All Forum Posts by: Conway Churaman

I was thoroughly thoroughly impressed with @Engelo Rumora last night!  He was a breath of fresh air!  Sir, I really really appreciated what you did and I know how hard public speaking is.  I just wished I had an opportunity to hang out with you for six months.  My mind is so cloudy right now but I need to come up with a game plan for my life for this year.  I have no choice but to make big changes to my life if I want to be in a position to help people that I love.  But I cannot focus!  It is critical that come up with a concrete plan.  

There were all types at the meeting.  Part time investors, full time investors, wannabes.  It was interesting to observe the dynamic of people as they were networking.  I didn't bother to approach you Engelo as people were crowding around you after the meeting to try to absorb your good vibes or something. lol

The funny thing is....you're younger than me and I should be where you are right now.  I already know I have the ability to do what you do and perhaps more.  It's a horrible thing to be non-functional for whatever reason.  Be careful and God bless you sir.  Be watchful for situations and people that will try to bring you down.  You can easily become like me.  

But since you are not and grabbing life by the balls...it would be so awesome if I could get your counsel on what I can do to plan my 2017.  My goals, my mission to save the woman I love, to put me on a course to finally start living....before it's too late.

I would like to be there as well.  I need to hook up with a mentor even if I have to pay him for his time.  I need someone to help me to focus.  Hopefully someone there can help or can point me in the right direction.

I've been contemplating the benefits of hard money loans myself.  For a beginner it would be extremely risky.  But that's just my opinion. 

Thought I would update everyone who might have been following the thread.  

Ultimately, I decided not to invest in the property.  That meant I needed to vacate along with the other tenants.  I have been living in a new apartment since Oct 2015.  This past March 14th, 2016 the property sold (most likely to an investor) for $750k which is $50k above asking.  This is somewhat surprising to me knowing all the problems the property has.  Apparently, whoever the investor(s) is/are they are seeing potential value in the property and the area (proximity to a shopping mall, rising rents perhaps).  These investors must have a lot of capital to rehab the property and get it ready for rentals.  I simply do not have that kind of funds.  I hope to be like one of those investors in the near future.  With everyone's help here on the forums of course.

I would like to attend myself.  I will follow this thread for the date/time announcement.

I just did a quick search on the property. Apparently it sold on 3/14/16 for $750k....$50k above asking. It would seem an investor did indeed pick up the property. Wouldn't mind knowing what the new owner is budgeting for a renovation as well as all the other numbers. What kind of ROI is the new owner estimating I wonder?

As was mentioned in one of my older posts, I was forced to move out of the triplex by the owner who wanted to sell.  The prospective buyers the owner was courting was indeed some investors.  The goal of the owner was to get the place vacant to make it a more attractive purchase.  I am not sure of the current status of the triplex and it could be that it has been sold by now.  I am not sure but I am curious to find out.

My life was turned upside down for months and my own investor goals were put on hold.  I'm looking back at getting involved in this site again.  Eager to make contacts.  

Have a good day.

 Sorry to hear man.  I tweeted out your campaign to get some retweets going.  I hope you raise enough money soon.

If you wouldn't mind the company of a newbie hasn't done a deal yet and is still working on his REI education, then I'd like to attend too.

Then perhaps a syndicate would be better where there are multiple partners all with various levels of experience.

Bottomline, I suppose it is all about gut instinct and taking a chance even if you've researched as much before making any moves.  We need to be part of a team of like minded individuals all with a similar goal or set of goals working together for good.  Wait, I think I'm describing the Justice League. Heh heh.

There's a thread in the New York City sub section...NYC BP meetup. Even though I haven't a clue of what I'm doing and haven't even started really studying REI yet, I think I might be hanging out at the next local meeting.

*meanwhile, as our hero struggles to figure out his next move...*

Hey guys, let me be selfish and steer this thread back to my little world of problems.  I saw a tiny studio today renting for $900 in an old building in Sheepshead Bay.  For the most part it's clean and  I suppose it's okay but if I'm forced to move I need to place to have Verizon FIOS.  I simply need the service.  A lot of these older building do not want to deal with Verizon's installers wrecking their property.  What kind of utility companies do business in the area where you want to invest?  I guess that is a question an investor should consider since broadband internet service is now a must and not a luxury anymore.  

That means I have to pass on the studio despite the low rental cost. Good grief where do I go to live? I don't have the time to go house hunting for the perfect multi-family house hack, seek FHA financing, do improvements, and find tenants. The owner of my old building wants me out pronto.

Great so should I find and buy a co-op or condo instead?  I really did not want to spend my savings on a down payment but I don't see another option at this time.  Do I find a local real estate agent to help me?  Do I look for an agent used to finding investment properties and give the idea of a local house hack multi-family another shot?  Any local agents out there reading this want to help? 

*sigh*