in Rego Park in 2006, two bedroom coop it cost it me 307K. If you have the guts to invest in those areas kudos to you.

Good evening,

I own a land in TX, I had found a buyer how do I open an escrow account so that he can transfer the money?  Also, since there is no lawyer in my sale of the land that is located in TX, how do I record and transfer the deed.

thank you

I found BP by listening to Grant Cardon podcast.  Love the guy and his energy but I think I am not there yet.  Maybe when I'll get there I will go back in listening to Grant.  But for now listening to BP is more my past, listening to everyone's journey let me know that I can do it.

 Thank you for the advice.  

Hi can you please telll me if this is a good deal.  This townhouse is located in somewhat of a non so popular area, but its walking distance from the beach as well as MTA.  The are is picking up again, after the storm Sandy a lot of developers bought out the houses and build condo's.  So the area has gotten rebuild, the current selling price for this property is 389,900.  The reason its cheap is becuase its in lease desired location, but I could afford and the cash flow potantially is great.  so here is all of the spec's of the property( info is based on what the agent had provided).  This duplex is 9years old, i dont need to do anything in it.  They two apartments are currentely occupied. 

BLOCK: 15822

LOT: 33

BUILDING Class: C0

BUILDING SIZE: 24’ x 37’

TOTAL SQ FT: 2,636’ (approx.)

FLOORS: 3

UNIT 1: 2 BDR DUPLEX

UNIT 2: 3 BDR, 2 BATH DUPLEX

YEAR BUILT: 2006

LOT: 24’ X 60’

ZONING: R5

RE TAX 15/16 $3,028

INSURANCE: $1,200

W/S: $480

GAI: $44,400

ANNUAL EXPENCES: $4,700

NAI: $39,700

CAP RATE: 10%

Would it be a reasonable question to ask the owner of this property, get all of their financials.

 Thank you

 There is no insurance and taxes, it's all baked into the maintenance 

thank you