All Forum Posts by: Omar Sanchez

@Lawrence L.

Hey wassup?! Since I am going for residential MultiFamily properties (2-4 units). Is it possible that I use that senario as well?

Hey everyone! Are there any websites that accurately state what are the average rents in the area? I am looking specifically for The Bronx, Yonkers, and Mount Vernon. I heard those were good places to start. Since I am a newbie investor I don't know much.

Thanks in advance!

@Brian Hosier Hey Brian!

I have a question. How do I calculate the 1% rule?

Thanks in advance

Hey everyone! Hopefully all is well:)

So something just came up in my mind and I was wondering if this was a smart move to make. I was thinking about creating a website from scratch. I already know the host  of where to create my website, so no worries there. I have created my own website before and was wondering if I can do that part-time while I build my RE business.

Thanks Everyone!

Hey Jean! Thanks and Oops I should of been more specific with this. So I want to invest in Residential Multi-Family properties (2-4 units) using an FHA loan. In other words I want to live in the property for at least s year while I rent the other units out.

Then rehab them and increase the rents. Then I refinance the property and buy another one. I am by no means a pro lol, just trying to learn as much as I can. Once again thanks for answering the last question I had.

@Ikean Lucas 

Hi Ikea Lucas!...... I am new to RE investing as well, but I am not into wholesaling. I am currently from (and live) in The Bronx as well. We could talk about RE.

Happy investing!

Omar

Hey everyone!

I have a simple question. How do I find out my freedom number? AKA to find out how many properties do I need to achieve financial freedom according to my standards? Like what is the formula to figure this out?

Thanks,

Omar

@Account Closed

Hey Derek Moore! Hope everything is going good! So according to what you said on this thread, you said that Brooklyn is not good for investing in those types of properties? Ive heard many times that Brooklyn is changing and being gentrified so fast, that it is becoming "the mini Manhattan". I don't know much about Astoria, but Ive been there, its nice. 

I heard that The Bronx is a very hot makes to invest in these types of properties, but I am not sure if thats true. I live in SoundView, and I am interested in investing in/around my area, since there are a lot of Residential Multi-Family properties where I live. Do you know what are the average rents there? Also how do I specifically know the market that I am interested in? Do I just call up an agent? I know that I have to speak to other investors and network as well, but I REALLY want to know HOW to do it.

I have never been to Jamaica Queens to be honest, but since you said it is good area to invest in now, I think I should take a look. 

Flushing as well? Ive been to Flushing before and let me tell you......... Its very crowded over there! Its very saturated with people and highly concentrated populated area.

Nassau County, I don't know about it.

How do I research the market? I know its a long response, but I am going  to learn as much as possible 

Best

Thanks and no problem @Michael Lane. I don't know if you know but I am a newbie lol. I I have been to Westchester County, specifically Mount Vernon, and Yonkers.  From my experience they look like pretty nice and safe areas ( please correct me if I am wrong lol ). So you are telling me when it comes to prices and crime rates, its a good place to invest in Residential Multi-Family (1-4 units) properties? Ive heard that there are a lot of Duplexes, Triplexes, and Quads over there. One more thing.. I am also interested in these types of properties in The Bronx, specifically SoundView, since I am from there and currently live there, but I am still a little confused.  Yes I would love to contact you definitely!

Thanks 

Thanks for the info!@John Hickey Yea because I have been getting confused lately and Ive noticed that sometimes the listings of the property(s) is not true.

Best