All Forum Posts by: Nicole Wood

My sister and I are looking to make a deal with a seller who is willing to do an on land contract. We are getting the home for 37000 with 1000 down and 550 a month. We have discussed with the seller our intent to fix and sell. I am aware we don't own the property until it is paid off. This being said, the seller and I are talking about the contract---we planned to go to an attorney and get it written up stating basically we can sell when its fixed but we get the profit from the flip and he gets his amount in full at the time of sale. Is there a way that we can make this even more secure---unless he signs the deed over to us before slling he could take off with all the profit---not sure if a contract at a law office will protect us enough there...

My personal home has knob and tube wiring and galvanized piping which I personally want to replace, however, the USDA does a thorough inspection and they passed this house for the USDA guaranteed loan......and I have insurance 800$ a years. I know rentals may be a bit different. 

Are there any hard money lenders in upstate new york that would work with an inexperienced investor?

I am actually from bath so hornell would be close enough for me now. We are working on a deal in Coopers Plains now...negotiating price. Hornell is very cheap all the time but I am worried about getting good return because of that. It may be better to just stick to rentals there.

I am looking to do flipping and rentals.

well...my town is about 8000 which is close to what nearby towns are. But there are towns also with a very small population we could look at and even homes that are bank owned that are on dirt roads. I suppose as others have said it's all about the markets and comps. Around here fixing up a rental to the best it could be won't get you any more for rent. It's safe and minimal and livable here. Granite counters or brand new cabinets in a rental would be silly for the investor. Any nice finishes at all....flips are a little different.

 Thank you so much!!!! That will help us tremendously!!

 that was our plan. Thank you :]

once we have enough money to do so yes I am planning too. I know that rochester and elmira have cheap homes for sale that would be easy to rent but we need to start more local.

My sister and I are starting out in real estate investing. We are from rural upstate new york has anyone else had success investing in rural areas? Eventually we could invest in rochester, binghamton, ithaca or elmira...these are bigger cities near us. But to start we both have jobs and kids and cant travel on a daily basis until we are more established. Any input?