All Forum Posts by: Derrick H.

Send me a PM and I'll provide the attrny I use. He's very good with assignments. 

One of the better options to start me be to have the seller hold the paper on the property. You find yourself avoiding alot of legal issues and less risks. 

Depending on where the property is located, I'll be happy to refer a couple of roofers. How big is the pitch on the roof? Does it need a R/R?

In my opinion, it's the wrong mindset. On average I recv'd 20 - 30 leads per week. The majority are based in the Grey areas of the City. The High end/High demand areas are 1 - 5%. My conversion is high based on the amnt of return you'll receive for those Grey areas. Basically, all I'm saying is this..... "While you're waiting for the whale, I rather catch the little fish and be eating plenty. "

Why is EVERYONE starting in the Highest demand or Overpriced areas of the City? It would be like buying a Ferrari as your first car. Yes, it does LOOK good but it's difficult to maintain and can be overpriced. Start in the low impact Grey areas. Learn the system of owning a Hold or Rehab. Get to know the building inspectors and judges. Know the areas that produce the best return on investment. Also, You're not going to earn a lot of money just owning 1 rental. As someone who use to OWN 50, you're going to be spinning your wheels.  

The Local Banks are a good way to start with an investor, especially dealing with a Cash Refinance. On a different side, if you want to use a Bank to purchase Real Estate, it might be easier to have a Seller Hold paper or assume the Mortgage. It's a lot easier than trying to convince a Bank to loan money on a distressed property to rehab.

The Majority of Attrnys in BUFFALO stay of away from Dble Closings. A lot of them just doesn't like them. NYS is an Attorney State and your best option is an "Assignment" of your contract. The majority of the attrnys don't mind dealing with them and you'll still get your check at closing. My advice is to find an attrny who's very good at Real Estate Transactions.

BTW, it's always a good idea to do your diligence on a property before making ANY offer to buy. Checking the title for Liens or judgements via the local county is best way to start.  

I know someone that specializes in 1031 Exchanges here in Buffalo. I'll be happy to introduce you. Also based on the Neighborhoods in Buffalo, Dbles offer more return on your investment if you're deciding to do Holds.