All Forum Posts by: Ray Danishyar

@Luis Tabares Luis - you have taken the first steps in exploring. Starting out on a knowledge quest is key. BiggerPockets is great. What made you choose a hold strategy instead of buying and selling properties?

@Renee Harris is what are you trying to price this property for? Seems like she was an investor herself and it did not work out for her.

My thoughts are many wholesalers spend so much time reading books and educating themself to the point they get to ANALYSIS PARALYSIS. Learn the basics and hit the ground running. I've mentored so many wholesalers and the ones I've seen success in have build tight knit networks instead of trying to be the jack of all trades and taking their deal to everyone on the internet trying to squeeze out a few more bucks.

A buyer list isn't always key - you need to surround yourself with a healthy team of a tight network. Its hard to explain it all over a post - but if you have a tightknit team you would never have to waste your time 1.Finding a buyer 2.promoting it all over the place, then essentially losing negotiating leverage when no one bites. 

@Shannon McGuickian why Florida? You can also invest in New York it’s a great market. Is it because you also want to use the investment property in Florida to live in the long run?

@Marcus Maloney yes we are located in Long Island New York and I cannot seem to contact with wholesalers that are specific to New York. If you have any wholesalers who work the New York area I would love to connect. And your advice on building rapport is absolutely key. I spent 15 years training employees in management and the most successful ones were the ones who can easily connect with anyone on a natural level.

Hello Team,

I ran into a friend who uses PROPSTREAM - the site looks almost too good to be true based on their claims on the site. From comps, to marketing, to analytics, etc. All these features are time consuming and have they really perfected their craft? Are their tools actually helpful? I would love to hear from people who have used it and their experience with it.

Thanks

There is a great article on FIXED COSTS - Purchase costs, Holding Costs, Selling Costs. Purchase costs include inspection, closing costs, and lender fees. Holding Costs include mortgage or lender payments, property taxes, utilities, and insurance. Selling costs include Realtor commissions, closing costs and also title fees, attorney and so on.

MY question is, does anyone have a basic breakdown of what it costs in Long Island New York what these costs typically are. Would love a Long Island screen shot break down of these costs that you have incurred in your deals.

Thanks!

Ray

Yeah, its on zillow's purchase history :)

I would ask myself based on its history from 2017 it started selling every one to two years, sold in 2017, then a couple times in 2019, and now another increase, and it looks likee its not even finished and it seems to be getting worse. It might have switched hands multiple times. I am thinking some sort of zoning isn't getting approved thats why its still not rehabed and been switched to multiple buyers.