All Forum Posts by: Tom Chen

@Account Closed

LOL, I think I saw an article today that said there should be an upswing come the new year. 

I think I was being a chicken hawk. 

@Michelle B.

Thanks...that's so weird that they would rather it sit there empty instead of sold. 

@Michelle B.

Thank you. That's exactly what happened. It's weird though, the bank foreclosed on them back in April of this year but it's still not on the MLS.

@Account Closed

Thanks...nope.  Neighbors moved and abandoned long ago.  

I'm thinking if I do buy it, when I sell it...will those new neighbors bug me for every little issue (if any arise).  lol

Hello all,

So the property that is directly next door to me has been abandoned for approximately 2 - 3 years now.  Couple had a bad divorce and the interior is actually kind of a mess.

That said, the property is NOT listed anywhere that I can see and comparable homes are around $350,000.  I believe Zillow has it estimated value at around $250,000.

I think I've found the bank...is it wise to try and move in on this property that's directly next to me?  I'm thinking about buying and flipping.  If the new owners have an issue, will that make things awkward?  

Thanks in advance!  This is in Long Island, New York

I'm brand new to REI and BP...I'm looking forward to learning whatever I can and meeting great people in the NY area!

@Account Closed thank you very much for your advice.  I appreciate it!

Hi everyone...I'm in Long Island now and am now in the research phase of REI. My goal is to buy and hold to the point where my wife and I can replace our incomes.

Maybe we can all meet up after the holidays?

@Darren Sager, thank you so much for writing such a detailed post!  I've been taking the time to listen to the podcasts at almost every waking moment.  

I've already signed up for an event in NY and set up my keywords.  

I have a business that does generate residual but not passive income. However, that business is in over saturation, the ROI is not what it once was and it is very high risk.

I'm looking to invest in Buy and Holds so I can generate true passive income so my wife and I can enjoy our time together.  Being able to do what I want, when I want, how I want.  

I'm hoping to network and find a mentor in New York to show me the ropes.

If not, my plan is to start in a less affluent area of NY to invest in an apply for Section 8 tenant occupancy.  

Using a base of $200 / month / unit positive cash flow, I estimate it will take approximately 15 units to bring my wife home and 75 units for me to retire.

If you know of anyone in Long Island or NYC that would be willing, I would love to take that person out to lunch.

I will be upgrading my account shortly.